- 1 Who is Atom Bank backed by
- 2 Is Atom Bank a safe bank
- 3 How strong is Atom Bank
- 4 Is Atom Bank successful
- 5 Why is Atom Bank successful
- 6 Is Atom Bank a unicorn
- 7 Is Atom Bank online only
- 8 Is Atom Bank American
- 9 Is Atom Bank UK
- 10 Is Atom a good long term hold
- 11 How big are the assets of Atom Bank
Who is Atom Bank backed by
Atom was founded in July 2013 by Anthony Thomson, co-founder of Metro Bank and Mark Mullen, previous CEO at First Direct. In June 2015, Atom was granted a banking licence and before launch in November 2015, Spanish bank BBVA agreed to invest a substantial stake in Atom.
Is Atom Bank covered by government?
Compensation – Atom is covered by the Financial Services Compensation Scheme (FSCS). The FSCS can pay compensation to savers if a bank is unable to meet its financial obligations. Most savers – including individuals and small businesses – are covered by the scheme.
- An eligible saver is entitled to claim up to £85,000.
- For joint accounts, each account holder can claim up to £85,000 (a total of £170,000 where there are two account holders).
- The £85,000 covers all the funds held in the eligible customer’s accounts with the bank, including their share of any joint accounts, and not to each separate account.
We’ll share detailed FSCS information with you when you apply for a Fixed Saver account; and we’ll save this in your Vault once your account is opened. For more information about the FSCS (including amounts covered and eligibility to claim) please visit https://www.fscs.org.uk/,
Is Atom Bank a safe bank
Financial Services Compensation Scheme (FSCS) – The FSCS is the UK’s deposit protection scheme. It’s there to protect you should the authorised financial services provider you’re using go out of business and can’t pay out your money. You are covered up to £85,000 per financial services provider for losses.
How strong is Atom Bank
Atom bank delivers first annual operating profit, demonstrating the potential of its cost efficient and scalable model –
Following a year of enormous progress, Atom delivered its first ever underlying operating profit of £4m 1, with momentum continuing into the next quarter Revenue growth of 62% hugely outstripped rise in operating costs, validating the strength of Atom’s customer-centric and cost-efficient model Savings deposits reached £6.6bn, more than double the previous year, as Atom offered savers better value than incumbent banks A keen focus on the customer experience, and treating them fairly, saw customer numbers almost double to 224,000.
Atom bank, the UK’s first app-based bank, has hit has hit a significant milestone in reaching its first ever annual operating profit of £4m (FY22: £2m loss) despite a volatile economic backdrop, as it focuses on delivering speed, ease and better value for its customers.
How stable is Atom Bank?
Atom bank, the UK’s first app based bank, has agreed terms with BBVA, Toscafund and Infinity Investment Partners to add a further £30m in equity to its balance sheet. It follows the £75m that Atom raised in February and means that the Durham-based digital lender has now raised more than £100m in the last 12 months.
- The money will be used to fuel further lending and drive the ongoing growth and development of the bank.
- The raise will enable Atom to continue to support its lending customers – homeowners, first-time buyers, and SMEs – in this difficult economic environment.
- It is also another positive step in Atom’s plans for growth and a future public markets listing.
Despite a changing backdrop, Atom has continued to deliver a strong performance in 2022. Growth in both lending and retail deposits has driven a significant increase in net interest income, and Atom has delivered positive operating profit whilst the bank continues its disciplined control of costs.
- The bank continues to provide a great deal for savers, winning customers with its combination of ease, speed and better value than the high street banks.
- As a result of its focus on customer outcomes, Atom remains one of the most trusted banks in the UK, with a Trustpilot score of 4.7/5.
- The bank’s 5 star rated iOS app sets the standard for direct, digital banking.
Atom also continues to pioneer the future of work and offer a better value proposition to its employees. As a result, the bank benefits from significantly improved employee retention, strong applications for new roles, and lower rates of employee absence, driven by its industry-leading move to a four-day working week.
Mark Mullen, Chief Executive Officer at Atom, said: “I’m delighted that the bank’s continued success means that BBVA, Toscafund and Infinity Investment Partners have added to their stake in Atom, and taken new capital investment during 2022 to over £100m. Our prudent, secured lending model, backed by award winning retail savings allows us to make the very most of capital to support income growth and boost customer numbers.
This will remain our focus.” “This year has been one of continued progress and development at Atom. In recent weeks we surpassed £4.5bn in retail deposits having made waves with the pricing of our fixed and instant savers, opening up a void between banks such as Atom that pay a fair return on savings and those that are simply unresponsive to the market.
