ClearBank has partnered with Finseta, a foreign exchange and payments solutions company, to offer agency banking services for GBP and multicurrency (MCCY) accounts.

Under the partnership, Finseta will use ClearBank’s virtual IBAN technology to provide GBP and MCCY wallets to its UK customers, enabling faster and more efficient money transfers.

ClearBank’s real-time payment infrastructure will support individuals and merchants with international payments and FX requirements, as well as access to additional currencies.

For Finseta, the partnership strengthens its ability to serve clients in high-value international transactions and complex FX scenarios.

For ClearBank, it extends support for fintechs in the international payments ecosystem and facilitates real-time foreign currency payments.

Following initial discussions earlier this year, Finseta integrated ClearBank’s GBP and MCCY APIs from approval in September to full deployment within months, allowing customers to transact immediately.

The collaboration will initially focus on Finseta’s UK customers, with plans to expand into Europe via SEPA payments.

John Salter, Chief Customer Officer at ClearBank, said:

“Finseta’s speed in integrating into ClearBank’s API and bringing accounts to market demonstrates how our technology-first approach enables our partners to act quickly to serve their customers. These accounts will help Finseta to deliver faster, more efficient payments solutions for larger-scale or complex transactions.”

Birinder Lally, Head of Alternative Banking at Finseta, said:

“By integrating directly with ClearBank’s API and leveraging their multicurrency capabilities, we can provide faster and more flexible solutions to our clients operating across borders. The partnership will help us to support customers in managing their payments and FX exposure with greater control and efficiency.”

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