BankingChallenger Bank Partners With Europe’s Most Valuable Fintech

OakNorth, which has lent over £2.7bn to businesses across the UK, will use ClearBank’s real-time ‘Faster Payments infrastructure’
FintecBuzz FintecBuzz8 months ago2353 min

Europe’s most highly-valued FinTech has announced a strategic partnership with new ‘challenger’ clearing bank ClearBank.

OakNorth, which has lent over £2.7bn to businesses across the UK, will leverage ClearBank’s platform to provide highly scalable real-time payments and agency banking services.

OakNorth will use ClearBank’s real-time ‘Faster Payments infrastructure’, allowing for instant payments.

“We were looking for a partner to provide us with real-time payment capabilities, and after speaking to a number of providers, we felt ClearBank was the best fit for our needs,” said Amir Nooriala, COO of OakNorth.

“Their API and virtual account support capabilities are best-in-class and in them, we’ve found a long-term, strategic partner who will enable us to provide an even faster and more seamless experience for our clients.”

Nooriala recently told BusinessCloud that a combination of out-of-date systems and large customer bases will make the future difficult for traditional banks.

ClearBank, which was set up by FinTech entrepreneur Nick Ogden, recently received £60m from RBS,made available as part of conditions dating back to its £45 billion 2008 UK government bailout.

“Since its launch just a few years ago, it has established itself as one of the fastest-growing and most successful fintechs in Europe and as a key enabler and supporter of businesses,” added Charles McManus, CEO of ClearBank.

“We look forward to working with OakNorth as it continues to build its offering and customer base across the UK.”

Source Url

Also Read -Top 3 Holiday Marketing Strategy for Fintech Start-ups



Leave a Reply

Your email address will not be published. Required fields are marked *

Fintech has redefined the banking and financial services to the next level. With the regular emerging trends surrounding the fintech arena, it gets difficult for CFO’s and tech-finance people to keep a hold onto the latest trends along with the added complexity of deciding what helps and what not. This is where we emerged for a solution. We are one of the world’s leading Fintech-based media publication with our content strategized and synthesized to fit right into the expanding ecosystem of Finance professionals. Be it our press releases, tech articles from Fintech evangelists or interviews from top leaders from global fintech firms, we give the best slice of knowledge topped up with the most apt trends. Our sole mission is to help tech and finance professionals step up with the rapidly emerging Fintech civilization and gain better insights to emerge victorious in every possible way.

FintecBuzz, 2019 © All Rights Reserved