ClearBank is built on the belief that banking infrastructure should no longer slow down progress. Instead, it should be the catalyst that unlocks the potential to innovate. Furthermore, it can adapt to cater to different needs so a new era in Financial Services can flourish. Financial institutions – from FinTechs and crypto platforms like Coinbase, to banks and credit unions – use its API to offer their customers fully regulated banking infrastructure and real-time clearing access. This way, businesses can grow on their own terms and stay ahead – at speed.
ClearBank’s Growth Agenda
The combination of technology paired with a banking licence sets ClearBank future ready and positioned well for growth in the UK. Moreover, it has been “built from scratch in the cloud with a modern technology stack” explains UK CEO Emma Hagan. “We are not encumbered by legacy platforms, systems or technology and don’t have to battle outdated processes. Everything was built new based on what clients need from an infrastructure-type bank in the market. We were created with customer needs in mind and fashioned for that whole purpose.”
Negotiating Regulation & Governance
In a bid to do business globally from day one, ClearBank has remained focused on a long-term view. “My background in risk and compliance helps us think through that,” adds Emma. “We need to be able to best serve the needs of the market for today and tomorrow. So, how do we keep innovating whilst maintaining good risk and control environments so that people can see that and clients know that their money is safe?
“Obviously, we work with many financial services companies. They want to work with a banking partner who takes this as seriously as they do. We are able to navigate that and have conversations with them to help them think through different solutions. We’re there to build products and services that they need with risk and compliance embedded into them. I think that’s been a big benefit that we have offered to date and will continue to be as we grow.”
Building on Success at ClearBank
Securing an EU banking licence in 2024 has allowed ClearBank to target new markets in its bid to become more of a regional player. Furthermore, it’s now better positioned to support growing clients going overseas. “To get what we offer in the UK also in the EU via the EU payment rails,” says Emma. “Moreover, we’ve also been partnering with large established companies, such as Revolut, on their savings offering. And we’ve got quite a few things in the pipeline in addition to other big partnerships recently announced. These include an initiative with Visa for issuance and money movement across the UK and EU.”
Future Plans for ClearBank
International scaling is near the top of the agenda for ClearBank over the next 18 months. “Beyond offering UK payment access to all schemes, we’re being very thoughtful about our expansion,” reveals Emma. “We will continue to build out that product proposition roadmap for both our UK clients and also new EU clients with the direct access to European payment schemes.
