Charles McManus, CEO of ClearBank

UK-based ClearBank‘s Banking as a Service offering has been selected by e-money institution SettleGo, in order to enable seamless integration with real-time payment services across CHAPS and 24x7x365 Faster Payments.

According to the supplier, the offering is expected to expand SettleGo’s payment capabilities. Apart from this, customers are expected to benefit from real-time account creation and UK IBANs associated with each account.

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 fintechs 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.”

Established in 2015 and headquartered in London, SettleGo is a global banking and payments platform that offers local-named, multi-currency virtual IBANs, low-cost FX, international and local transfers and a secure API.

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.”

Recently, ClearBank’s Banking as a Service solution was selected by London based digital securities exchange Archax.

by Megha Bhattacharya
Market Analyst at IBS Intelligence
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