back Back

Ziglu partners with ClearBank to offer virtual GBP bank accounts

By Joy Dumasia

June 07, 2022

  • Clearbank
  • Crypto Customers
  • Crypto Trading
Share

ClearBank, the cloud-based clearing bank, announced that it provides agency banking services to the UK-based money app Ziglu. ClearBank’s technological infrastructure, regulated payment rails and treasury management service have bolstered Ziglu’s banking and investment offerings, enabling Ziglu to offer virtual GBP accounts to its customers. 

Charles McManus, ClearBank’s CEO, said: “Ziglu represents all that is exciting about FinTech and finance today. With a keen sense of what their banking, investment and crypto customers will want to see next, Ziglu is perfectly poised to continue growing in 2022 and beyond. ClearBank is very pleased to have partnered with Ziglu and to provide safeguarded Virtual GBP Accounts, and we look forward to expanding the proposition together for a long time to come.” 

ClearBank powers Ziglu’s real-time processing and reporting for its GBP virtual accounts, using API and cloud-based solutions, allowing products to be modified at speed in a live environment. The virtual accounts provide Ziglu customers access to all the UK payments schemes, including real-time payments via Faster Payments. As well as making these customer-facing enhancements, ClearBank’s embedded banking platform has improved operational efficiencies, allowing Ziglu customer teams to resolve missing or pending payment queries. 

ClearBank’s platform gives Ziglu’s end-customers safeguarded accounts, removing third-party credit risk. ClearBank payments are cleared in-house, and funds held securely at the Bank of England are not used for investment purposes. The two firms are currently exploring a future partnership phase to offer FSCS protected accounts to Ziglu’s customers. 

Mark Hipperson, Founder and CEO of Ziglu, said: “Ziglu will continue to champion the ClearBank platform. The improvements we’ve been able to deliver to customers through ClearBank have had a remarkable effect on user satisfaction. ClearBank offers us the best of both worlds, all the security of traditional banking, along with the means to quickly adapt and satisfy our digital-native customer base.” 

Ziglu entered the market with a strong emphasis on customer experience, providing in-app lifestyle management tools and a distinctive physical debit card to support fiat and cryptocurrency transactions, FX services in Sterling, Euro and US Dollar and investments. 

IBS Intelligence reported that ClearBank, the largest next-generation clearing and embedded banking platform in the UK, announced a £175 million equity investment. The round was led by funds advised by Apax Digital, the growth equity arm of Apax, a leading global private equity advisory firm. 

Previous Article

June 07, 2022

Citcon expands payments presence in APAC market

Read More
Next Article

June 07, 2022

Triterras selects Unqork to modernise its trade finance platform

Read More






IBSi Daily News Analysis

cloud,

July 19, 2024

Clearbank

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

July 23, 2024

4 BNPL platforms providing financial freedom to consumers in MENA

Read More

July 23, 2024

Paytm & Axis Bank to offer POS solutions to merchants

Read More

July 23, 2024

Klarna integrates Sofort payment service with Klarna 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!
close-link
Get your copy now! IBSi Sales League Table 2024