Afin Bank appoints Nicola Tunney as Chief People & Operating Officer

Newly launched specialist lender Afin Bank has appointed Nicola Tunney as its Chief People and Operating Officer.

Tunney, who was previously Head of Operations at Allica Bank during its start-up phase, will now oversee the creation of Afin Bank’s customer service and operations, in addition to building the people function for the new bank.

Afin Bank has been created to support clients who struggle to secure funding from mainstream banks and other specialist lenders.

This will include borrowers such as self-employed workers and high-net worth clients, as well as foreign nationals living and working in the UK, particularly those from Africa looking for mortgages.

The lender, which is backed by African reinsurer WAICA Re to the tune of £60m, received its banking licence Authorisation with Restrictions1 (AwR) in October and aims to fully launch with a range of residential and buy-to-let mortgages next year, as well as a savings proposition.

Tunney, who was COO of Sharia digital bank Nomo before joining Afin Bank, said it was the appeal of helping under-served customers that drew her to the role.

She said:

“It’s a great opportunity to use my knowledge and experience to build something new and do it right.

We want to support our customers in areas where it has been difficult for them to get help before, so they can overcome the barriers that have stopped them from getting a mortgage.

Afin Bank is a digital bank, but at the heart of what we do is helping people and we want those customer interactions to work really well.”

Tunney’s career has included a number of senior strategic and operational roles with major high street banks and lenders, including TSB, Lloyds Banking Group and Cheltenham and Gloucester.

She will also oversee People and Culture at Afin Bank, which aims to create an inclusive environment for everyone involved with the bank.

Jason Oakley, CEO of Afin Bank, explained:

“Not only does Nicola bring a huge wealth of experience to this role, she also represents the kind of supportive culture we are building at Afin Bank for both our customers and our colleagues.

I’m pleased to welcome her onboard and look forward to working with her as we build our products, services and operations ahead of Afin Bank’s full launch in 2025.”