UK digital-only bank Atom is set to ramp up its small business lending after securing a £30 million Tier 2 capital facility from the state-backed British Business Bank.
Digital only Atom Bank has put plans to open a current account on ice as it faces up to a slew of new regulations set to land over the course of the next year.
Voice recognition software launched last year by HSBC in order to speed up access for phone banking customers has been successfully bypassed by a BBC reporter and his non-identical twin brother.
American musician will.i.am has become a strategic board advisor at Atom, calling the new UK app-based bank's bid to change the industry through technology "awesome".
App-based bank Atom is raising another £83 million from existing investors, including Spain's BBVA, as it builds up a war chest to take on Britain's high street giants.
For the first time since launch in 1989, First Direct has been displaced as the most recommended UK bank by digital-only entrant, Atom Bank.
In April 2016, Atom Bank, the UK’s first bank built exclusively for mobile, became the first of the new breed of challenger banks to open its virtual doors through a controlled roll-out to pre-registered customers.
Atom Bank is moving into the residential mortgage market, promising a mobile-only paperless experience from decision in principle to full and final approval.
The UK's position at the centre of the fintech world is under threat as its top companies become overshadowed by Chinese giants, a new report from KPMG and H2 Ventures suggests.
Atom Bank, the mobile-only startup that uses face and voice biometrics plus machine learning technology to service customers, has opened its doors to all UK consumers following the conclusion of a six-month invitation-only programme.
© Finextra Research 2017