Machine Learning Is Vital to this App-Based Bank

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. 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 UK who want to bank digitally are underserved," Bromley explains. "There is no other firm that allows them to do all their banking entirely within an app.