News: Challenger bank’s app will use voice and facial recognition to log in.
Atom Bank’s app has gone live after restrictions on its regulatory authorisation were lifted.
The bank which has been designed for digital and optimised for mobile users has been given the green light to open its virtual doors to the Atom App, which delivers retail banking services.
The app was built by the bank’s in-house team and uses the Unity gaming platform to deliver features such as face and voice biometrics that are used to log-in.
Designed to take on the traditional banks by utilising technology to offer a better service to customers, the bank uses machine learning to guide its customer support team and has plans to integrate this into the Atom App so that customers can get immediate answers from it.
Mark Mullen, CEO, Atom Bank, said: "This is the start of a remarkable transformation of the banking landscape for everyone.
Atom aims to offer a genuine alternative to the insidious and self-interested banks that dominate the UK banking landscape.
"Our approach will be to constantly evolve and extend our offering, with monthly updates to our App and a dedication to providing a better value, greater transparency and a much more innovative banking experience."
CBR spoke to Atom Bank’s Edward Twiddy, Chief Operations and Innovation Officer last year about how important a role mobile has played in the digital banking revolution.
Twiddy said: "Our model is basically app-only, so it will never be anything other than an app until the next thing comes along, as it inevitably will.
"Actually the whole business model is made possible by the penetration of mobile technology into people’s lives, their homes, their businesses and increasingly onto the high street, so that you can use your money when you want and where you want to."
The app will initially be made available to everyone who has pre-registered their interest through the company’s website, it is available for iPhone and iPad users, with an Android version to follow.
Atom’s founder and chairman Anthony Thomson said that the bank plans to unveil a further range of products and app enhancements during 2016.
Thomson said: "By the end of 2016, customers will have access to fixed savings, current accounts, overdrafts, debit and credit cards, instant access savings and residential mortgages, all serviced via the App."