Yorkshire Building Society and Leeds Building Society are both considering bids for Atom Bank.
Top UK building societies plot bids for digital bank Atom https://share.google/N3yKnDqMR8xQGCiVN
https://www.ft.com/content/1e8b9bab-5df1-4073-8de6-d08a02f30b53?syn-25a6b1a6=1
Atom has been very quiet for the past year or so. I still have a (dormant) account with them but I removed the app some time ago (although kept it in the App Library).
I have two theories about this. Both of which are likely wrong.
YorkshireBS: It is likely that they’re looking into current accounts considering they are quite similar to CovBS in terms of assets. YBS actually has about half a million more customers, and ~2x the amount of branches as CovBS. So it would make sense for them to introduce current accounts, so they can keep tied 2nd place in the rankings. And getting Atom would give them the app, plus a good amount of savings to add to their balances. However, YBS already have a functional app, and it could be that they purely want to prioritise savings + mortgages rather than dealing with current accounts.
LeedBS: Don’t have an app so buying Atom is a good purchase to get them an app. They could also be exploring current accounts. Seems less likely from them, especially as they’re less well known and only have 50 branches.
The advantage that both YBS and LeedsBS have that CovBS doesn’t have (god I’m saying something negative about CovBS 
), is the branch reach. They both go further south, further north, and across into Northern Ireland. So this would help current account growth.
I am surprised SkiptonBS isn’t getting involved considering they’re bigger than Leeds by about £8bn (although still roughly half the size of CovBS/YBS). Same with Principality, this would increase their customers by ~60%. They are developing their own app at the minute though aren’t they?
They are, they’ve selected a small group of members to beta test it starting on June 2nd
I wasn’t aware that Atom had ever provided current accounts.
They originally wanted to, but never did.
I’m just saying that it’s likely something that YBS is looking into 
YBS used to have a current account, of sorts; the Cash Transactor Account. It didn’t have cheques, or a debit card, but you could pay direct debits and standing orders through it.
Leeds do, YBS and Coventry don’t.
YBS used to have several current accounts and Leeds had one too
YBS were quite adamant about getting out of current accounts, but then so were Coventry.