Atom Bank signs with SunGard for treasury platform

Source: SunGard

Atom Bank, the UK’s first digital bank, has selected SunGard as its integrated treasury and risk management platform.

SunGard was chosen because of the functionality the platform delivers, its scalability and the flexibility of the SunGard team to work with Atom to find a suitable long term solution for the Bank. SunGard’s integrated treasury and risk systems provide Atom with a single platform upon which it can manage its Treasury requirements. The quality and reliability of these systems will be critical to support Atom as it heads towards launch, having been granted its banking license earlier this year.

Atom Bank joins an extensive line-up of new UK market entrants and challenger banks already benefiting from SunGard’s expertise in this fast expanding sector.

Andrew Woods, executive vice president, treasury, SunGard, said: “The agreement with Atom Bank is fantastic news and reinforces the industry view that we are a preferred provider for challenger banks. Atom joins a strong and growing list of challengers who use SunGard, meaning we supply both the banks of today and the banks of tomorrow.

“We were selected due to our extensive expertise and sophisticated, efficient and integrated system, which will help ensure that Atom Bank fulfills its full potential and provides its customers with the best service possible, while fully complying with financial regulations.”

Dave McCarthy, Chief Financial Officer, Atom Bank said: “SunGard is a leading provider in this sector and we wanted to ensure that we were supported by a team who has significant experience delivering solutions in this space.

“SunGard have demonstrated their ability to provide other bank Treasuries with effective and robust solutions. This was a key reason for selecting their platform. Providing a proven efficient, innovative solution that incorporates recent regulatory changes means Atom’s Treasury function will be able to provide a strong foundation for the rest of the bank as it heads towards launch and beyond.”

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