Atom Bank, a digital banking platform, has announced a strategic partnership with business lender Assetz Capital to enhance its presence in new regions of the UK market. The collaboration will enable Assetz Capital to serve as a key distribution partner for Atom Bank’s commercial mortgage loan applications across the entire UK.
Atom Bank’s Growing Success
The partnership comes in the wake of Atom Bank’s recent achievement of crossing into profitability and generating over £1 billion in commercial mortgage quotes since April. This noteworthy milestone showcases Atom Bank’s commitment to supporting businesses and offering a superior lending experience to brokers and customers alike.
Expansion into New Markets
By joining forces with Assetz Capital, a specialist originator, Atom Bank aims to expand its existing broker network and gain access to new professional and direct markets for commercial mortgages. Assetz Capital has demonstrated remarkable growth, having surpassed £1.7 billion in business lending to over 1,000 companies.
Supporting SMEs During Covid-19
Both Atom Bank and Assetz Capital have played pivotal roles in supporting small and medium-sized enterprises (SMEs) during the Covid-19 pandemic. They are accredited standalone lenders under the Coronavirus Business Interruption Loan Scheme, and their partnership signifies a shared commitment to further support the UK commercial mortgage market.
The strategic partnership between Atom Bank and Assetz Capital is expected to strengthen their presence in the commercial mortgage market in the UK. With Atom Bank’s focus on growth and Assetz Capital’s extensive lending experience, the collaboration promises to deliver a better lending experience to businesses across the country.