Volopa announces partnership with ClearBank
Volopa, the transaction, payments, and expenses company, has partnered with ClearBank, the enabler of real-time clearing and embedded banking for financial institutions, to allow it to significantly expand the services it can offer its growing portfolio of SME clients. ClearBank is a purpose-built, technology-enabled clearing bank which enables partners, like Volopa, to offer real-time payment and innovative banking services to their customers.
The partnership with ClearBank will support Volopa with its current banking requirements, and in the future, allow it to provide its clients with enhanced banking services and expand its product range.
Volopa currently brings together three products into one offering: global payments from the UK to 180 countries worldwide, multicurrency prepaid company cards, and simplified employee expense management. Volopa empowers CFOs, FDs and Treasurers to save time and money, and to help optimise company performance, through one single platform. Volopa is easy to integrate and works effectively as a single layer across a client’s existing banking and fintech partners. The Volopa platform also fully integrates with QuickBooks and Xero, reducing friction and increasing efficiency.
The partnership is part of Volopa’s application for an e-money licence, which is expected to be granted later this year by the Financial Conduct Authority. After the e-money licence is secured and ClearBank’s technology platform is fully integrated, Volopa’s customers will be able to access UK payment rails allowing them to transfer funds to individuals, businesses, or other financial institutions. Furthermore, they will be able to open safeguarded bank accounts and virtual accounts. Volopa can also offer its growing client base multicurrency; cross-border payments and FX solutions.
The partnership with ClearBank is another major milestone in the development of Volopa. Last year, a 9-strong elite team from American Express joined Volopa across FX and Operations, taking the total number of sales team members to 16, which has accelerated the company’s growth. Furthermore, earlier this year, Volopa partnered with Yapily, a leading Open Banking API provider, to deliver a seamless payment experience for finance teams.
Part of Quantum Group, the fintech and security incubator, Volopa has the financial backing to grow its offering in response to client demand. Quantum has indicated it plans to list on the London Stock Exchange in the next 12-18 months.
“Our partnership with ClearBank will be a game changer in terms of the products and services we can offer our clients. At Volopa, we aim to create innovative and bespoke solutions that directly meet the real world needs of our SME clients. We respond quickly to user feedback, to deliver a constantly evolving, platform based, group of products and services, supported by exceptional levels of customer service. Our clients like what we provide and tell us they want to do more with us, especially as global economic and supply chain challenges accelerate the need for digital solutions in UK businesses. The range of products and services that the partnership with ClearBank will enable us to provide will mean we can deepen and grow our relationships with our clients, as well as attract new ones.”
“We are delighted to be partnering with Volopa, enabling them to further expand their services to clients. Our cutting-edge technology will empower them to provide seamless access to UK payment rails, along with accounts and virtual account solutions. This collaboration not only bolsters Volopa’s current banking services but also paves the way for future product expansions. We look forward to further deepening our relationship as Volopa continues to grow its client offering.”
