Atom Bank

From Wikipedia, the free encyclopedia
Jump to navigation Jump to search
Atom bank plc.
Public limited company
IndustryPersonal Finance, Banking
Founded2014; 5 years ago (2014) in Durham, United Kingdom
FounderAnthony Thomson, Mark Mullen
Number of employees
250
Websitehttps://atombank.co.uk

Atom Bank is a digital financial company and challenger bank. It provides banking services through a smartphone app.[1] It has no physical outposts. As a smartphone app-based bank, it does not have a traditional online banking outlet, as users must use the application to bank.[1][2][3][4][5]

History[edit]

Atom first secured its banking license in June 2015.[6] The company publicly launched in April 2016.[2]

In March 2017 it raised £83 million in venture funding, which brought its total funding to over £200 million.[6][7]

On 9 March 2017, the bank experienced over 5,000 new customer signups in one day, a new record.[1] The surge led to the end of a special interest rate offer, which created controversy in some financial publications.[8]

Joined BACS in January 2019 allowing them to offer the Direct Debit payment method[9].

References[edit]

  1. ^ a b c Murray, Amelia (March 23, 2017). "5,000 join Atom Bank in just one day". The Telegraph. Retrieved November 6, 2018.
  2. ^ a b Christie, Sophie (April 16, 2018). "What is mobile banking and who are the digital challenger banks and are they any good?". The Sun. Retrieved November 6, 2018.
  3. ^ Connington, James (March 15, 2017). "Atom Bank to cut market-leading savings bond rates at midnight". The Telegraph. Retrieved November 6, 2018.
  4. ^ "Atom Bank: Meet the bank that is having to turn away customers". The Week. March 28, 2017. Retrieved November 6, 2018.
  5. ^ "New-generation UK banks challenge with technology". Financial Times. March 9, 2017. (Subscription required (help)).
  6. ^ a b Dorbian, Iris (March 6, 2017). "Atom Bank will snag 83 mln pounds". PE Hub. Retrieved November 6, 2018.
  7. ^ Symcox, Jonathan (March 6, 2017). "Atom Bank raises further £83M capital". BusinessCloud. Retrieved November 6, 2018.
  8. ^ Byers, David (March 18, 2017). "The app-based bank that has too many customers". The Times. Retrieved November 6, 2018.
  9. ^ "Atom Bank joins Bacs". Finextra Research. 2019-01-07. Retrieved 2019-01-07.

External links[edit]