Exclusive: Monzo hires former Tandem Bank exec Kunal Malani as new head of borrowing

By Aisling Finn on Friday 31 July 2020

Digital Banking

Malani, who spearheaded rival Tandem Bank’s growth for over a year, is the latest addition to the digital bank’s leadership team.

Exclusive: Monzo hires former Tandem Bank exec Kunal Malani as new head of borrowing
Image source: Kunal Malani

There’s been more change at the top for Monzo as the digital bank has hired former Tandem Bank chief growth officer, Kunal Malani, AltFi can reveal. 

Malani will step into the new role of general manager for borrowing on 1 August, taking over responsibilities from Tim Trailor, Monzo’s former chief credit officer, who left the bank in May. 

The newest ‘Monzonaut’ previously spearheaded Tandem Bank’s growth for over a year and before that worked as the regional head of banking products for HSBC in Dubai and was the commercial director for global lending and liability products at Barclays for five years. 

On his new appointment, Malani said: “I’m delighted to join Monzo, a company I’ve admired for a while thanks to its refreshing approach helping customers manage their borrowing in a way that is fair and transparent.” 

“I can’t wait to work with the borrowing team to build on the amazing work they’ve done already in giving customers more control and visibility over their money.” 

Malani’s new role will see him lead the team that builds Monzo’s borrowing products, such as loans, which were launched last August and overdrafts which the digital bank launched in 2018

The incoming Monzonaut will also handle the development and growth of Monzo across the board as well as growing the digital bank’s lending book and ensuring good customer outcomes. 

Recently, Monzo has had a significant amount of staff turnover at the top. 

Most notably, founder, and long-time face of Monzo, Tom Blomfield stepped down from his role as CEO, allowing US CEO TS Anil to step into the role of group CEO. 

Similarly, Trailor departed his role as Monzo’s Chief Credit Officer to join alternative lender Capital on Tap. 

Blomfield wasn’t the only founder to depart the bank this year, as Monzo’s co-founder and deputy CEO, Paul Rippon, left the challenger to raise alpacas with his wife. 

Monzo’s CTO Meri Williams also exited the bank this year to work for healthtech Healx, after nearly two years in the role. 

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