UK challenger bank Atom is attempting to address the environmental emissions posed by its mortgage book through a new partnership with climate tech company Kamma.
-Through the partnership, the Durham-based bank intends to perform a “deep review” of its mortgage portfolio by leveraging Kamma’s tech suite
-Atom says the partnership is in anticipation of “substantial new regulations and risks for mortgage lenders”
-The bank also describes “greening” the UK’s property stock as “critical to driving down costs for households and reducing harmful emissions”
What does this mean?
Once its initial review has been completed, the bank will embark on phase two of the partnership, which is expected to include the development of new propositions, products and customer journeys.