ClearBank provides banking services to Ziglu

ClearBank’s technological infrastructure, regulated payment rails and treasury management service have strengthened Ziglu’s banking and investment offerings, enabling Ziglu to offer virtual GBP accounts to its customers.

ClearBank powers Ziglu’s real-time processing and reporting for its GBP virtual accounts, using API and cloud-based solutions, which allows for products to be modified at speed in a live environment. The virtual accounts provide Ziglu customers with access to all the UK payments schemes, including real-time payments via Faster Payments. As well as making these customer-facing improvments, ClearBank’s embedded banking platform has improved operational efficiencies, allowing Ziglu customer teams to resolve missing or pending payment queries faster.

ClearBank’s platform gives Ziglu’s end-customers safeguarded accounts, removing third-party credit risk. ClearBank payments are cleared in-house and funds, which are held securely at the Bank of England, are not used for investment purposes. The two firms are currently exploring a future phase of the partnership to offer FSCS protected accounts to Ziglu's customers.