Contis has formed a strategic partnership with ClearBank, the UK’s first new clearing bank in more than 250 years, adding them as an additional clearing channel to access UK payments.
This relationship further extends the client options available within Contis’ fully-configurable payments platform and cements its ability to provide cost-effective, scalable, real-time payments as an alternative banking provider to clients throughout the UK. ClearBank continues to aggressively reform the clearing services market, and this partnership is another in a long-line of client wins since its launch in 2017.
Contis uses ClearBank’s real-time APIs to complement its comprehensive product offering throughout the EEA incl. Faster Payments, CHAPS, BACS, Direct Debit, SEPA, pan-European Visa Issuing and in-house Visa processing.
As the account holder and platform provider, Contis also retains full responsibility for account creation, KYC/AML, reconciliation, settlement, cash management and treasury of all accounts on its platform.
Peter Cox, Executive Chairman of Contis said: “We are excited to be partnering with ClearBank, and both parties understand the advantages of utilising their respective leading-edge, cloud-based technologies to change the face of banking. In sharing the benefits of hundreds of millions of Contis payments across multiple trusted partners, both parties will build resilience and economies of scale.
Charles McManus, CEO of ClearBank: “Our proposition has been designed and built to provide a new way to deliver banking services. We’re really excited to provide this service to Contis and assist them in their mission to empower corporates and the general public, by delivering innovative banking and associated payment solutions.”