Afin Bank Opens ‘Centre of Excellence’ in Birmingham

11 December 2024

The new location will be home to operations functions including customer service.

New specialist lender Afin Bank has created its Centre of Excellence, an office in the heart of Birmingham, that will be home to its operations functions ahead of the bank’s planned launch next year.

Afin Bank received its banking licence Authorisation with Restrictions1 (AwR) in October and plans to offer residential and buy-to-let mortgages to African nationals living and working in the UK, as well supporting other underserved borrowers such as the self-employed, high-net worth borrowers and professionals with non-standard incomes.

The new office in Temple Row, in Birmingham’s city centre, is Afin Bank’s first site outside of London and reflects the lender’s ambitions for growth and its desire to create a diverse and inclusive business that reflects the needs of its customers.

Nicola Tunney, Afin Bank’s Chief People and Operating Officer, who will oversee the new office, said the lender had undertaken an extensive search across the UK before choosing the Midlands.

She said: “We looked at a number of locations around the country to find the right type of property space with good travel links and access to a pool of great candidates to build our new teams and also support our future growth. Birmingham came out tops.

“Birmingham is a fabulous city in its own right. It's bustling, it's dynamic and it's very diverse, which is important to us as we recruit and create an inclusive culture that is at the heart of what Afin Bank stands for. It feels like a place in which we can really grow.”

The new office will be home to Afin Bank’s core operations teams, including customer service and credit and lending support, which Tunney is currenlty developing. She said that recruiting people from a diverse background was important to ensure an understanding of the barriers that the bank’s customers face, many of whom are from different cultures and communities.

In addition to being the Centre of Excellence for Afin Bank’s customer service and support teams, the new office will also be a hub for other colleagues, including the bank’s Board which will be alternating its meeting between London and Birmingham.

Afin Bank will be based at Runway East, a flexible office space in Temple Row’s Arca building. Runway East was chosen because if offered the services and flexibility the bank needs in its start up phase, as well as being a comfotable and convenient space for employees.

Tunney explained: “Runway East is a great location, with good transport links for colleagues, close to train, bus and tram stops, as well as being in the vibrant heart of Birmingham.

“It is a warm and engaging workspace, which is important if you want to attract the best candidates. As a start-up business, particularly in financial services, we want to shake off the dusty old image associated with banks, so Runway East provides a modern, collaborative working environment, with plenty of capacity to support us as we grow.”

Adam Sandford, Regional Lead for Runway East, said Afin Bank was one of a growing number of high-tech businesses establishing a presence in the city. He said: “Birmingham has a rich business heritage, but it is also constantly evolving, which is why it has become a popular choice for new and growing businesses.

“The city has a wonderful community feel, which clearly aligns with the bank’s values and will ensure it’s able to attract the best local talent. We are delighted to have Afin Bank onboard.”

The bank’s latest jobs will be promoted on its LinkedIn page www.linkedin.com/company/afinbank/

Afin Bank has been created to support people who find it difficult to secure funding from mainstream banks and other specialist mortgage lenders, particularly those from Africa. The inspiration for the bank came from the real experiences of people from West Africa struggling to find the support they needed from traditional financial services providers in the UK.

Afin Bank is backed by African reinsurer WAICA Re to the tune of £60m and aims to start offering mortgages and savings next year2 through an app, mortgage brokers and partnerships with groups in African communities, such as cultural networks and associations.

For more information about Afin Bank visit www.afinbank.com and follow it on @AfinBankUK on X and Instagram.