ClearBank has been named as one of six firms in the first cohort of the joint Scale‑up Unit, launched by the Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA). The Unit is designed to strengthen engagement between regulators and fast-growing financial institutions, helping them scale sustainably while supporting innovation across the sector.
The Scale-up Unit, announced last year, will give participating firms tailored guidance as they expand into new markets, attract new customers, and develop new products. The first cohort includes:
Over the coming months, PRA and FCA teams will meet regularly with participating firms, both collectively and individually. These sessions aim to help scale‑ups navigate the regulatory landscape more effectively, while giving the regulators deeper insight into firms’ experiences so they can continue improving processes for the wider industry.
“Scaleups are an important engine room of the UK economy, driving innovation, attracting inward investment and supporting the Government’s growth agenda. ClearBank is delighted to be supporting this agenda, and to contribute to a programme that recognises the vital role these firms play in strengthening UK plc. This new Unit will help ClearBank accelerate progress on critical initiatives that support our clients and the wider financial services sector in the UK.”
For more information, visit the Bank of England’s overview of the Scale-up Unit: Scale-up Unit : Banks and Building Societies | Bank of England
