Peter Cox, Executive Chairman of Contis

End-to-end payments platform Contis has entered into a partnership with UK-based ClearBank in a bid to enhance banking services on its platform. The supplier states that the partnership is expected to expand client options within its payments platform. It will enhance the supplier’s ability to provide real-time payments in the UK as an alternative banking provider.

Peter Cox, Executive Chairman of Contis said, “We are excited to be partnering with ClearBank, and both parties understand the advantages of utilizing their respective leading-edge, cloud-based technologies to change the face of banking. In sharing the benefits of hundreds of millions of Contis payments across multiple trusted partners, both parties will build resilience and economies of scale.

According to the supplier, it utilizes ClearBank’s real-time APIs in a bid to propel its offerings across EEA including faster payments, CHAPS, BACS, Direct Debit, SEPA, pan-European Visa Issuing, and in-house Visa processing. Contis also aims to support every aspect for account creation such as KYC/AML, reconciliation, etc. on its platform.

Charles McManus, CEO of ClearBank said, “Our proposition has been designed and built to provide a new way to deliver banking services. We’re really excited to provide this service to Contis and assist them in their mission to empower corporates and the general public, by delivering innovative banking and associated payment solutions.”

Recently, Contis announced the launch of a new product, Buffer, aimed at improving the supplier’s platform capabilities. The new product is expected to enable the funding of card payment transactions from a secondary source.

by Megha Bhattacharya
Market Analyst at IBS Intelligence