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Gocompare.com comments as Atom Bank launches the first mobile mortgage

08 December 2016

 “It’s yet to be seen how high street banks plan to put the brakes on a potential digital exodus”

Commenting on Atom Bank’s mobile mortgage launch, Gocompare.com Money spokesperson, Matt Sanders said;

“After launching the UK’s first app-only savings account in April, Atom Bank has followed up by launching the first mobile mortgage.

“With more people than ever choosing to manage their money digitally, app-only banks are a great way of driving competition in the retail banking sector. With the number of local branches already in decline, and Monzo, Starling and Tandem banks all set to launch digital-only products in the near future, it’s yet to be seen how high street banks plan to put the brakes on a potential digital exodus.

“Digital innovations such as app–only banking and the midata current account comparison service help bring transparency to often complicated and antiquated banking processes, helping the public to make more informed choices and get more for their money.

“While digital and app-only products are convenient, getting the deal that best suits your individual needs should be your first priority, so don’t be put off if the product isn’t fully manageable online.”

For more information on midata for current account comparison, see Gocompare.com's dedicated guide page.

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