An innovative Durham-based bank has been rated as the UK’s best tech finance company. Atom offers a cutting-edge banking service which has no high street branches, but just uses an app that relies on biometric security, such as face and voice recognition.
Atom was ranked in sixth place on the Fintech 100 Rankings. Compiled by Fintech Innovators, this internationally respected list ranks both established technology finance businesses and exciting newcomers.
Not only has Atom gone up two places from its eighth place ranking last year, but it is the only business from the UK to make the prestigious list’s top ten. Overall, the UK has 13 companies in the top 100.
— Atom Bank (@atom_bank) August 31, 2016
Atom’s CEO Mark Mullen said, “We are thrilled to be included in the Fintech 100 list once again, the only UK company in the top ten. A lot of hard work, a clear vision and a fantastic team of partners and employees have gone into this exciting journey. This year has been a tremendous milestone for us as we opened our doors to consumers.”
“Anyone wanting to bank with us is able to do so now from their mobile phone. Atom shows that banking doesn’t have to be boring. Our journey starts and ends with giving people a better way to bank and that is what makes Atom the bank of today, tomorrow and the future.”
“Technology is exciting and there is no reason why banking shouldn’t embrace technology, deliver a great customer journey and market leading products.”
Atom states that they are “the UK’s first bank built exclusively for mobile. We’re redefining what a bank should be, making things straightforward, personal and great value. What’s more, we’re always at hand because we’ll be packing an entire bank into our app.”
Atom does not even have a corporate logo, but allows each customer to create their own. The company feels that “recognising people are different is an intrinsic part of Atom’s DNA. We want our identity to reflect the fact that all our customers are individuals.”
Fintech said that there was “more capital than ever being invested around the world in start- ups and established ventures that are creating new financial products and solutions” and that on this year’s list “more than 90% of the top 50 ventures (were) challenging incumbents or traditional business models.”
Atom offers savings accounts and aims to have current accounts available in early 2017. Atom also specialises in lending to local small businesses. Atom’s managing director of business banking, Craig Iley, said,
“We are a small but growing business ourselves, and proud to be part of the growing Northern Powerhouse in bringing jobs and innovation to the north east.”