Atom Bank goes live
By Tom BelgerAtom Bank is officially open for business after regulatory restrictions were lifted
Section: mobile apps categories
The UK’s first digital bank said its banking app has gone live and is available to anyone who pre-registered through the Atom Bank website.
It is also offering secured lending to SME businesses through a number of specialist intermediaries.
The lender said it will continue to unveil more products throughout 2016 including residential mortgages, and by the end of the year, customers will have access to fixed-term savings, current accounts, overdrafts and instant access savings – all serviced via the app.
Anthony Thomson, founder and Chairman of Atom, said: “The team has achieved something that simply hasn’t been done before – we believe we have built a bank in record time, and we’re not planning to stop here.
“It is not a simple task, and having an amazing team working hard to deliver the seemingly impossible has been crucial.
“We are all fully committed to continuing to innovate and deliver a transparent way of banking that turns the old world on its head.”
Mark Mullen, CEO of Atom, said this would be the start of a remarkable transformation of the banking landscape after Atom’s acquisition of tech firm Grasp UK Limited to create an engaging user experience.
“Atom aims to offer a genuine alternative to the insidious and self-interested banks that dominate the UK banking landscape,” said Mark.
“Our approach will be to constantly evolve and extend our offering, with monthly updates to our app and a dedication to providing better value, greater transparency and a much more innovative banking experience.”
Ben Butler, Corporate Partner at Bond Dickinson, who led the team advising Atom, added that this was a very exciting time for the lender.
“The UK financial services world is evolving at a rate of knots due to the demands by consumers for creative digital solutions to busy lives,” said Ben.
“Atom Bank\'s innovative proposition will have a big impact. We are delighted to have advised Anthony, Mark and the rest of the Atom team from inception to launch.”
Since its creation in April 2014, Atom Bank has raised in excess of £135m in capital through the support of a group of over 100 private and institutional investors.
Keywords: Bridging Finance, Commercial Finance, Bridging Lender, Commercial Lender, Alternative Finance, Broker news, Bridging loans, Atom Bank, Challenger Bank, Mobile Bank, New Challenger Bank, bank launch
Source: Bridging & Commercial — https://bridgingandcommercial.co.uk/atom-bank-goes-live