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Traditional banks are beset with problems

Anthony Thomson, Chairman of Atom Bank, outlines the issues that traditional banks face today and the complications involved in setting up a challenger bank, like obtaining a licence and sourcing funding.

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Comments: (1)

A Finextra member
A Finextra member 22 September, 2015, 07:31Be the first to give this comment the thumbs up 0 likes

Legacy Real Estate, legacy locations, lack of trust, lack of connect, legacy IT, legacy bad debt, et al. Traditional banks seem to be beset with problems ! No wonder banks like Atom are springing up to fill in the need gaps and act as a savoiur for the need-to-bank masses. Having founded and chaired Metro Bank, this gentleman seems to have the perfect credentials to takle Atom Bank places !

I do not wish to sound cheeky or disrespectful, but it's funny how most entrepreneurs are like farmers; after a good crop of potatoes, they don't sit back but start to wonder which will be a good fit - lettuce or spinach ?

Thank God for such restless farmers :-)