Privat3 Money partners with ClearBank to bolster accounts and e-wallet functionality

By Joy Dumasia

ClearBank, the cloud-based clearing bank, announced its partnership with e-money scale-up PRIVAT3 MONEY (“P3”). The partnership will improve the experience of clients using P3 accounts and e-wallets for deposits and payments, as well as multi-currency accounts and foreign exchange shortly. ClearBank’s infrastructure will improve transaction speed and efficiency for P3’s clientele, primarily comprised of professionals, entrepreneurs and high net worth individuals.

P3 has chosen to work with ClearBank to deliver these improvements because of the latter’s ability to offer faster customer onboarding, instant account openings and rapid transactions, all through its API-driven solution. The enhanced services will be a prominent feature of P3’s core offering, its e-wallet, accessible via Apple and Android smartphones.

Reda Bedjaoui, CEO of P3, said: “There is now a huge demand for premium financial products and services that can offer a seamless user experience and unparalleled speed to consumers. We were seeking a partner with a comprehensive tech platform who could streamline our services and allow us to build and innovate again easily when we are ready for the next stage of growth. By working with ClearBank, we will be able to exceed our client’s high expectations, helping to provide super-fast onboarding times and digital accounts in the palm of our user’s hands. This will drive a new level of financial freedom among our clients and help underpin the growth of our business.”

Charles McManus, CEO of ClearBank, said: “ClearBank is an API-native company, with this technology at the heart of our offering. We pride ourselves on working with digital-first firms such as P3, who are looking to differentiate themselves within the competitive FinTech and financial services markets. It is great to have the initial offering up and running, and we’re looking forward to further developing our partnership with P3 in the coming months and years.”