- London-based paytech Volopa has partnered with embedded banking platform ClearBank to expand its product range and banking services for business clients.
- Volopa specializes in the SME sector, offering an employee expense management and prepaid corporate card platform that facilitates international payments from the UK to 180 countries worldwide.
- The partnership with ClearBank is part of Volopa’s application for a UK e-money institution (EMI) license, expected to be granted later in the year by the Financial Conduct Authority (FCA).
- Upon securing the EMI license and completing integration with ClearBank’s technology platform, Volopa’s customers will gain access to UK payment rails, enabling fund transfers to businesses, individuals, and other financial entities.
- Customers will also be able to open virtual accounts and safeguarded bank accounts through the collaboration.
- Ali Albajati, Volopa’s head of product, emphasizes that the partnership with ClearBank will enable them to deepen relationships with existing clients and attract new ones by offering an expanded range of products and services.
- This collaboration adds to Volopa’s portfolio of partnerships, following a strategic alliance earlier in the year with UK-based open banking API provider Yapily.
UK paytech Volopa partners ClearBank to expand its SME banking services
