LONDON — The chief technology officer of digital bank Tandem left the startup in October, it has emerged.
James Greenwood left the startup in October and is now working as the CTO of CLEARLY, a digital challenger bank based in Dubai.
Greenwood had been Tandem's CTO since its founding in 2014, working on building the back end for Tandem's banking app. Greenwood was named 'Rising Star Banker of the Year 2015' by Retail Banker International for his work building Tandem's platform.
Tandem declined to comment on Greenwood's departure. A quick LinkedIn search reveals that Paul Clark has been promoted to the role of CTO at the startup. Clark was previously VP of engineering at Tandem and was formerly chief engineer at HSBC and head of engineering at ITV.
Asked for comment on his exit, Greenwood said in an email from Dubai: "Having gained great experience in the challenger bank market in the UK, leveraging that makes a lot of sense — bringing a similar step-change in financial services to such a dynamic region; it was both an opportunity and challenge to relish."
Greenwood's exit is the second departure from Tandem's executive team in the last 6 months. CEO Peter Herbert left in January and was replaced in the role by founder Ricky Knox.
Tandem, which has yet to launch to the public, has gone through a turbulent few months. The startup thought it had secured £35 million in funding from House of Fraser in December. However, new capital controls in China led the department store's Chinese owners to pull out of the deal after just £6 million was invested.
The funding shortfall led Tandem to temporarily lose its banking licence and forced it to delay its launch to the public. The startup has also reduced its headcount from around 120 at the end of last year to close to 80.
Knox told Business Insider recently that Tandem is in "advanced" talks to secure more funding and plans to launch its credit cards to the public imminently. The startup has raised over £25 million to date from investors including eBay founder Pierre Omidyar.
- HSBC tech chief on digital challenger banks: 'We are building similar stuff ourselves'
- Banks are right to fear tech giants
- TransferWise says it is on track to do £100 million in revenue this year and is profitable