ClearBank has partnered with global payments and financial business platform Airwallex to increase Airwallex’s services in the UK.
Through the partnership, Airwallex will be able to offer virtual business accounts and Confirmation of Payee (CoP) functionality through ClearBank’s agency banking solution.
Additionally, Airwallex will also have access to UK payment schemes, including Faster Payments, BACS (Bankers Automated Clearing System), and CHAPS (Clearing House Automated Payment System), which the company said will allow it to provide faster and more secure financial services.
By issuing virtual accounts and IBANs under its own brand identity, Airwallex said it will be able to streamline global payments and financial operations for businesses.
“Our unique combination of innovation and security was essential in supporting the premium customer experience that Airwallex is looking to provide,” said John Salter, chief customer officer at ClearBank. “We look forward to deepening our relationship with Airwallex as we explore further opportunities for collaboration.”
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