25th February 2019

OakNorth and ClearBank announce strategic partnership

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OakNorth, Europe’s most highly-valued fintech, and ClearBank®, the first new clearing bank in 250 years, announce strategic partnership

OakNorth, which has lent over £2.7bn to businesses across the UK, has today announced a strategic partnership with ClearBank®. The business will leverage ClearBank’s platform to provide highly scalable real-time payments and agency banking services. OakNorth will start off by using ClearBank®’s real-time Faster Payments infrastructure, allowing for instant payments.

Amir Nooriala, COO of OakNorth, said: “We were looking for a partner to provide us with real-time payment capabilities, and after speaking to a number of providers, we felt ClearBank® was the best fit for our needs. Their API and virtual account support capabilities are best-in-class and in them, we’ve found a long-term, strategic partner who will enable us to provide an even faster and more seamless experience for our clients.”

Charles McManus, CEO of ClearBank®, continued: “We are delighted to announce our partnership with OakNorth. Since its launch just a few years ago, it has established itself as one of the fastest-growing and most successful fintechs in Europe and as a key enabler and supporter of businesses. We look forward to working with OakNorth as it continues to build its offering and customer base across the UK.”

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