Will.i.am has signed a £4 million deal with new digital bank Atom.

The 41-year-old musician has struck a deal with the banking start-up company which will see him act as a consultant and board adviser, and will entitle the star to 3.55 million shares at £1.15 each over a three-year period.

Atom Bank's decision to recruit the record producer comes as they seek to make their brand stand out from the crowd in an increasingly over-saturated sector.

Chairman of Atom Bank Anthony Thompson is hoping the Black Eyed Peas member will help the company in their aim to make a distinctive presence for themselves on social media and other digital media platforms.

In exchange for his proposed £4 million, the 'Scream & Shout' hitmaker will be expected to take part in public relations on behalf of Atom, attend board meetings, and publish social media posts about the company to his 13.6 million Twitter followers and 805,000 Instagram followers.

According to Sky News, an industry source claims Atom's shareholders were informed of the agreement earlier this month, but says will.i.am's identity has yet to be revealed to the existing vendors.

And banking investment isn't the only thing will.i.am has been working on lately, as he previously announced he was working on an ''exciting'' new project with the Black Eyed Peas, following their 2011 hiatus.

Speaking at the launch of the new series of 'The Voice UK' - attended by BANG Showbiz - he shared: ''I don't want to say the word album because that just dates you, but we're doing a new project. It's really exciting.

''It's the best time to be creative right now with all the tools and folks doing what's best for themselves and creating in different mediums.

''I'm staying very vague but I'm so excited about the stuff we're going to do this year.

''And I love tech, so it's going to be jam-packed with some awesome f***ing tech.''