Fondy to offer merchant customers virtual IBAN accounts through ClearBank integration

By Edlyn Cardoza

ClearBank, the enabler of accounts, real-time clearing, and embedded banking for financial institutions, announced its integration with Fondy, a one-stop payment platform, to provide e-commerce companies with an efficient, easy-to-implement shop payment solution. This solution will allow companies to manage and control their money flow – from acceptance of payments, IBAN accounts, and payouts to third parties.

Through ClearBank’s integration, new and existing merchant customers of Fondy will now have access to virtual IBAN accounts and the GBP payments network: Faster Payments, CHAPS and Bacs. This will enable faster and more efficient transactions at a greater scale and support new product offerings such as multi-currency business accounts. This unprecedented access to global payment networks in several currencies will empower businesses to provide better cash flow from online sales.

“Together with ClearBank, we are stronger and in a better position to instil real, positive change in the way businesses process payments” says Valeria Vahorovska, Founder & CEO at Fondy. “This partnership will allow us to take further steps toward integrating a multi-currency solution to our merchants. This is a very important milestone for us as we believe it will open several doors for us.”

Simplifying cash management and money movement for multiple currencies will allow Fondy to help clients reach their objectives faster than ever. Clients will be able to receive funds from their customers within the same day using Fondy Flow IBAN accounts, improving their cash flow from online sales. The access to several payment networks in the world in several currencies will empower Fondy’s customers by providing an unparalleled cash flow benefit, among other things.

“In a constantly evolving regulatory environment, smaller financial services companies can benefit from partner support by larger players in the space that have been around the block once or twice already” shared Charles McManus, CEO at ClearBank. “We’re pleased that, through ClearBank’s innovative technology and expertise in purpose-built banking, Fondy is able to reach its goal of providing clients with unparalleled access and control of their money flow.”