- Alba Bank, a Glasgow-based challenger bank focusing on SMEs, has partnered with ClearBank, a provider of accounts, clearing, and embedded banking solutions, to manage SME payments.
- Alba Bank recently announced its intention to migrate to Mambu’s core banking platform to enhance its services, following the acquisition of a banking license from the UK Prudential Regulation Authority (PRA) and Financial Conduct Authority (FCA) earlier in the year.
- The partnership with ClearBank aims to enable Alba Bank to provide “near real-time payments” to its customers, enhancing transaction speed and security.
- ClearBank offers a single API integration that allows Alba Bank to connect to multiple payment schemes, including Bacs, CHAPS, and Faster Payments, ensuring rapid and secure transaction clearing.
- Sandeep Kadam, CTO at Alba Bank, emphasizes that ClearBank’s services will support the bank in facilitating the growth and prosperity of its SME customers.
- John Salter, chief customer officer at ClearBank, highlights the efficiency and cost-effectiveness of their financial services solutions, contributing to competition and innovation in the sector.
