This collaboration aims to enhance Airwallex's offerings in the UK by integrating ClearBank's agency banking solution. Specifically, Airwallex will gain access to virtual business accounts, GBP collections, and Confirmation of Payee (CoP) functionality. These additions are expected to improve Airwallex's services for its business customers in the region.
Through this partnership, ClearBank will enable Airwallex to issue virtual accounts and IBANs under its own brand identity. This is intended to strengthen Airwallex’s financial platform, while allowing the company to retain its customer-facing branding and ensure a seamless experience for users.
By providing access to key UK payment schemes such as Faster Payments, BACS, and CHAPS, the partnership also supports Airwallex’s broader strategic goals of simplifying global payments and financial operations for businesses of all sizes.
The collaboration reflects both companies' commitment to innovation in the financial services sector. ClearBank’s cloud-based infrastructure allows for efficient integration, which is expected to streamline Airwallex’s UK operations. This, in turn, should help the platform offer businesses faster, more cost-effective payment solutions that meet their evolving needs.
Airwallex, which provides a comprehensive suite of financial services, including payments, treasury management, spend management, and embedded finance, serves businesses globally. The company’s proprietary infrastructure aims to remove friction from global financial operations, enabling businesses to unlock new opportunities and expand beyond their borders.
ClearBank, a technology-enabled clearing bank, operates with a banking license and is regulated by the Financial Conduct Authority and the Prudential Regulation Authority. It specializes in providing real-time payment solutions and supports its partners by offering robust banking services that enhance financial operations for businesses across various sectors.
This partnership underscores the growing demand for flexible financial solutions that combine the agility of fintech with the reliability of traditional banking systems.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now