Ricky Knox

co-founder and CEO

A serial investor and entrepreneur, Ricky founded disruptive remittance services Azimo and Small World Financial Services before taking up the challenge of changing banking for the better. He is Managing Partner at the private equity investment firm, Hexagon Partners, and previously worked at MMC Ventures.  App-operated bank Tandem was founded in 2013 after Ricky and his co-founder Matt Cooper noticed a gap in the market for a disruptive bank that helped customers solve real problems and manage their money smarter, rather than being a source of stress and financial difficulty. After years of collaboration with 11,000 ‘co-founders’ and the recent acquisition of 125 year old Harrods Bank, Tandem is well on its way to solving real problems faced by real consumers.  Ricky is a first class graduate of Bristol University and holds an MBA from INSEAD.

Event Sessions Featuring Ricky Knox


How does a good bank make money?

London Summit 2018 - Monday 26 March 2018

Ricky Knox provides a rundown of the different approaches banks take towards making money, whilst still being a "good bank".

  • Right now, most banks make their money through making loans, whether that's via credit cards, mortgages or business loans. However, Knox says it's worth noting that the next generation banks have instead chosen to centre themselves around offering a marketplace. This is both to make money off selling products via commission, and to serve its users by giving them the products and services they want with little to no up-front costs. Tandem chooses to offer its own product and those provided by third-parties, to give their users the best choice possible.
  • Knox says that for Tandem, the marketplace model is primarily about "generating customer lifetime value", over monetisation. Where its digital banking competitors have signed up multiple partners and integrations to build up their marketplace offerings, Tandem hopes to provide its users with a lifetime benefit through developing the right relationships and creating the right product view.
  • He predicts that digital banks are going to present a "real and credible challenge" to incumbent banks once they reach profitability, which in his mind is also a certain outcome. Knox stated that although Tandem hasn't become profitable yet, "we're not that far off either".

Articles Featuring Ricky Knox

Tandem Bank acquires lender Oplo to hit £1.2bn assets

12th January 2022 | Daniel Lanyon

Tandem starts global expansion with Hong Kong launch

8th November 2019 | Daniel Lanyon

Tandem Bank hires new AI chief

6th September 2019 | Alex Owen

Tandem plots gig economy mortgage

14th August 2019 | Roger Baird

The Challenger: Tandem Bank’s Ricky Knox

9th May 2019 | Oliver Smith

Tandem turns to Token for turnkey Open Banking

27th March 2019 | Oliver Smith

Tandem targets Hong Kong expansion with £15m raise

20th November 2018 | Ryan Weeks

The digital bank chasing down Starling and Monzo

17th July 2018 | Daniel Lanyon

Tandem hits 100,000 customers

29th May 2018 | Ryan Weeks

Tandem Bank launches fixed savings accounts

11th April 2018 | Emily Nicolle

Monzo integrates with ING-backed app Yolt

23rd March 2018 | Emily Nicolle

Spotlight: Women in tech

8th March 2018 | Emily Nicolle