Mark Mullen, CEO, Atom bank

People Tell Richard Stuff

For this week’s episode we’re off to Durham in the north of England to talk to Mark Mullen, CEO of new digital-only ‘upstart’ Atom bank.

Mark was previously CEO of First Direct, so he’s had extensive experience in the banking system – now he’s trying to change it.

You might have heard my chats with a few of London’s new startup banks and FinTech ventures before – but Atom’s a different story. For one, they’re not based in London, which makes a nice change. But it’s Atom’s proposition that’s truly different. Rather than try and dazzle people, Atom is using its technology advantage to provide a cheaper, more efficient banking service.

Watch the video here or skip to the bottom for audio:

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We talked about:

• How Atom started, and why it started in Durham;
• The advantages of existing outside the London bubble;
• Finding the right talent, especially in engineering;
• Regulation’s effect on innovation in banking (both for and against);
• Educating the regulators;
• How Open Banking will affect the industry and its customers;
• The universal banking model, and the problem with a ‘one-stop shop’;
• Atom’s target market (which might surprise you);
• Mark’s philosophy on developing Atom and its products;
• How Atom plans to acquire customers and battle inertia;
• The importance of a human face or ‘beating heart’;
• How vital trust is for a new bank;
• And Atom’s most high-profile employee – strategic advisor Will.i.am.

People Tell Richard Stuff: Episode 47
Mark Mullen, CEO, Atom bank

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