UK’s First Licensed App-Only Bank Still Reliant on Tradition
A first-of-its-kind app-based bank with no branches or online banking has won a banking license to operate in the UK from next year. Atom Bank, a disruptive startup based in Durham, UK, is looking to provide banking services solely via its smartphone app, currently in the construction phase. The project represents the second foray into challenging the traditional banking model for co-founder Anthony Thompson, who also co-founded Metro Bank in the UK. Atom announced the successful license award on Twitter June 23: It's official, WE'RE A BANK! CEO Mark Mullen, formerly head of telephone....
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