Alongside continued growth in our mortgage and business lending books, the bank is proving that our clear focus on being fast, easy, and value for money is something that will keep benefiting both our customers and shareholders.” ENDS For more details journalists can contact: For Lansons Ed Shelley, [email protected] 07825 427522 For Atom Robbie Steel, [email protected] 07538 775 701 About Atom bank Atom bank is the UK’s first app-based bank, on a mission to make the experience of borrowing and saving faster, simpler and better value than anyone else.
The bank launched operations in April 2016, and offers award-winning mortgages and savings through its app, alongside secured business lending for small and medium-sized enterprises. Based in the North East of England with a team of over 470 people, Atom is here to change banking for the good, for the better, and for everyone.
This means focusing on customers’ needs, delivering better value than the incumbents, providing an exceptional app-based experience and offering award-winning customer support via phone, chat, email and social channels. Based in Durham, Atom is an engaged and active member of the North East Community.
In 2022 Atom signed a five-year Memorandum of Understanding with Durham University to progress key research and diversity initiatives. The region has one of the highest levels of youth unemployment in the UK and Atom is passionate about addressing the critical digital skills gap and helping develop young people and other groups that are under-represented within the industry.
As of November 2021, all employees enjoy a four-day working week, after Atom became the largest company – and only bank – in Britain to introduce the policy, with no reduction in salary. The Atom executive team are highly experienced, having built and run some of the most well-respected banks in the UK.
CEO Mark Mullen has 30 years’ experience in the sector and was previously CEO at the multi- award-winning telephone and internet bank first direct. The team is supported by a strong non-exec board, chaired by Bridget Rosewell CBE.
Is Atom Bank successful
Atom Bank has achieved its first annual operating profit of £4m, swinging from a £2m financial loss for the 2022 financial year. The Durham-based fintech’s revenue surged by 62% with its customer base expanding from 123,000 to 224,000 over the last financial year.
Why is Atom Bank successful
Over the course of the year Atom has shown that banks can provide exceptional customer service and offer customers better value for money. We never allow ourselves to forget that ultimately, the customer pays for everything. ‘We believe that the lowest cost wins. Lowest cost and highest quality wins every time.
Is Atom Bank a unicorn
In total the UK had 13 new FinTech unicorns in 2021 and if current pace of newly registered unicorns continues, 2022 is on track to beat last year’s record. UK FinTech companies close to unicorns status include Primary Bid, Atom Bank, Quantexa and 10x banking.
What happens if Atom Bank goes bust?
What’s this then? In a nutshell, it’s basic information about the protection of your eligible deposits. It’s issued by the PRA (Prudential Regulation Authority) who run the FSCS. As Atom’s covered by the scheme, we want you to fully understand how your money is protected by the FSCS. –
- Eligible deposits in Atom bank plc (UK mainland only) are protected by: The Financial Services Compensation Scheme (“FSCS”).
- Limit of protection: £85,000 per depositor per bank/building society/credit union. Atom bank plc is the trading name of your bank
- If you have more eligible deposits at the same bank / building society / credit union: All your eligible deposit at the same bank/building society/ credit union are “aggregated” and the total subject to the limit of £85,000
- If you have a joint account with other person(s): The limit of £85,000 applies to each depositor separately
- Reimbursement period in case of bank, building society or credit union’s failure: 20 working days
- Currency of reimbursement: Pound sterling (GBP, £) or, for branches of UK banks operating in other EEA Member States, the currency of that State
- To contact Atom bank plc for enquiries relating to your account, go to our Contact page
- To contact the FSCS for further information on compensation, go to the contact page of their website,
How ethical is Atom Bank?
How are we being kinder to the planet? – We’re direct, digital and app-based, so we have lower emissions and operational overheads than most other banks. We also don’t waste paper on statements, as we let you know what’s going on in-app. C O 2 We’ve pledged to become a carbon positive bank, and have already completed a carbon report to understand where we can make improvements. We’ve moved to a four-day week with a flexible, hybrid set up, which helps to reduce the impact we make by commuting, as well as working in our office and from home. We’re the first UK bank to sign the UN’s Climate Neutral Now Pledge, a voluntary agreement to become carbon neutral. Our main office is based in an award-winning green space that relies on biofuel and solar panels for heating and hot water, uses zero carbon electricity as well as using rain water for plumbing.
Is Atom Bank online only
Atom’s a challenger bank. What does that mean? We’re challenging banking norms and offering our customers a new, easier, more efficient way of banking. Put simply, we’re a digital bank that you can only access through an app on your smartphone or tablet.
