This UK Bank Will Operate Almost Entirely as a Mobile Banking App
Katherine Pendrill — June 29, 2015 — Tech
References: atombank & businessinsider
'Atom' is a new mobile-first challenger bank, which is set to operate exclusively as a mobile banking app. While many banks have their own mobile applications, Atom will only be accessible through its app. In fact, the company does not intend to open any retail locations at all.
Atom aims to take mobile banking more seriously than other banks by offering all of its services online. Users who do their banking with Atom will be able to open an account, make transactions and manage their finances all within the company's mobile banking app. The app will be supported through biometric security and will offer engaging ways of managing your money. While most services will be done through the online app, Atom will also issue a standard debit card to customers so that they can withdraw money from ATMs.
By focusing exclusively on the online experience, Atom hopes to make mobile banking more convenient and accessible.
Atom aims to take mobile banking more seriously than other banks by offering all of its services online. Users who do their banking with Atom will be able to open an account, make transactions and manage their finances all within the company's mobile banking app. The app will be supported through biometric security and will offer engaging ways of managing your money. While most services will be done through the online app, Atom will also issue a standard debit card to customers so that they can withdraw money from ATMs.
By focusing exclusively on the online experience, Atom hopes to make mobile banking more convenient and accessible.
Trend Themes
1. Mobile-first Banking - Atom is disrupting the traditional banking experience by solely focusing on its innovative mobile banking app.
2. Online-only Banking - Atom is one of the few banks that exclusively operates online, disrupting the traditional brick-and-mortar banking industry.
3. Biometric Security - Atom's use of biometric security, such as facial recognition or fingerprint ID, is disrupting the traditional PIN or password security methods used in banking.
Industry Implications
1. Banking - Atom is revolutionizing banking by focusing solely on mobile banking and offering new forms of biometric security.
2. Fintech - Atom is disrupting the fintech industry by using its innovative mobile banking app to provide customers with convenient and accessible financial services.
3. Technology - Atom's use of biometric security within its mobile banking app is disrupting the traditional methods of banking and promoting technological advancements in the industry.
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