British digital challenger bank Atom has joined forces with Durham University’s maths department to develop a new retail banking model.
The three year collaborative research project, which will begin this autumn, is part-funded by Innovate UK, under the Knowledge Transfer Partnership (KTP) programme.
It will provide a three year project for a maths graduate to work at the bank to create a statistical model, which will help the bank gain a competitive edge in marketing and productivity.
The project will be supervised by academics and research will be embedded into the company.
Atom chief executive Mark Mullen said: "Atom is a national business operating from the North East. Our determination to provide the very best levels of confidence, service and experience means that we looked at suppliers from across the country when we were choosing our partners.
"We have undertaken thorough searches of the options open to us – from professional services through to infrastructure and systems to app development – and we were delighted to be able to bring together a group of partners with a clear bias outside London."