Atom bank becomes an interim registered firm with the LSB’s Standards of Lending Practice for business customers

We are delighted to announce challenger bank, Atom bank, is the latest interim registered firm of the LSB’s Standards of Lending Practice for business customers.

The Standards of Lending Practice for business customers were formally recognised by the FCA in February and set the benchmark for good business lending practice in the UK. Making its name in 2014 as the first app-based bank in the UK, the move to being an interim registered firm represents an important commitment to Atom bank’s customer-centric approach to lending. We will now undergo an assessment process with Atom bank to ensure they meet the requirements of the Standards in order for them to achieve full registration.

Emma Lovell, Lending Standards Board’s CEO, commented: ‘When the LSB was founded in 2009, our mission was to put an end to ‘tick-the-box’ compliance and improve the ability of those at the forefront of lending to meaningfully demonstrate their commitment to customer protection. We are delighted Atom have taken the first step in this journey towards obtaining full registration with the LSB.’

Edward Twiddy, Chief Customer Officer at Atom bank, added: ‘We absolutely believe in the importance of responsible lending. Joining the LSB further demonstrates our commitment to putting the voice and the needs of the customer at the heart of our product design and our lending decisions. Our values and our personal experiences of the journey from startup to SME and beyond help us to stay tuned into what is right for business. We’re looking forward to working with the LSB as we re-double our focus on providing great value and support to business owners in the months and years ahead.’


About the Lending Standards Board (LSB)

The LSB is an independent oversight body, whose mission is to drive fair customer outcomes within financial services through independent oversight of the Standards and Codes for which it is responsible.

Banking and financial services organisations sign up to the LSB Standards and Codes which are applicable to their products/services, and the LSB then undertakes oversight and assurance activities to ensure that firms are compliant with the LSB’s framework of standards and regulation.

The protections of the Standards of Lending Practice for business customers apply to businesses/organisations, which at the point of lending, have a consolidated turnover of up to £25m. You can find information about the Standards of Lending Practice for business customers, including the updates to the Standards in regards to the CBILS and BBLS, here. A list of firms signed up to the Standards of Lending practice for business customers, can be found here, and more information about interim registration can be found here.

The LSB recently updated the Standards in line with two new major government lending schemes – Coronavirus Business Interruption Loan Scheme (CBILS) and Bounce Back Loan Scheme (BBLS).


Media Contact

 If you have any questions or want to schedule an interview, please email Kate Evans at Aspectus Group: or call 020 7242 8867.


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Registering with the LSB signals a commitment to deliver the highest standards of customer treatment.

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