These services will most likely be offered on digital channels, at first they will be mobile only, eventually branching out to online accessibility. It’s likely that the FI won’t have its own ATM systems but cash may be easily accessed through many ATM networks throughout the UK and Europe.
Atom Bank may just be the next big alternative to traditional U.K. banks. What with its freedom from all the costs of running a branch. Let’s be honest, it’s getting more and more convenient to skip the branch visits and just use the ATMs. And since you can transfer money and cash checks with an app, why not go one step further?
Edward Twiddy, the bank’s chief operating and innovation officer, said, “Our customer service team will provide support and technical expertise to customers all-day and everyday by phone, chat and email and through social media. Our customers will also have access to the U.K. and international ATM network and the ability to pay in cash and checks when needed.”
Atom raised 25 million pounds ($39 million) to support the creation of the bank. They have six values: respect, sharing, pioneering, courage, energetic and joy. There is the possibility of having handwritten cards sent out to customers. But is this just an attempt to get customers to feel as loved as they do by speaking with tellers face to face? Making life more electronically focused is a great idea. Let’s just hope we keep being socially minded.