• Finseta will leverage ClearBank’s API driven platform to offer GBP and multi-currency (MCCY) accounts
• Partnership will allow individuals and merchants to make more efficient, real-time transactions and access additional currencies
• New accounts aim to unlock new segments for Finseta through increasing its ability to support clients in high-value international transactions

ClearBank, the enabler of real-time clearing and embedded banking, today announces its partnership with Finseta plc (AIM: FIN), a foreign exchange and payments solutions company, to deliver agency banking services supporting GBP and multi-currency (MCCY) accounts.

Under this partnership, Finseta will leverage ClearBank’s virtual IBAN technology to provide both GBP and MCCY wallets for its UK customers, allowing Finseta’s customers to move money faster and more efficiently. ClearBank’s secure, real-time payment infrastructure will support individuals and merchants with complex international payment and FX requirements, as well as allowing them to access additional currencies.

This partnership marks an important milestone for both organisations. For Finseta, it strengthens its ability to unlock new segments and support clients in high-value international transactions and complex FX scenarios. For ClearBank, it represents another step in expanding its support for fintechs operating in the international payments ecosystem and its ability to facilitate real-time foreign currency payments.

Following initial discussions at the start of the year, ClearBank’s innovative API technology and collaborative approach allowed Finseta to move from approval in September to full deployment in just a few months. Finseta’s technical team quickly integrated into ClearBank’s GBP and MCCY APIs, connecting its customers into ClearBank’s real-time rails and enabling them to make transactions immediately upon approval.

The collaboration will initially serve Finseta’s UK customers, with plans underway to extend the partnership into Europe. Through the partnership, Finseta hopes to access the SEPA payments rails to expand its operations on the continent and broaden its offering.