New lender receives banking licence

New lender receives banking licence




A new lender bank has announced it has been granted its licence by the Bank of England….

A new lender has announced it has been granted its licence by the Bank of England…

Atom Bank will now be able to push ahead with plans to launch products and services to customers later this year, which according to its website, include loans and mortgages. 

The Durham-based bank was created with the support of private individuals, mainly from the north of England, who raised £25m to build the bank.

Atom is in the process of developing a range of personal and business banking products and services which will be delivered using mobile apps as it aims to become the UK’s first bank designed specifically for digital.

Mark Mullen, CEO of Atom Bank, said it would offer a quality digital experience without parallel in the sector.

“Between us we’ve built and run some of the most highly respected banks in the UK, brought groundbreaking innovation to manufacturing and service businesses, and created great software with a worldwide reach,” said Mark.

“Now all of this is being poured into building Atom so that customers will have a bank in their pocket that is ready whenever and wherever they need it.”

Atom aims to be the first real alternative to traditional high street banks and is free of the existing banks’ branch and legal costs.

Anthony Thomson, Founder and Chairman of the bank and former Chairman of Metro Bank, felt Atom would change the banking sector permanently for the better.

“It’s a testament to the talent and the dedication of our extraordinary team here in Durham and to the support and vision of our investors,” said Anthony.

“It’s also a positive endorsement of our business plan and model from the Prudential Regulation Authority and the Financial Conduct Authority.”

Atom is a start-up bank and is yet to launch but has recently been authorised by the Prudential Regulation Authority and regulated by the FCA. 

Leave a comment