“Can a digital-only, mobile-first UK bank build a durable business on secured lending and savings without a current-account product?”
Atom Bank was founded in 2013 as the UK's first mobile-only challenger bank, receiving its full PRA banking licence in 2015. Unlike Monzo or Starling, Atom focused on savings and secured lending (mortgages and SME lending) rather than current accounts, positioning itself as a digital deposit-taking and lending bank. The company has repeatedly deferred IPO plans and continues to raise capital from strategic investors including BBVA to fuel its lending book.
Atom Bank discloses Atom Bank plc (in-house) as its banking provider, according to the Embedded Finance Index 2026.
Atom Bank does not disclose a bank charter of its own; its banking services are provided through Atom Bank plc (in-house).
Atom Bank's lending and capital products are provided by Atom Bank plc (in-house).
The Embedded Finance Index 2026 maps 2 layers in Atom Bank's stack: Banking / BaaS (Atom Bank plc (in-house)); Lending (Atom Bank plc (in-house), Atom Bank mortgages and Atom Bank business loans).
Atom Bank was founded by Anthony Thomson and Mark Mullen and is founded in 2013, headquartered in Newcastle upon Tyne, United Kingdom.
Atom Bank has raised £105M raised in 2022 alone; multiple prior rounds across 14-16 financing events in total (latest round: £30M (November 2022) from BBVA, Toscafund, Infinity Investment Partners).
Get a read on where your own stack stands against Atom Bank and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.