Metro Bank founder Anthony Thomson and First Direct CEO Mark Mullen are launching a new national retail and business bank.
The bank, called Atom, will be the UK’s first truly digital bank and is expected to open for business in 2015. It will be headquartered in the North East.
The bank will have no branches and will offer a full range of personal and business banking products at launch.
Thomson will serve as chairman of Atom and Mullen chief executive, with further members of the management team announced in due course.
Thomson said in a statement: ‘Designed entirely for the digital age and with none of the legacy issues of the past, Atom will be the UK’s first real alternative to the established banks.
‘Atom will be led and governed by an experienced and imaginative team who have a passion for people and know what it takes to put the customer at the heart of an organisation. Together we will offer our personal and business customers both better customer service and better value.’
‘We believe that Atom will be the 21st century choice for customers who want a bank that’s not just different, but more importantly, better.’