Atom Bank

Atom Bank, (UK) Has No Physical Branches Or Cash Registers

The banking sector has also undergone a transformation. In 2015, Atom Bank obtained a banking license in the United Kingdom. This digital-only bank has launched a mobile application. The bank has no physical branches or cash registers. It is a step away from traditional stone banking. Atom Bank uses Google's cloud platform to sustain its growth.

In 2017, it became the most common bank in the United Kingdom. The first "mobile banking only" was Uber banking.

Safety

Atom is a bank that travels anywhere your phone or tablet, so we aim to guarantee a high level of security. What's more, we won't stop exploring new ways to secure our application. So you can be sure that you are in safer hands with the Atom.

Why use biometrics?

In short, it's to keep your account secure. They removed your passwords and taken your security to a whole new level. But that doesn't mean it's complicated. In fact, the opposite is true. Our biometric security uses your face and voice to access your account, and we also have an access code so you can choose the right combination of login methods.Using biometrics means we keep your account secure, but also makes it very easy for you to access. Sometimes it is necessary to use more references to complete certain activities in the application, but because we use biometrics, it really speeds up the process. It's easier to take a picture or read a sentence aloud than to try to remember a confusing password.

It is the first bank in the United Kingdom to set up a smartphone or tablet without branches and the first bank with a digital challenger to be granted a full UK regulatory license. The company is headquartered in Durham, North East England atom is authorized by the Office of Prudential Regulation (PRA) and regulated by the Office of Financial Conduct (FCA) and the PRA.

The atom was founded in July 2013 by Anthony Thomson, co-founder of Metro Bank and Mark Mullen, former CEO of First Direct.In June 2015, Atom was granted a banking license and, prior to its launch in November 2015, the Spanish bank BBVA agreed to invest a large stake in Atom. The company was introduced to the public in April 2016 after its regulatory restrictions on authorization were removed, initially by those who had previously expressed interest and received a registration code. It was launched to a greater extent in October 2016 and now offers loans and savings accounts along with secured loans for small businesses.

In 2017, Atom was named by LinkedIn as one of the top 25 startups in the UK, ranking 14th along with companies such as Deliveroo, Uber, and Airbnb, and in 2019, Atom was second on Beauhurst's business analyst list. from 50 top fintech British startups and scale-ups. It is the only company outside of London in the top 20 on the list.

Mobile applicationAtom has applications for iOS and Android phones that offer biometric security to customers who can log in using face ID or Voice ID.

How easy is it to complete an Atom account?Very simple.

You can transfer up to GBP 100,000 to your Atom savings account within a week of registering and then see how your money is maturing. Keep in mind, however, that you'll need to deposit your money within a week of opening a Fixed Saver account.

How does Atom Bank work?

You can access Atom through an application on your tablet or smartphone. Atom doesn't even send the card, you just transfer your money by bank transfer. Atom will customize the app for you and give you the ability to change the theme of the app and the name of your account. The design focuses on products offered by Atom with other add-ons, such as a blog and videos about the company.

The basic functions of the application include:Your savings: See how much money you have saved and how much you can earn on interest. Your interest rates will also appear on the screen.

Atom Products: Atom offers a small set of savings accounts as well as loans at a competitive rate. You can select or use one of these options on the product screen.

Your debt: When you open a loan from Atom, you will have the option to display your payments on the screen. This will let you know how much and when you should pay off your debt. Read our Atom Bank mortgage review and learn more.

Corporate loans: Atom offers business loans and purchase loans for small businesses and sole proprietors available through intermediaries. The application also has a Blog: Atom's blog, "Atomised", is updated monthly and covers a range of current topics in banking and society.

Videos: A video of the current Atom banking story and a security video can be found on the app's homepage.

Daily offer: Atom offers customers a daily offer for everyone who wants to be inspired.

How secure is Atom Bank?

With a thriving bank like the Atom, you can worry about what will happen to your money when the bank collapses. Atom is part of the Financial Services Compensation Scheme (FSCS). If the Atom suddenly disappears, you will cover up to £ 85,000. You may also be concerned about the day-to-day aspects of bank security - how effective is the bank in stopping fraud? It now offers most of the same security features as traditional banking applications. Instead of using the default combination of passcode and password, Atom Bank uses face and voice recognition to keep your money safe. Atom requires a selfie and a voice clip to register. Atom CEO Mark Mullen on the bank's future growth plans after receiving an additional GBP 40 million from investors in February 2021: “The team remains an IPO as our goal and our father in the company, while we and the markets are ready for the year. I no longer have a full vision, but we are looking at the fiscal year 2022/23 as the goal of the IPO.

Will the Atom be used abroad?

Atom does not have a current account option, which means that if you want to travel with a mobile bank account, you want to look elsewhere. Although you can access Atom abroad or even open an account, you may have trouble getting updates. Atom customer reviews: Atom topped the ranking of the first coronavirus block among the 10 banks we followed in a September 2020 study by Finder and social data analyst BrandsEye.