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.
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