Is Atom a good company?
Atom Technologies is rated 3.9 out of 5, based on 57 reviews by employees on AmbitionBox. Atom Technologies is known for Skill development which is rated at the top and given a rating of 3.8. However, Salary & Benefits is rated the lowest at 3.3 and can be improved.
Is Atom Bank American
Atom bank is a nine-year-old digital retail bank based in the north of England.
Is Atom Bank UK
App based, customer first – We’re not most banks. In fact, we are the UK’s first app-based bank, here to make things better for you. Our award-winning customer service and competitive mortgage and savings rates keep our thousands of customers smiling.
Is Atom Bank Russian?
What’s the story? – We were founded in 2014 as the UK’s first app-based bank and were the country’s first digital-only bank to be granted a regulatory licence. We’re based in the North East of England and we love the region for its culture, energy and sense of community, so we strive to add value wherever we can.
Who is the CEO of Atom Bank?
Mark Mullen, CEO at Atom Bank, said: ‘We’re all very excited to welcome Lee to Atom. Ahead of us lie many challenges as we build scale, profitability and maturity on our way to listing the company.
Is there a limit on Atom Bank payments?
Making payments – When you open an Atom account you’ll receive a sort code and account number which you can use to make electronic payments into it from other banks or building societies. Most electronic transfers between banks and building societies are made by Faster Payments.
We are a direct member of the Faster Payments Scheme and have set a limit of £110,000 for payments out of an Atom account. Other financial institutions may have different limits, so you need to check with them that they’ll make your requested payments into your Atom account. For more information about making payments in and out of specific accounts, take a look in the product T&Cs.
You must tell us without undue delay (and within 13 months at the longest) if you think something’s wrong with a payment to or from your account. If you don’t tell us within this timescale, we may not be able to resolve the issue for you. If a payment out of your account doesn’t complete correctly because of a bank error that we believe is genuine, we’ll return your account to the position it would have been in without the error and if relevant, contact the other bank to recover the payment.
It’s your responsibility to ensure the account details you give us are correct, so if a payment out of your account doesn’t complete correctly because you made a mistake we won’t refund you. We will make reasonable efforts to help you recover the payment, but this may not be possible. If you tell us a payment out of your account was not made by you, you won’t usually be held responsible for any payments made while your account is compromised and we’ll return it to the position it would have been in if the payment hadn’t been made.
We’ll do this by the next working day unless we have a regulatory obligation to investigate or act differently. If we find that you’ve acted fraudulently or with gross negligence, we won’t refund you. If someone else tells us they’ve accidentally made a payment into your account and we reasonably believe this has happened, we may stop any withdrawals being made from your account while we discuss next steps with you.
Is Atom a good long term hold
Trading Analysis – Cosmos’s price is -$2.2000000 (-25.55%) below its 100-day moving average price of $8.610000000 as its price at the moment sits at $6.410000000. Additionally, ATOM is $0.0300000 (-71.99%) higher than its 52-week low price of $6.380000000 while -$10.51000000 (-21.22%) under its 52-week high of $16.920000000.
- The current trading price in relation to its long-term average along with its 52-week high and low, gives ATOM an average long-term technical score of 15.
- Long-term trading movement of Cosmos suggest that investors are bearish on the coin at the moment.
- Cosmos has a market capitalization of $2,332,754,397.42 and a relatively high average daily volume with $609,969,382.73 worth of the currency traded over the typical 24 hour period.
Over the last 24 hours, ATOM’s volume is below its seven day average with 102,823,069.20 exchanged. This coin’s subclass Content: Crypto projects with a focus on producing additional content for users invested into the underlying ecosystem. Content creators can use blockchain technology distribute content to a group of subscribers or investors.
Is Atom a good investment 2023?
Our most recent Cosmos price forecast indicates that its value will increase by 1.38% and reach $7.37 by September 22, 2023. Our technical indicators signal about the Bearish Bullish 30% market sentiment on Cosmos, while the Fear & Greed Index is displaying a score of 47 (Neutral).
How big are the assets of Atom Bank
As of March 31st, 2022 Atom Bank had total assets amounting to approximately 4.89 billion British pounds.
How many banks are tie up with Atom?
Payment options supported with Atom payment gateway – Atom supports a range of local and international payment options including 50+ banks and 256+ payment options offering transactions through all major card companies. They include³:
Is Cosmos Bank merged with which bank?
Approval by RBI – In a statement, the RBI confirmed that the voluntary Scheme of Amalgamation between Maratha Sahakari Bank and The Cosmos Co-operative Bank has received the necessary sanction. The regulatory approval has been granted under the provisions of Section 44A(4) read with Section 56 of the Banking Regulation Act, 1949.
