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Will.i.am named as Atom's new strategic adviser

The Durham-based mobile-only bank expects Will.i.am to provide "an external perspective on culture, philanthropy and technology."

Durham-based start-up bank, Atom, have surprisingly announced that American pop star, Will.i.am, has been appointed as their new strategic adviser. 

 

According to a statement released by Atom, the judge on ITV's 'The Voice', Will.i.am is expected to provide "an external perspective on culture, philanthropy and technology." 

 

Atom, celebrating its first birthday after launching in April 2016, are the UK's first mobile-only bank. Founder, Anthony Thompson, claimed that Will.i.am's "keen interest in technology would be a great asset to the company." 

 

Mr Thompson continued, "Like us, Will.i.am believes that technology can better and simplify our lives, which is at the heart of all that we are passionate about at Atom. As we develop the range of products and services on offer to customers, Will.i.am’s unique view on the world and knowledge of future trends will be a great asset for us." 

 

As part of the agreement, former Black Eyed Peas singer, Will.i.am reportedly has the option to purchase up to 3.55m shares over a three-year period, at £1.15 per share. 

 

Will.i.am has explained his reasons for getting on board with the innovative new firm, he said, "Our lives are faster than ever before, but the banking industry hasn’t kept up. The scale of Atom’s ambition to help people understand and manage their money better, and it’s clever use of technology to give people an entire bank on their phones is awesome. I’m looking forward to working with Atom to achieve success in everything we will do together." 

 

At the moment, Atom only offer savings accounts to its customers, but hope to launch a full suite of banking products this year. Accounts including current accounts, instant access savings and debit cards will be made available, all of which will be managed via their app.

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