Banks a lot - will is on the board
RAP superstar will.i.am has joined the board of Atom Bank in one of the more unusual business link-ups.
The Black Eyed Peas star, known for his role as a judge on ITV show The Voice, has signed with the Durham challenger bank as its first strategic board advisor, with the company saying he will provide the firm with an “external perspective on culture, philanthropy and technology”.
The deal, which was first rumoured earlier this year, is a huge coup for Atom, which is hoping to shake up the banking world with its mobile-based app and personalised services.
No financial details have been given on the partnership, though it was said the deal could be worth up to £4m for the rapper.
Announcing the deal, Atom founder and chairman Anthony Thomson said, “Like us, will.i.am believes that technology can better and simplify our lives, which is at the heart of all that we are passionate about at Atom. As we develop the range of products and services on offer to customers, will.i.am’s unique view on the world and knowledge of future trends will be a great asset for us.”
Commenting on the deal, will.i.am said: “Our lives are faster than ever before, but the banking industry hasn’t kept up.
“The scale of Atom’s ambition to help people understand and manage their money better, and its clever use of technology to give people an entire bank on their phones is awesome. I’m looking forward to working with Atom to achieve success in everything we will do together.”
Atom Bank was formed in April 2014 by Metro Bank founder Anthony Thomson, who chose to locate it in Durham.