Atom Bank, the UK’s first app-based bank, is adopting Provenir’s AI-powered decisioning platform to streamline risk assessments and scale its consumer and business banking operations.
The bank will deploy the platform across key areas including credit, fraud, and identity decisioning, covering a range of products such as residential mortgages, buy-to-let loans, secured business lending, and consumer savings. This move marks a strategic upgrade as Atom looks to unify and optimise decision-making processes that were previously fragmented across multiple systems.
The partnership comes at a time of major growth for Atom. The bank reported its first-ever pre-tax profit in 2023, backed by a 40% increase in its loan book to £4.1 billion. Residential mortgage balances alone soared by 55% to hit £3.2 billion, underlining the bank’s rising influence in the digital lending space.
With 550 employees and over 250,000 savings customers, Atom Bank is continuing to invest in its long-term expansion. It recently announced a multi-million-pound plan to relocate its headquarters from Durham to Newcastle, reflecting its growing footprint and commitment to innovation.
Chris Storey, Chief Commercial Officer at Atom Bank, says:
“As our customer base and operations continue to grow, our adoption of Provenir’s AI Decisioning Platform will reduce the complexities of managing multiple risk decisioning platforms while supporting our commitment to exceptional customer experience.”
By leveraging AI for real-time, scalable risk analysis, Atom Bank aims to deliver faster, more accurate credit decisions while enhancing fraud detection and compliance—all without sacrificing user experience.