back Back

ClearBank to enhance current account offering for challenger bank Dozens

By Megha Bhattacharya

January 28, 2021

  • America
  • Clearbank
Share

Cloud-based clearing bank, ClearBank today announced that it will be supporting the challenger digital banking app Dozens to upgrade its current account offering. The collaboration will enable Dozens’ clients to set up direct debits, standing orders and instantly transfer money. ClearBank will provide new account numbers and sort codes as well as direct access to payment networks, such as Faster Payments, via a single API.

Dozens’ mission is to help its customers manage, save and grow their money. In already difficult economic times, lengthy transaction reporting times (resulting from poor underlying technology stacks) leads to opacity around most customers’ finances, making financial wellness an impossible goal. Partnering with a clearing bank that would enable us to become more agile with payment processing was paramount to improving and scaling our current account proposition, bringing socially responsible banking to the masses and unlocking new benefits for our customers.”

“ClearBank is that perfect partner – not only does its technology provide fast, seamless access to the full UK clearing system, it was also founded on the idea of challenging a sector left unchallenged for 250 years. As such, our company missions are in strong alignment looking at evolving the old banking model, in turn, to help people gain access to a better and fairer banking experience,” said Aritra Chakravarty, Founder and CEO of Dozens.

FinTech Dozens provides its customers with a current account, saving tools and investments, all in one app. Embedded automation helps users manage their money, save and budget with real-time updates. The app also houses new financial products, enabling customers to maximise their return on investment.

“As fintechs evolve, so do their banking requirements. More customers demanding more sophisticated functionalities creates a requirement for a flexible, technology-led, banking partner to truly help their businesses scale on demand,” said Charles McManus, CEO at ClearBank. “Helping fintechs grow is what we do best. We look forward to helping Dozens remain at the forefront of this banking industry shake-up and offer customers a better way to manage their money.”

Previous Article

January 28, 2021

Australia’s CBA accelerates digital strategy for customers

Read More
Next Article

January 28, 2021

PNC Bank to acquire payment solutions provider Tempus Technologies

Read More







Advertise with us



IBSi Daily News Analysis

payment-- MarPay. Pointspay

May 25, 2022

America

Why are Pointspay and MarPay gaining traction in the payment industry?

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

Paddle acquires ProfitWell to automate payments infrastructure for SaaS companies

Read More

Today

M1 selects Thought Machine to power The Finance Super App

Read More

May 24, 2022

3 FinTech companies based in Switzerland

Read More

Related Reports

Sales League Table Report 2021

£ 1,500.00 / year

Know More
Emerging Technologies in Capital Markets

£ 500.00

Know More
Global Digital Banking Vendor and Landscape Report Q1 2022

£ 1,500.00 / year

Know More
Wealth Management & Private Banking Systems Report Q1 2022

£ 1,500.00 / year

Know More
Treasury and Capital Markets Systems Report 2021

£ 1,500.00 / year

Know More