Machine Learning Is Vital to this App-Based Bank

Atom Bank, an app-based financial institution in the United Kingdom, uses machine learning to redefine the way customers and the bank interact and transact. Hardly a day goes by without word of advancements in artificial intelligence (AI) and machine learning. The technology is rippling through a growing array of industries and transforming the way people live and work. At Atom Bank, an upstart financial services firm in the United Kingdom (UK), machine learning is the fundamental underpinning for the business. “We are an app-based bank,” says Chief Operating Officer Stewart Bromley. “There are no branches or massive call centers. There’s also no Web functionality.” The app-only approach is revolutionary, and, if successful, it could prove highly disruptive to the financial industry and beyond. “It’s our belief that people in the…

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