Atom Bank have postponed the launch of their current accounts due to concerns about changing regulations -
Mark Mullen, chief executive, said that the threat of new regulation meant the current account launch would be “certainly not in 2017, and maybe not even in 2018”.
In addition, Mr Mullen described the CMA’s timetable to implement a digital standard called “open banking”, designed to make it easier for customers to switch current accounts, as “very very ambitious”.
The article also mentioned the FCA’s review of current accounts which will not be completed until next year.