Is Atom Bank independent?
FOR IMMEDIATE RELEASE – Atom bank, the UK’s first bank built exclusively for mobile, announces the launch of residential mortgages, available through selected independent mortgage advisers. Atom obtained its banking licence in June 2015 and launched the new bank in April this year with two market-leading Fixed Saver accounts, along with SME lending via a panel of specialist business intermediaries.
It’s now adding competitive residential mortgages to its product suite. From today, Atom bank will offer a broad range of residential lending via independent mortgage advisers, including self-employed, contractors, lending into retirement, purchase, re-mortgage, shared ownership, first-time-buyers and new-build properties, with buy-to-let mortgages coming soon.
Atom’s Director of Retail Mortgages, Maria Harris, said: “Our mortgages are designed to be easy to understand, with fair and transparent fees and no charges where there isn’t a true cost. We make sure our customers are updated in real time directly via their App.
- We are also keen to make the process of buying a house quick and painless, in some cases mortgage offers can be made on the same day.” “We strongly believe that offering mortgages via independent experts will give our customers the best service and the very best advice when choosing a mortgage.
- Our ultimate aim is to help people get what’s right for them, and for them to have the best experience along the way.
Customers can find an intermediary who is able to discuss Atom mortgages via our customer support team. In time, this too will be managed via the App.” Once an Atom mortgage has been recommended by the intermediary, customers will need to download the Atom App, available free via the Apple or Google Play stores.
Log in securely with face and voice biometrics and track their Decision in Principle (DIP) and application progress every step of the way.
Receive all updates and communication via the App-no danger of documents being lost or account information going astray. Accept their mortgage offer via App-electronically with a tap of their phone Keep and store all key documentation-no need for customers or brokers to post anything, it’s all automatic.
Unlike a traditional bank, Atom’s mortgages are all backed by automated systems, meaning everything is done real time so customers can see their mortgage application with complete transparency through every stage. Atom bank’s mortgages have been designed to remove the frustrations of the traditional application process.
The platform provides instantaneous updates to the intermediary and the customer, and Atom is the only mortgage lender to provide this service instantly and directly to an App. Atom’s CEO Mark Mullen said: “Buying a home can be hugely exciting, but banks are playing with people’s dreams when they make the process so difficult.
We want to change this – it should be a positive experience. Old legacy processes that are institutionalised at the traditional banks simply don’t exist at Atom because we’ve built this bank from scratch. We can offer mortgages that are great value, and a service that is fast, informative and transparent.
Built a highly motivated and experienced team of over 200 permanent employees Been ranked 6th in KPMG’s Global Fintech 100 listing and 1st in Tech World’s Digital Challengers list Established a global network of partners and suppliers. Been granted first a restricted licence in June 2015 and now a full unrestricted licence to offer personal and business banking services Opened doors to all UK customers in October 2016
For more information, please contact: Katy Ringsdore, Atom bank [email protected] / 07740315395 Sarah Tye, Lansons [email protected] / 020 7294 3620 Anna Schirmer, Lansons [email protected] / 020 7294 3605 Notes to editors: Atom is determined to set the agenda for what the future of banking looks like, redefining the relationship customers have with their money, providing a unique, branch-free, banking experience, built around the best interests of customers. They want customers to be more engaged with their finances, giving them the ability to manage their own money just by using the Atom App. A dedicated 24/7 support team will be on hand to help with any customer queries through phone, chat, email and social media, working out of their Durham HQ. About Atom bank Atom is a start-up bank, authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA) and the PRA. Founded in 2014 and based in the City of Durham, Atom has a growing team of 250 people drawn from across the country, working with partners to bring pioneering technology to Europe for the first time. Atom is building the UK’s first bank designed specifically for digital, offering easy and convenient banking, along with unique and engaging ways to manage money. Atom has been recognised in KPMG’s 2016 Fintech 100, being in the Top 10 companies using technology to drive disruption globally within the financial services industry. The Atom executive team are highly experienced, having built and run some of the most well respected banks in the UK. CEO Mark Mullen has 25 years experience in the sector and was previously CEO at the multi-award winning telephone and internet bank first direct. The team are supported by a strong non-exec board, which includes founder and Chairman Anthony Thomson, also the founder and former Chairman at Metro Bank. He is Chairman of the Financial Services Forum, the UK’s leading membership organisation for senior FS industry executives and Chairman of the National Skills Academy for Financial Services, a national charity.