Atom Bank

Atom Bank is a retail bank in the United Kingdom. It is the country's first bank built for smartphone or tablet, without any branches,[1] and the first digital-only challenger bank to be granted a full UK regulatory licence.[2] It is based in Durham, North East England.[3]

Atom bank plc
TypePublic limited company
IndustryPersonal Finance, Banking
Founded2014 (2014) in Durham, United Kingdom
FounderAnthony Thomson, Mark Mullen
Websitewww.atombank.co.uk

Atom Bank is authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA) and the PRA.

History

Atom Bank was founded in April 2014[3] by Anthony Thomson, co-founder of Metro Bank[4] and Mark Mullen, previous CEO at First Direct.[5]

In June 2015, Atom was granted a banking licence[6] and before launch in November 2015, Spanish bank BBVA agreed to invest a substantial stake in Atom.[7] 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.[8] It launched more widely in October 2016 and today it offers mortgages and savings accounts, along with secured loans for small businesses.[9]

In 2017, Atom Bank was named by LinkedIn as one of UK's top 25 startups and ranked 14th alongside companies such as Deliveroo, Uber and Airbnb,[10] and in 2019, Atom ranked second in business analyst Beauhurst's list of 50 top fintech UK startups and scale-ups. It was the only company from outside London in the top 20 of the list.[11]

Mobile app

Atom Bank has apps for iOS and Android phones,[9] offering biometric security, with customers able to log-in via face ID or voice ID.[4]

References
  1. Murray, Amelia (23 March 2017). "5,000 join Atom Bank in just one day" – via www.telegraph.co.uk.
  2. "All hail the current account revolution". The Independent. 26 April 2017.
  3. Carey, Scott. "We've ranked the UK's digital challenger banks". Techworld.
  4. Lunn, Emma (24 June 2017). "Is your money safe with an 'app-only' bank?" – via www.telegraph.co.uk.
  5. "First Direct chief Mark Mullen splits to lead new digital bank Atom". Evening Standard. 9 April 2014.
  6. Williams-Grut, Oscar. "Britain just gave the green light to a bank with no branches and no website — just an app". Business Insider.
  7. "Subscribe to read | Financial Times". www.ft.com. Cite uses generic title (help)
  8. "Digital doors officially open at Atom Bank". CityAM. 6 October 2016.
  9. https://techcrunch.com/2017/03/03/atom-bank-102-million
  10. Whitfield, Graeme (1 November 2017). "Durham's Atom Bank named by LinkedIn as one of UK's top 25 start-ups". nechronicle.
  11. "50 Top Fintech Startups and Scaleups in the UK". Beauhurst. 12 December 2019.
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