back Back

Manchester Credit Union selects ClearBank to enable real-time payments

By Megha Bhattacharya

February 16, 2021

  • Clearbank
  • UK

clearbankClearBank today announced that it has been selected by Manchester Credit Union for enablement of real-time payments. The clearing bank will be offering direct access to Faster Payments via incuto’s banking technology platform, thereby allowing the credit union to offer equitable banking services to its customers.

Christine Moore, CEO at Manchester Credit Union said, “…Offering real-time payments to our members opens up many new opportunities to us as a credit union. Covid-19 has only strengthened the need for members to have real-time, online access to their accounts and money, so we look forward to now offering this service through ClearBank and incuto.”

According to ClearBank, the partnership will allow for faster payment processing as well as a reduction in the cost of accessing Faster Payments to Credit Unions. The collaboration is expected to facilitate the provision of digital, real-time payments to members and boost support for financial education via accurate account information.

Charles McManus, CEO at ClearBank said, “…Financial inclusivity has never been so important. Living through the fallout of the pandemic means credit union members need to budget, save and plan and it’s essential they can control their money in real-time. Supporting Manchester Credit Union, who promote responsible lending and are focused on providing services to underserved end consumers, perfectly aligns with our commitment to positively impact the communities in which we live and work.”

Recently, ClearBank 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.

Andrew Rabbitt, CEO at incuto said, “…Having access to advanced services is vital for the digital transformation of credit unions. To truly offer a compelling alternative to pay-day lenders, real-time payments are crucial. Manchester Credit Union has been a leading light in the adoption of Faster Payments, enabling their members instant access to cash around the clock.”

Previous Article

February 16, 2021

UK FinTech iwoca announces UK-first integration with Xero

Read More
Next Article

February 16, 2021

Personetics secures $75 million investment from Warburg Pincus

Read More

IBSi Daily News Analysis


July 19, 2024


SMEs leverage cloud to gain competitive edge, study shows

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


UK Open Banking marks 10 million user milestone

Read More


Cash Plus goes live with Profile Software’s Finuevo Suite

Read More


OMS integrates GoCardless for smooth broker payments

Read More

Related Reports

Sales League Table Report 2024
Know More
Global Digital Banking Vendor & Landscape Report Q2 2024
Know More
NextGen WealthTech: The Trends To Shape The Future Q4 2023
Know More
IBSi Spectrum Report: Supply Chain Finance Platforms Q4 2023
Know More
Treasury & Capital Markets Systems Report Q1 2024
Know More

IBSi Sales League Table

The industry acknowledged barometer of global banking technology vendor performance!
Get your copy now!
Get your copy now! IBSi Sales League Table 2024