12 04 2016

Atom Bank becomes UK’s first digital-only bank

Bond Dickinson has been involved in the creation of Atom Bank from the start advising on regulatory, commercial and funding aspects – including a strategic partnership with BBVA.


Atom Bank, the British digital-banking startup backed by Banco Bilbao Vizcaya Argentaria SA and fund manager Neil Woodford, named the executive who ran Turkey’s biggest bank for 15 years to its board. Since its creation in April 2014, Atom Bank has raised in excess of £135m in capital through the support of a group of over 100 private and institutional investors. Led by CEO Mark Mullen and Chairman Anthony Thomson, Atom Bank was first granted a restricted licence in June 2015 and today brings a full unrestricted licence to offer personal and business banking services. Simultaneously, Atom Bank will be offering secured lending to SME businesses, available through a number of specialist business intermediaries. During 2016, Atom Bank will be unveiling a further range of products and continuous app enhancements, with a phased roll-out of services throughout the year. By the end of 2016, customers will have access to fixed term savings, current accounts, overdrafts, debit and credit cards, instant access savings and residential mortgages, all serviced via the app. Bond Dickinson has advised Atom Bank from the start advising on regulatory, commercial and funding aspects on the deal with a team led by corporate partners Simon Watts (picture) and Ben Butler. Involved fees earner: Simon Watts - Bond Dickinson; Ben Butler - Bond Dickinson;

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