Wednesday, 18 April 2018

Competition in central clearing

Clear.Bank® launched last year, founded by Nick Ogden, the man behind WorldPay. Their mission statement says:

ClearBank® delivers essential clearing and settlement capabilities for any organisation that provides financial services, opening up competition in UK banking for the first time in more than two centuries.
We’ve built a state of the art technology platform specifically designed for clearing services, connected to all UK payment schemes.

It should bring welcome competition to the charmed circle. The Ecology Building Society is one mutual organisation which is taking advantage, subject to member approval.

No comments: