Atom Bank has been granted permission to offer retail deposits in Germany.
The specialist bank has entered into a partnership with Deposit Solutions to target German savers, which will allow Atom to diversify its funding options into the German market.
Customers in Germany will now be able to take advantage of the bank’s competitive rates across its range of fixed term products, while Atom will be able to gather deposits from Europe’s largest savings market.
“Access to the German market has been carefully considered in order to give us an additional stream to increase deposits to aid our next stage of growth,” said Mark Mullen, CEO of Atom.
“We remain committed to building a low-cost business model and offering customers simple, transparent and innovative products and services to help them manage their finances with ease.”
Founded in 2011, Deposit Solutions offers an open banking platform for instant access and fixed term savings, which allows customers to have greater control over their money.
The platform connects more than 30 banks from 15 countries across Europe, including Deutsche Bank and FFB.
“Deposit Solutions provides an innovative service and a quality, easy-to-use customer experience,” added Mark.
“At Atom, we are all about redefining what a bank should be and ensuring the customer is at the heart of everything we do, therefore, this partnership is a natural fit.”
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