Atom Bank the first mobile-only bank in the UK

Country: UK
Year: 2014
Atom Bank is one of a growing number of mobile applications, also called “neobanks”, launched in the last two years in the UK (others are Mondo, Starling and Tandem). Their ambition is simple: revolutionize British banking with an exclusively-mobile designed bank. 30 000 English people have already signed up to the bank according to the last figures of the first semester 2016.
Atom’s value was estimated at £150 million after Spanish banking group BBVA invested £45 million in November 2015.


  • Atom provides basic banking products and services which are available directly from your mobile or tablet. With a important focus on User Experience (UX) and gamification principles; goodbye old banking branches!
  • At the moment, Atom offers only two saving solutions on their mobile app:
    •  Fixed Saver at a glance: one-year fixed saver offering an interest rate of 2% (no withdrawals are allowed before maturity and interest is paid monthly or annually)
    • 2 Year Fixed Saver: a two-year savings product with a 2.2% rate (no withdrawals are allowed before maturity and interest is paid monthly or annually)
  • According to different press releases, by the end of 2016, customers will have access to current accounts, overdrafts, debit and credit cards, instant access savings and residential mortgages, all serviced via the App

Consumer Benefits

  • Mobile-only approach: with a simple internet connection and an iPhone or iPad, English customers are able to interact with the new bank wherever and whenever they want. An Android version of the app is currently under development
  • Gamification and innovation: they call the “Playzone” the part of the App where users can learn more about the bank and open a Demo Account to see the whole set of features. The app promises to use biometrics (analysing a selfie or a voice clip) for user identification
  • UX: app proposes features such as the “timeline” that can be found in social networks

How to use

  • At the momement, Atom Bank is only accessible via an invitation. Therefore, potential users need to pre-register for on where they receive an invite to subscribe to the app.
  • Once users have received the invitation, they can download the mobile application and follow the subscription process fully on mobile.
  • Finally, they choose their saving solution they want between the Fixed Saver at a glance or 2 Year Fixed Saver:
    • Interest is given at the term of the product
    • Customers must be at least 18 years old and a UK resident to open an account
    • No withdrawals or transfers are allowed until maturity


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