ClearBank, the enabler of real-time clearing and embedded banking, has announced a collaboration with PhotonPay, an AI-powered global digital financial infrastructure provider offering payment solutions to businesses worldwide. Through this collaboration, PhotonPay’s business customers will gain access to a wider range of financial services, including virtual accounts, GBP collections, payouts, and Confirmation of Payee (CoP) functionality.

Powered by ClearBank’s API-based banking infrastructure and real-time clearing services, PhotonPay will issue named virtual accounts and provide real-time connectivity to Faster Payments, BACS, and CHAPS to its customers. These enhanced capabilities will allow enterprises operating in the UK to benefit from faster settlement, more flexible liquidity management, and greater operational control.