ClearBank, the UK’s first new clearing bank in more than 250 years, today announced that it has been selected by SettleGo, the international eMoney institution, for its Banking as a Service offering.
ClearBank’s offering will be leveraged by SettleGo to access a wide range of API-based services, including seamless integration with real-time payments services across CHAPS and 24x7x365 Faster Payments. Alongside this, SettleGo’s customers will benefit from real-time account creation and addressable UK IBANs associated with each account.
SettleGo enables small and medium sized businesses to trade and pay internationally, as if they were trading locally. Efficient and simple payment services provide customers with access to low-cost foreign exchange (FX) facilities, multi-currency IBANs and international and domestic transfers.
ClearBank’s services will help SettleGo expand its payments capabilities. This will further enhance SettleGo’s position as a leading financial technology platform that enables its customers to accelerate their growth through access to a global banking and payments infrastructure.
Charles McManus, CEO of ClearBank:
“We are thrilled to have been selected for our Banking as a Service offering by SettleGo. Our state-of-the-art platform has been designed to provide FCA regulated businesses, financial services providers and fintech’s such as SettleGo with access to a wide-range of API-based banking and payment services. We look forward to working closely with the SettleGo team to ensure they derive full value from these services, supporting the business as it expands upon its capabilities and continues on its exciting journey.”
Alistair Cotton, Director, SettleGo, said:
“We were looking for a partner to provide us with the additional banking infrastructure to complement our current offering. We very much look forward to the opportunities that working with ClearBank will create for us and our customers.”