At the vanguard of embedded banking, ClearBank is the first new full-service clearing bank to open in the UK in more than 250 years. It offers financial institutions and fintechs state-of-the-art banking infrastructure. Under the leadership of Paul Staples, Group Head of Embedded Banking, ClearBank serves over 250 clients, including fintechs like Tide, Chip, and Raisin, enabling them to facilitate faster and more efficient transactions through its proprietary API. This technology-first approach allows businesses to clear payments in real-time, offer FSCS-protected accounts, and provide highly competitive interest rates to customers. ClearBank’s banking license offers access to all major UK payment schemes, addressing key challenges around compliance and risk.
Paul Staples, ClearBank's Group Head of Embedded Banking, has played a pivotal role in shaping the firm’s offerings. With over 20 years of experience in the sector, including founding HSBC’s Global Embedded Banking business, Staples is a prominent advocate for well-regulated Embedded Finance. Under his leadership, ClearBank has continued to innovate and expand its services, empowering clients to offer a range of financial products without needing to acquire their own banking licenses. The company’s strategic partnerships have proven successful, with ClearBank reporting a 91% increase in income in 2023 and ongoing growth across its embedded banking solutions.
