Member Article

Atom Bank grasps first acquisition to find ‘shop window’

Durham-based startup bank Atom, the UK’s first digital bank, has acquired IT development business Grasp (UK) Limited, owned by Brian Jobling.

The acquisition of Grasp is part of Atom’s strategic plan to ‘create the most engaging user experience in banking.’

Atom is building the UK’s first bank designed specifically for digital, offering easy and convenient banking, along with unique and engaging ways to manage money.

The bank says the acquisition will combine User-Interface expertise from the banking industry with experience from the video games industry. Together, Atom believes the experience in 3D technology and design visualisation will drive differentiation to its customer experience offering.

As part of the deal announced today, Brian becomes Business Development Director at Atom. The development team from Grasp, also integrated in Atom, will bring experience of working with some of the biggest consumer brands in the world including projects with F1, NASCAR, MTV and James Bond.

Edward Twiddy, Atom’s Chief Innovations Officer, explained: “Our first conversations with Brian about what gaming, and the North East development industry, could offer started in the Spring of 2014, when Atom was just an idea.

“Now, on the cusp of going live and after several months of testing, we are bringing some of the best in digital design and development into the heart of the family. It’s great to have found such a talented and dedicated team. Their work is our shop window and we’re really excited about what has already been built, and all the future promises.”

Brian Jobling said: “Atom Bank is one of the most exciting projects in the North East and my passion for the region meant myself and the team couldn’t possibly turn down the opportunity to work with Atom longer term.

“An amazing development environment has already been created at Atom and it’s great to be part of a business with such enthusiasm and drive. Atom is rapidly expanding its development team and there isn’t a better place for top quality developers to hone their trade.

He added: “I look forward to continued working with Edward and the team to create a seamless and engaging user interface experience that will be appreciated by Atom’s customers.”

Recently ranked 8th in KPMG’s Global Fintech listing and 1st in Tech World’s Digital Challengers list, Atom has not yet launched, but authorised by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA) and the PRA.

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