Foreign news: Atom Bank throws out the challenge
With the UK's newest bank, Atom Bank, preparing to open its portal next month, its chairman Anthony Thomson has told incumbents that they are "dinosaurs" and will be swept aside by financial institutions unencumbered by legacy systems, Finextra reports. Atom Bank is a digital-only challenger. Thomson said the bank would cap its headcount of 340 and would grow its balance sheet to £5 billion over the next five years.