Digital banking FinTech OakNorth is partnering with payments clearing platform ClearBank, enabling the former to offer instant payments and agency banking services.
ClearBank will initially provide real-time Faster Payments infrastructure to OakNorth.
The expansion of OakNorth’s banking infrastructure comes after it secured a $440 million investment led by the SoftBank Vision Fund last month, in a round that took the company’s funding to more than $1 billion, making it the most highly valued FinTech unicorn in Europe.
The company, which claims it has lent over £2.7 billion to UK businesses since it launched in 2015, said it chose to partner with ClearkBank due to the efficacy of the their Application Programming Interface (APIs) and account support capabitlities.
Amir Nooriala, chief operating officer at OakNorth, said that ClearBank was a “long-term, strategic partner” whose technology would support a faster and more seamless experience for clients.
Latest News
-
Gemini to cut quarter of workforce and exit UK, EU and Australia as crypto slump forces retrenchment
-
Bank ABC’s mobile-only ila bank migrates to core banking platform
-
Visa launches platform to accelerate small business growth in US
-
NatWest to expand Accelerator programme to 50,000 members in 2026
-
BBVA joins European stablecoin coalition
-
eToro partners with Amundi to launch equity portfolio with exposure to ‘megatrends’
Creating value together: Strategic partnerships in the age of GCCs
As Global Capability Centres reshape the financial services landscape, one question stands out: how do leading banks balance in-house innovation with strategic partnerships to drive real transformation?
Data trust in the AI era: Building customer confidence through responsible banking
In the second episode of FStech’s three-part video podcast series sponsored by HCLTech, Sudip Lahiri, Executive Vice President & Head of Financial Services for Europe & UKI at HCLTech examines the critical relationship between data trust, transparency, and responsible AI implementation in financial services.
Banking's GenAI evolution: Beyond the hype, building the future
In the first episode of a three-part video podcast series sponsored by HCLTech, Sudip Lahiri, Executive Vice President & Head of Financial Services for Europe & UKI at HCLTech explores how financial institutions can navigate the transformative potential of Generative AI while building lasting foundations for innovation.
Beyond compliance: Building unshakeable operational resilience in financial services
In today's rapidly evolving financial landscape, operational resilience has become a critical focus for institutions worldwide. As regulatory requirements grow more complex and cyber threats, particularly ransomware, become increasingly sophisticated, financial services providers must adapt and strengthen their defences. The intersection of compliance, technology, and security presents both challenges and opportunities.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories