The relationship will utilize the capabilities of Temenos Payments, a universal cloud-native, cloud-agnostic payments platform, and lower the barriers to entry into the UK payments schemes through ClearBank’s proven clearing connectivity. Temenos and ClearBank’s joint customers will benefit from a comprehensive, end-to-end service and rapid access to real-time payments services, including Bacs Payment Schemes Limited (Bacs), CHAPS and Faster Payments, through ClearBank’s API-based services.

Temenos and ClearBank’s cloud-native banking technology will deliver tangible business benefits to customers by reducing the time to market, cost and complexity involved in deploying seamless payments services. The synergistic collaboration will also futureproof banks’ payments capabilities, supporting them to easily comply with changing payments regulation and adapt their services to new local schemes.

Charles McManus, Chief Executive Officer, ClearBank, stated: “We are delighted to form this strategic relationship with Temenos and extend the capabilities of our cloud-native banking services to reach a greater number of banks and financial institutions in the UK. Temenos’ market-leading banking software serves a truly global customer base and we are excited to expand our combined offering outside of the UK payments market as our alliance strengthens over time.”

Des Noctor, Regional Director, UK, Temenos, commented: “We are excited to form a strategic business relationship with ClearBank. The payments market is growing at an astronomical pace in response to digital banking adoption and swelling payments volumes. At this pivotal time, it is vital that banks have a fast and effortless route to market so they can quickly respond to customer appetite for real-time cloud payments. Powered by cloud-native, cloud-agnostic and AI-enabled technology, Temenos Payments provides the richest payments functionality for seamless, real-time customer experiences. Together with ClearBank, we will extend this offering to provide the most comprehensive offering for UK banks deploying payments in the cloud.”