Business

Internet-only bank Atom's link with Clearpath Finance 'will enhance SME finance offer'

Launching the new partnership of Clearpath Finance with Atom Bank are (from left) Conor Devine of Clearpath Finance, Peter Torrens, Atom Bank and Clearpath's David Dixon

BELFAST-based commercial finance broker Clearpath Finance has formed a partnership with an internet-only bank to enhance its offer for businesses in the north.

And the alternative-funder says the liaison with Atom Bank - the UK's first bank built exclusively for mobile - will give its customers another platform to access finance.

Atom dipped its toe the intermediary mortgage market last June when it secured its banking license, and it has been steadily gearing up with a number of partnerships since.

The tie-up with Clearpath is Atom Bank's foray into the Northern Ireland market, where it will be rolling out a loan package for trading SMEs seeking secured finance.

Conor Devine of Clearpath Finance described the partnership as "excellent news for the Northern Ireland economy".

He added: "While we have a number of major lenders across the UK as partners, 'Digital Mortgages' by Atom Bank is offering something completely different and new to the local market.

“Atom's lending process with small businesses, much like our own, operates with complete transparency, driving efficiency and simplifying processes and policy to give the added help to those companies who can't find high street banks to invest in them.”

David Dixon, associate director at Clearpath Finance, said: “The introduction of new technology has seen the world of banking change across the globe, not just Northern Ireland. We are delighted to be working with Digital Mortgages at Atom Bank as ultimately the more capital we bring into our economy the better it will be.”

Clearpath has established excellent relationships working with a select number of peer-to-peer lenders, equity and mezzanine funders and private lending consortia to go some way to solve the current liquidity crisis in the local economy.

Peter Torrens, recently appointed regional business development manager for Atom Bank, said: “This dynamic new bank has the key attributes for success, a combination of appetite and ability which will deliver to Northern Ireland in a new and very different manner.

"The reaction to our offering has been really positive to date and with the help and cooperation of our intermediary partners like Clearpath Finance, we are looking forward to a very successful future.”

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