Atom Bank will be the UK’s first digital only bank, set to launch later this year, which will provide its services through mobiles. To secure entry to its mobile banking environment, the company has hired CSC to provide its ConfidentID system, allowing Atom Bank clients to use biometric information, face and voice recognition, to access their account.
Atom is a UK start-up digital only bank that is set to launch this year. The bank is seeking to take advantage of rules making it easier for new entrants to enter the UK market, and will be the first digital-only banking provider in the UK, focusing on mobile access only. The yet to be launched bank has its place of founding in Durham and already has more than 100 people employed. The new venture is helmed by Mark Mullen, a 25 year veteran of the banking sector, and past CEO of internet bank First Direct.
Atom’s focus on digital, as well as its requirement for strong security when it comes to access to its services, which will occur through an app based solution, has seen the company sign a contract with digital security provider CSC. The contract will see CSC provide its ConfidentID system to the new bank. The system provides mobile user authentication to secure mobile banking. The system will be integrated into Atom’s digital mobile banking application, which is the only channel through which the bank’s offerings can be accessed, including current accounts, savings accounts, mortgages and loans.
The authentication system will provide high levels of security through a range of authentication techniques, including a combination of passwords, PINs, biometrics and other techniques. Its biometric capabilities are in lines with Atom’s recent announcement that it will focus on face and voice recognition technology as part of the available security measures to access accounts.
“Customer security is non-negotiable for Atom and is of course a critical element of our app,” explains Stewart Bromley, COO at Atom. “With CSC’s biometric software we will provide a service to customers that is safe and easy to use. The software is widely used in other secure environments such as Border Control, and its integration into our app offers Atom customers the assurance that only they can enter their bank account. This will be a fundamental element of the service Atom provides as we lead the way as an innovative challenger in the UK financial services industry.”
Beau Andersen, UK Industry General Manager for CSC Banking & Capital Markets, adds: “Ensuring a superior customer experience and high level of security for their customers will be key to Atom as they launch. We are delighted to be at the forefront of their inception in the market and to be enabling a level of security which allows their customers to conduct transactions with confidence through secure authentication which will be a critical component of what they offer.”