ClearBank has announced its partnership with Finseta in order to power its multicurrency and cross-border payments services.
Following this announcement, Finseta is set to utilise ClearBank’s virtual IBAN technology in order to provide both GBP and MCCY wallets for its UK customers, aiming to give users the possibility to move money faster and more efficiently.
In addition, ClearBank’s secure, real-time payment infrastructure is expected to support individuals and merchants with complex international payment and FX requirements, while also enabling them to access additional currencies.
Allowing individuals and merchants to make more efficient, real-time transactions and access additional currencies
According to the official press release, this partnership marks an important step for both organisations: for Finseta, the collaboration strengthens its overall ability to unlock new segments and support customers in high-value international transactions and complex FX scenarios, while for ClearBank, it represents another step in the process of expanding its support for fintechs that are operating in the international payments ecosystem and its overall ability to facilitate real-time foreign currency payments.
Furthermore, following initial discussions that took place at the start of 2025, ClearBank’s API technology and collaborative approach also allowed Finseta to move from approval in September to full deployment in a quick and secure manner. At the same time, Finseta’s technical team integrated into ClearBank’s GBP and MCCY APIs, while also connecting its customers to ClearBank’s real-time rails and enabling them to make transactions immediately upon approval.
Through the process of integrating directly with ClearBank’s API and leveraging its multicurrency capabilities, Finseta will be given the possibility to provide faster and more flexible solutions to its clients operating across borders. Furthermore, the partnership is expected to optmise the manner in which the company supports customers in the strategy of managing their payments and FX exposure with improved control and efficiency, unlocking new areas for growth as the firm expands into higher-value transactions.
The collaboration is expected to initially serve Finseta’s UK customers, with plans to extend the partnership into Europe currently underway. Moreover, through the partnership, Finseta aims to access the SEPA payment rails in order to expand its operations on the continent and broaden its overall offerings and suite of solutions.
