London, GB 6 °C

Monday, October 22, 2018

3_2018-07-06-03-50-49pm.gif
News > Fintech

Atom Bank postpones current account launch

Alex Lynn | 07:25 Wednesday 7th June 2017

Mobile challenger Atom Bank has confirmed it has postponed its current account launch until at least 2018.

The “tough” decision comes amid ambiguity and uncertainty over the possibility of further regulatory restrictions on current account providers.

Atom had initially aimed to release its current account offering later this year, with customers already able to register for an invite to its beta version.

In a statement, an Atom spokesperson said: “We know the current account is a product our customers want to see, and rest assured that we continue to invest in the technology, payments and operational capabilities needed to make it possible.

“Current account is firmly on our agenda, but we want to get it right and avoid wasting money.”

The news follows Atom Bank's full launch to UK customers in October 2016.

This was accompanied by the introduction of a digital residential mortgage offering in December.

Earlier this year, global music star Will.i.am joined the bank as its first strategic board adviser, providing an insight into culture, philanthropy and technology.

On its website, Atom states it expects to launch instant access savers and credit cards later in 2017.

The bank currently offers small business loans, having selected Rivers Capital Partners as one of its commercial finance intermediaries in September.

leave a comment

Your email address will not be published.