Atom Bank plc is based in Durham, North East England. Atom Bank is the UK's first bank built for smartphone or tablet, without any branches. In turn, this means that Atom are able to pass on the benefits of their low cost model in respect of a better deal for their customers, and was the first digital only challenger bank to be granted a full UK regulatory licence, championing customer experience with a low-cost model, transparent pricing and digital innovation.
Atom bank is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA) and the PRA. Atom has a growing team of over 300 people drawn from across the country, working with partners to bring pioneering technology to Europe for the first time.
Video Atom Bank
History
Atom bank was founded in April 2014 by Anthony Thomson who is also Atom's Chairman, he was previously the co-founder of Metro Bank. In June 2015, Atom was granted a banking licence and before launch in November 2015, BBVA agreed to invest a substantial stake in Atom. The company launched to the public in April 2016, after its regulatory authorisation restrictions were lifted,initially to those who had expressed an interest previously and had been given a registration code. It launched more widely in October 2016 and today it offers mortgages and Fixed Saver accounts, along with secured loans for small and medium-sized businesses.
In December 2016 Atom launched residential mortgages under the Digital Mortgages by Atom brand through a panel of selected intermediaries. In an unprecedented move in April 2017, Atom price-matched their 5 year fixed rate mortgages to 2 year rates for a limited period. These 5 year rates were described by L&C as "the lowest we've ever seen by a mile." This move allowed Atom to truly disrupt the mortgage market. Atom customers have the ability to track their mortgage application through every step of the process through the Atom bank app.
In January 2017, Atom added two new products to their Fixed Saver range, with three-year and a five-year saving accounts available. In February 2017, Atom increased their savings rates to levels not seen in the fixed savings market since March 2016, attracting media attention and a good news story for UK savers.
Atom's main institutional investors are BBVA, Woodford Investment Management and Toscafund Asset Management. In March 2017, Atom agreed terms for a further £83M in equity which brings the total capital raised by Atom to £219M. Atom also revealed in June of this year that they received a £30M funding boost from the British Business Bank which will allow them to lend out more money to smaller businesses.
In April 2017, Atom announced the appointment of will.i.am as a strategic Board advisor to give an external perspective on culture, philanthropy and technology. Atom held a press event in London in June 2017 with chair and founder, Anthony Thomson and will.i.am to discuss why he became an advisor to the UK FinTech startup.
In June 2017, Atom bank's CEO, Mark Mullen agreed to become the Challenger Bank representative to the Open Banking Implementation Entity and will serve as the voice for the UK's challenger bank sector.
In July 2017, Atom bank announced that they had set their roots deeper in the North East and moved headquarters to an award winning, BREEAM status building, the Rivergreen Centre, where the business was originally founded.
Atom revealed they will be offering fixed saver products in Germany through Deposit Solutions in September 2017. The move was made in order to diversify their funding options and increase deposits to support their next stages of growth.
Maps Atom Bank
Awards and Recognition
Atom bank were recognised as number 6 in KPMG's Fintech Global 100 list in 2016 and the only bank or UK company to be included in the top ten.
In February 2017, Atom displaced first direct as the UK's most recommended bank from BDRC Continental's latest survey of 15,000 consumers. This is the first time since first direct's launch in 1989 that they have not been ranked on top. Atom bank were also listed as number one challenger bank in the UK by Techworld, naming them the apparent beating heart of fintech.
Atom were recognised as a disruptor in the banking sector, when it was crowned winner of Mobile Banking Disruptor at the Trade Finance Global Excellence Awards. The company was named Best New Savings provider by Moneynet Awards.
Atom's Director of Retail Mortgages, Maria Harris, was awarded Banker of the Year at the Women in Finance Awards in 2017 and was commended for her "genuinely disruptive approach to mortgage lending."
Atom was also recognised for implementing changes in its industry that are transforming the way they work. Atom won the award for Innovating in Digital Transformation at the European Contact Centre and Customer Service Awards 2016.
At the Savings Champion Awards in December 2016, Atom were awarded Best New Provider and Savings Innovation awards. Savings Champion said they were impressed with Atom's "innovative technology, coupled with competitive rates."
Mobile apps
Atom bank has released apps for both iOS and Android phones and is one of the first banks to offer biometric security - with customers able to log-in via face or voice recognition.
Developed using Unity, a game designing platform, the Atom bank app offers enhanced user experience and an alternative landscape to traditional banking apps.
The Atom app also allows customers to personalise their mobile banking experience. Customers are able to choose their logo, colour scheme, and also the name of their bank, offering a completely personal approach to banking.
References
External links
- Official site
Source of the article : Wikipedia
0 Comments