ClearBank, an enabler of real-time clearing and embedded banking, has expanded its next-generation banking and payments services to directly serve UK corporate businesses. The move marks a new chapter in the company’s growth strategy, extending its offerings beyond the financial services sector.
The company is targeting pain points in traditional transaction banking, which it states have often been hampered by legacy infrastructure and batch-based systems. According to ClearBank, these outdated systems can lead to increased operational overheads for corporates due to the need for manual reconciliation, payment processing, and tracking.
ClearBank’s approach is to offer its core services of real-time, API-based access to payments and accounts, rather than bundling them with credit or trade finance products. The bank currently provides banking and payments services to over 250 clients, including fintechs such as Capital on Tap and Tide, through which it serves more than 10 per cent of the UK SME market.
Real-time payments and embedded banking
The expansion will focus on two key offerings for corporate clients. The first is real-time transaction banking services, providing API-based connectivity to major UK payment schemes including Bacs, CHAPS, and the Faster Payment System (FPS). This is designed to give businesses timely access to information for decision-making and to modernise their payment and account processes.
The second core offering is an embedded banking proposition. This provides businesses with the tools to embed financial services, such as payments, bank accounts, and savings accounts, directly into their own brand experiences. By building on top of ClearBank’s regulated banking infrastructure, companies can offer compliant services, including protection on eligible deposits, without needing to acquire their own banking licence.
The direct-to-corporate service will initially target sectors that rely on high volumes of seamlessly processed payments, such as travel, hospitality, payroll, and technology.
Emma Hagan, CEO at ClearBank UK, commented on the expansion: “The digital transformation in the broader economy has shifted expectations, and a one-size-fits-all approach to transaction banking is no longer fit for purpose. ClearBank has helped power the UK’s financial revolution, delivering speed, transparency, and reliability for financial services providers. We’re now bringing that proven model to corporate businesses, giving them the tools to move beyond outdated legacy banking processes and create new opportunities to engage with customers.”
Hagan added: “This is a significant moment for both ClearBank and UK businesses, as we partner to deliver real-time payments and banking to support growth, efficiency, and transformed customer experiences.”
