Banking providers that support fintechs offering savings accounts include ClearBank, NatWest Boxed and SolarisBank. 

Fintechs that want to offer interest-bearing savings accounts usually need to partner with a licenced bank. In the UK and Europe, deposit-taking and paying interest are regulated activities, so most fintechs cannot do this on their own. 

Several banking licence providers now specialise in supporting fintechs through Banking-as-a-Service (BaaS) or embedded banking models. These providers allow fintechs to launch FSCS-protected or guarantee scheme-protected savings accounts without becoming fully licensed banks themselves. 

In this context, the term fintech is often used as a catch-all. However, when it comes to offering interest-bearing savings accounts, we are typically referring more specifically to regulated Electronic Money Institutions (EMIs) or Payment Institutions (PIs). For clarity, this distinction is made here, with fintech used as a shorthand thereafter. 

As fintech products mature, savings accounts are often the next logical step. 

They help fintechs: 

• Increase customer balances
• Improve retention by keeping users’ deposits inside the app
• Generate new revenue from interest margin or revenue share
• Compete with challenger banks and traditional high-street banks  

From the customer’s perspective, in a market where they can shop around for the best deals, they’re looking for: 

• A safe place to hold funds
• Protection on eligible deposits through FSCS or EU deposit guarantee schemes
• Competitive interest rates
• No need to move money to a separate banking app  

Embedded savings allow fintechs to meet these expectations without rebuilding their entire business around banking regulation.

To offer an interest-bearing savings account, a fintech could take one of two routes. 

This means becoming a regulated deposit-taking institution. 

Pros 

• Full control over products, pricing and balance sheet
• No dependency on a third-party bank  

Cons 

• Multi-year authorisation process
• High capital requirements
• Significant ongoing compliance and operational costs  

For most fintechs, this option is time and capital-intensive. 

This is the most common approach. 

Under this model: 

• The licenced bank holds customer deposits and pays interest
• The fintech controls the app, branding, UX and distribution
• Eligible deposits are protected under FSCS (UK) or equivalent EU schemes
• The bank provides the account and payments infrastructure, compliance and governance requirements and oversight. 

This allows fintechs to launch savings products faster and at lower cost, while remaining compliant. 

ClearBank is the UK’s first cloud-native clearing bank and an established provider of embedded savings infrastructure. 

It enables regulated non-banks, such as EMIs and fintech platforms, to offer: 

• FSCS-protection eligibility on deposits
• Individual customer accounts (not pooled wallets)
• Direct access to UK payment schemes, including:
• Faster Payments
• CHAPS  

Why fintechs choose ClearBank 

• API-first, real-time payment infrastructure
• Fintech retains full control of UX, onboarding and branding
• Clear separation between customer experience and regulatory oversight  

Real-world examples 

• Tide launched interest-bearing accounts for over 600,000 UK SMEs
• Chip uses ClearBank for instant-access savings and Cash ISAs, with £5bn+ in deposits by the end of 2024
• Capital on Tap built and launched an SME-focused savings account in under 6 months, reaching £1bn in deposits in a year. 
• Coinbase launched embedded savings accounts in its UK app in late 2025 

These examples show how embedded banking can support both traditional fintechs and digital-asset platforms. 

NatWest Boxed is the embedded finance and BaaS arm of NatWest Group, combining a Tier-1 bank balance sheet with modern cloud technology. 

It allows consumer brands and fintechs to embed: 

• FSCS-protection eligibility on deposits
• Regulated onboarding and compliance flows
• Faster Payments top-ups and withdrawals  

How the model works 

• NatWest Boxed handles compliance, operations and fulfilment
• The partner focuses on customer engagement, brand and distribution  

Common use cases  

• Retail and consumer brands
• Membership organisations
• Established non-financial brands entering financial services  

Examples such as Saga Money and The AA show how embedded savings can increase loyalty and unlock new revenue streams without becoming a bank. 

Solaris is a German-licensed bank operating across Europe with a modular, API-based embedded finance platform. 

Its full banking licence allows Solaris to support:  

• Interest-bearing savings accounts
• Current accounts and other deposit products
• Multi-country launches via EU passporting  

Key strengths 

• Daily interest accrual with monthly payouts
• Configurable interest rates at partner level
• Local regulatory and tax handling in markets like Germany:
• Tax exemption orders
• Annual interest reporting  

Fintechs such as Vivid and Tomorrow use Solaris to embed savings into consumer apps across multiple European markets. 

Solaris is particularly well-suited to fintechs with cross-border ambitions that want a single banking partner. 

Although all three providers support embedded savings, they differ in important ways. 

Fintechs should evaluate:  

• Jurisdiction and deposit protection: FSCS (UK) vs EU deposit guarantee schemes
• Account structure: Pooled accounts vs individual customer accounts
• Control over UX and onboarding
• Payment infrastructure: Real-time payments and reconciliation
• Strategic alignment: Whether the bank competes directly for end customers 

For most fintechs, partnering with a licensed BaaS or embedded banking provider is the fastest and most capital-efficient way to launch savings accounts. 

As customer expectations rise, embedded savings are becoming a baseline feature rather than a differentiator, making the choice of licence provider a critical long-term decision. 

No. Most fintechs partner with a licensed bank through a BaaS or embedded banking model. The bank holds deposits and pays interest, while the fintech controls the user experience. 

In the UK, eligible deposits are protected by the Financial Services Compensation Scheme (FSCS) up to £120,000 per customer, per bank. In the EU, equivalent national guarantee schemes apply. 

Pooled accounts hold multiple customers’ funds together under a trust structure. Individual accounts give each customer their own account number and deposit protection entitlement. The choice affects UX, reconciliation and regulatory complexity. 

With an embedded banking partner, fintechs can typically launch within months rather than years, depending on compliance readiness and product complexity. 

They are closely related. BaaS refers to the regulated infrastructure provided by the bank, while embedded banking describes how those services are integrated directly into a non-bank’s product or app. 

Sources: 

• https://www.nwboxed.com
• https://www.nwboxed.com/solutions/instant-access-savings/
• https://www.nwboxed.com/consumer-brands/
• https://thebanks.eu/articles/how-to-choose-a-banking-as-a-service-platform
• https://fintechmagazine.com/articles/top-10-banking-as-a-service-providers
• https://docs.solarisgroup.com/guides/digital-banking/savings-accounts
• https://www.solarisgroup.com/en/services/accounts/