British digital-only lender Atom Bank has launched banking operations after regulatory restrictions on its licence were lifted.

The bank, which received restricted license in June 2015, has launched its banking app that can be accessed by anyone pre-registering their interest through the bank’s website.

Go deeper with GlobalData

Premium Insights

The gold standard of business intelligence.

Find out more

The app will be initially supported on iPhone and iPad, with an Android version to follow later.

The bank also introduced fixed term savings, as well as will offer secured lending to SME businesses.

During the course of 2016, the challenger bank will launch more products and app upgrades, in a phased roll-out.

By the end of this year, it will offer fixed term savings, current accounts, overdrafts, debit and credit cards, instant access savings and residential mortgages, serviced via the app.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

Mark Mullen 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 better value, greater transparency and a much more innovative banking experience.

The digital bank, created in April 2014, is led by CEO Mark Mullen and chairman Anthony Thomson. It has raised over £135m in capital since its creation.

In November 2015, BBVA agreed to invest £45m for a 29.5% stake in Atom, becoming the largest shareholder in the challenger bank.