• PayCaptain will become ClearBank’s first non-financial services Embedded Banking partner
• Collaboration will deliver real-time payroll payments and embedded savings accounts for employees at over 300 corporate clients, specialising in the hospitality and retail sectors
• Long-term partnership delivers an easy, transparent approach for employees to build savings and enhance their financial resilience

ClearBank, the enabler of real-time clearing and embedded banking, today announces its partnership with innovative payroll software platform PayCaptain, powering real-time salary payments for more than 50,000 employees across its network of over 300 corporate clients. 

PayCaptain will become ClearBank’s first embedded banking partner in the corporate sector, marking a significant milestone on the bank’s journey to deliver embedded financial services at the point of need across any industry.

Research shows that 23% of UK adults have £200 or less in savings, while 1 in 6, equating to around 8.4 million people, have no savings. Without that safety net, individuals may turn to costly solutions such as loans, overdrafts, or credit cards for emergencies.  

To change that, PayCaptain - which delivers payroll for a number of leading retail and hospitality businesses – is launching an innovative embedded savings service for employees at its corporate clients, powered by ClearBank. Through PayCaptain’s award-winning mobile app, employees will be able to put a portion of their pay directly into a savings account, empowering them to take control of their financial future.

By leveraging ClearBank’s modern, resilient, and secure Embedded Banking platform, employees at PayCaptain’s clients will benefit from competitive interest rates and the additional peace of mind that comes from building funds in FSCS-protected embedded savings accounts.