Atom Bank and Newcastle University are conducting Blockchain research to improve products and services in the field of mortgage lending under the FinTrust project. Also, the goal of the project will be to study customer confidence in financial services and how companies can create more advanced digital banking services.
Edward Twiddy, chief innovation officer at Atom Bank, explains:
“Atom will use the outputs from the research to inform and improve the design of future innovative products and services. One of the first applications of the research will be in the development of our blockchain to build better mortgages, a major innovation project drawing on blockchain expertise from Newcastle University’s Computer Science department and crypto-statisticians at the Durham University’s Department of Mathematical Sciences.”
Atom Bank, the first UK-based bank, built exclusively for smartphones and tablets, launched a million project in collaboration with experts in the field of computer science, psychology, and banking, to understand why customers don’t trust technology.
The FinTrust project received a £1.2 million grant from the Engineering and Physical Sciences Research Council as part of a campaign of £11 million sterling to support research in areas that pose problems when accessing personal data and using them.
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