ClearBank Limited
| Private limited Company | |
| ISIN | 🆔 |
| Industry | Open Banking, Banking |
| Founded 📆 | 2015 |
| Founder 👔 | Nick Ogden |
| Headquarters 🏙️ | London, England, UK |
Area served 🗺️ | |
| Members | |
Number of employees | 438 |
| 🌐 Website | {{URL|example.com|optional display text}} |
| 📇 Address | |
| 📞 telephone | |
ClearBank is a clearing and agency banking platform[1][2] with Banking license in United Kingdom authorized by the Prudential Regulation Authority (PRA) and regulated by the Financial Conduct Authority (FCA) and the PRA.
History
ClearBank was founded in August 2015[3] by Nick Ogden.
In December 2016, ClearBank was granted a banking license in the United Kingdom[4] and started operation as one of the clearing houses[5] for CHAPS payments scheme.
In March 2022, Clearbank raised $230M[6] from Apax to expand into Europe and the US by providing multi-currency accounts and cross border payments functionality.
In October 2022, ClearBank generated £45.4m in revenue in the year to date and reached monthly profitability. The bank has nearly tripled its revenue for the year to date compared to the same period last year, and FY2021 was the second consecutive year that ClearBank’s revenue grew by over 100%.[7]
Technology and API
ClearBank uses cloud infrastructure Azure and provides API first approach for agent banking business model. ClearBank API is a JSON RESTful API which allows to interact with Accounts, Clearing, and Embedded Banking products[8] . It provides 2 environments: sandbox and production. For moving into the production FIPS 140-2 compliance is required.
References
- ↑ "Digital Disruption Has Arrived In FinTech". Forbes. Retrieved 27 December 2022.
- ↑ "ClearBank raises £175 million for global expansion". Axios. Retrieved 27 December 2022.
- ↑ "CLEARBANK LIMITED". Companies House. Retrieved 27 December 2022.
- ↑ "Worldpay founder to launch challenger bank to focus on fintech". Financial Times. Retrieved 27 December 2022.
- ↑ "CHAPS Bank of England". Bank of England. Retrieved 27 December 2022.
- ↑ "ClearBank, a UK banking rails provider, raises $230M". Tech Crunch. Retrieved 27 December 2022.
- ↑ "ClearBank reaches profitability". Clear.Bank. Retrieved 27 December 2022.
- ↑ "ClearBank description at Fintech Garden". Fintech Garden. Retrieved 27 December 2022.
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