Tandem have partnered with social mobility charity, Brightside, to co-create their first ever financial learning programme.
The programme, Money Hacks, will be piloted in a local North London school to mentees aged 16-18, offering an introduction to how money works and how to make the most of it.
They are now on the hunt for a local school to take part.
Tandem employees will take an active role in mentoring the students, sharing their own expertise with a range of learning materials and Brightside’s online platform.
At the end of the programme Tandem will be offering students the opportunity to intern, or explore an apprenticeship, to help them apply their knowledge in a digital bank.
The bank is taking the money accrued through customers’ credit card late fees to fund the Money Hacks programme, aiming to help future generations make informed decisions with their money.
“In the UK, young people don’t get enough guidance about how to look after their money and too often learn their lessons the hard way,” said Ricky Knox, co-Founder and CEO of Tandem Bank.
“We want to fix this, breaking down the jargon and helping mentees understand how money actually works.”
Brightside is a social mobility charity that creates mentoring connections to help young people from disadvantaged backgrounds
Anand Shukla, chief executive at Brightside, added: “At Brightside we are always looking for new ways to equip young people with the skills they need to develop and thrive.
“Knowing know how to look after your money is a key life skill and I can’t wait to develop this programme with Tandem and see the impact it has on students.”
Dan Atkinson, chief people officer at Tandem, said: “At Tandem we’re always looking for ways to help people get to grips with their money and now we’re getting hands on ourselves.
“This isn’t about textbooks or exams, it’s about the Tandem team directly sharing their experiences and insights with the young people who need it most.”