Atom, which positions its brand as "the most customer-centric bank on the planet", has worked with Frank to create an "acerbically witty campaign".
The campaign features a series of cartoons (pictured above) drawn by the cartoonists at Modern Toss.
The aim is to challenge lazy stereotypes about millennials, who are often accused of being supported by the bank of mum and dad, and spending all of their money on avocado on toast, despite most being self-sufficient savers.
Atom acknowledges that banks "tarnish all millennials with the same brush" and wants to confront this stereotype head on to illustrate that young people want to be financially independent.
The ads were created and produced in-house by Frank and will run for the next few weeks at outdoor placements across London and in the North East.
"We've loved every minute of working on this campaign, and it's been incredible to see a Frank idea come to life exactly as we pitched it," Frank creative director Graeme Anthony said.
"Both Atom Bank and Modern Toss have been a pleasure to work with, so let's hope we can shake up the banking industry together again in the future."
Mark Mullen, CEO and co-founder of Atom bank, added: "The guys at Modern Toss look at banking from the outside in. They tell the truth as they see it and we were already big fans of their work."