Following this announcement, the strategic deal is expected to give Volopa the possibility to develop and expand its services, as well as to offer its small and medium-sized enterprises (SMEs) access to secure, efficient, and real-time payments and banking services.
Furthermore, Volopa is set to continue to optimise its current banking requirements, while also focusing on providing its users with an expanded product range in order to meet their needs, preferences, and demands in an ever-evolving market.
Volopa was developed in order to provide customers with a single, secure, and comprehensive platform that integrates global payments, multicurrency prepaid company cards, as well as employee expense tools. The firm focuses on delivering partners and clients control and visibility over their services, while also optimising the manner in which businesses unlock their potential and accelerate their development processes. Volopa is easy to integrate, and it was designed to work efficiently as a single layer across a client’s existing banking or fintech collaborators.
The partnership with ClearBank is expected to be a part of Volopa’s application for an e-money license, which is set to be granted later in 2024 by the Financial Conduct Authority (FCA). After the company secures its e-money licence and the technology platform of ClearBank is fully integrated, Volopa’s clients and users will have the capability to access UK payment rails. This process will allow them to transfer funds to individuals, financial institutions, merchants, and other businesses.
At the same time, customers will be enabled to open safeguarded bank accounts and virtual accounts, while Volopa will provide them with multicurrency, cross-border payments, and FX products as well. Both companies will prioritise the process of remaining compliant with the regulatory requirements and laws of the local industry. Furthermore, the partnership will give Volopa the opportunity to optimise its customer’s experience and satisfaction, while also attracting new ones.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now