The Durham-based mobile banking company Atom Bank has announced that rap star will.i.am will be joining its board as a ‘strategic advisor’.
Atom Bank, which is the UK’s first digital-only banking service, says will.i.am will give the innovative company an “external perspective on culture, philanthropy and technology.”
It is thought that will.i.am, famous for his role in the Black Eye Peas and for being a judge on The Voice, will be involved in public relations for the bank, help with social media strategies and attend board meetings.
Though no financial details of the deal have been released, it is estimated it could be worth up to £4 million to the rap star, who will be paid mainly in shares.
Atom Bank, based at Aykley Heads in Durham City, aims to shake up the banking world with its ultra-personalised service. The company doesn’t even have a logo, but rather encourages customers to design their own.
The bank was recently ranked in 6th place on the Fintech 100 rankings, an internationally respected list of financial technology innovators. Atom Bank has struck a deal with Durham County Council whereby it receives rent-free office space in exchange for shares.
Atom’s founder and chairman, Anthony Thomson, said, “Like us, will.i.am believes that technology can better and simplify our lives, which is at the heart of all that we are passionate about at Atom.”
Will.i.am commented, “Our lives are faster than ever before, but the banking industry hasn’t kept up.”
“The scale of Atom’s ambition to help people understand and manage their money better and its better use of technology to give people an entire bank on their phone is awesome.”
“I’m looking forward to working with Atom to achieve success in whatever we do together.”
Anthony Thomson added, “As we develop the range of products and services on offer to customers, will.i.am’s unique view on the world and knowledge of future trends will be a great asset to us.”
(Featured image from Bob Bekian)