ClearBank has formed a partnership with Finseta to enhance its multicurrency and cross-border payment services.

To support UK customers, Finseta will use ClearBank’s virtual IBAN technology for both GBP and MCCY wallets. This is expected to enable faster and more efficient transactions for users.

Moreover, ClearBank’s secure real-time payment infrastructure can assist individuals and merchants with complex international payments and foreign exchange (FX) needs, offering access to additional currencies.

Facilitating Real-Time Transactions and Currency Access

This partnership is a significant move for both ClearBank and Finseta. It helps Finseta penetrate new markets and manage high-value international transactions more effectively, while it allows ClearBank to support fintechs in the international payments space.

Initial discussions at the start of 2025 laid the groundwork for a swift deployment process. Finseta’s technical team integrated with ClearBank’s GBP and MCCY APIs, connecting customers directly to ClearBank’s real-time payment systems almost immediately after approval.

By integrating directly with ClearBank’s API and taking advantage of its multicurrency features, Finseta can offer quicker and more flexible services to its cross-border operating clients. This partnership is also expected to enhance customer management in terms of payment strategies and FX exposure with improved control and efficiency, opening up new growth opportunities.

The initiative will initially focus on UK customers but plans are already in place to extend the partnership across Europe. Additionally, Finseta aims to leverage SEPA payment rails to expand its European operations and widen its service offerings.