Atom Bank is to deploy an AI decisioning platform from Provenir to support multiple consumer and business banking products.
The app-based UK bank intends to use the platform to streamline its data orchestration and decisioning in the areas of credit, fraud, and identity, across its residential mortgage, business banking secured lending, consumer savings, and buy-to-let mortgages offerings.
The bank posted its first pre-tax profit in June last year, boosted by a 40 per cent increase in its loan book to £4.1bn, with a 55 per cent jump in residential mortgage balances to £3.2bn.
Chris Storey, Atom bank’s chief commercial officer, says: “As our customer base and operations continue to grow, our adoption of Provenir’s AI Decisioning Platform will reduce the complexities of managing multiple risk decisioning platforms while supporting our commitment to exceptional customer experience.”
Atom, which employs 550 staff and claims a quarter of a million customers for its savings products, recently announced plans to move its headquarters from Durham to Newcastle in a multi-million pound ofice investment to support its continued growth.