British bank ClearBank has secured its European banking license from the European Central Bank, overseen by De Nederlandsche Bank.
ClearBank specializes in real-time clearing and embedded banking, leveraging a scalable cloud-native platform that enables rapid adaptability, setting it apart from traditional banks.
Rintse Zijlstra, the newly appointed CEO of ClearBank Europe, remarked, “With changing regulations impacting banks and payment providers across Europe—many of which will require major overhauls of technology infrastructure—we are ideally positioned to assist our clients in delivering compliant, next-generation banking and payment services. ClearBank was purpose-built to facilitate the banking services of tomorrow, and our expansion will enable us to support both new and existing clients in their growth across Europe.”
This achievement will serve as a foundation for ClearBank’s expansion into Europe, allowing the bank to offer Euro accounts alongside Sterling. The company has established its central European headquarters in Amsterdam and plans to hire 60 new employees over the next five years.
Charles McManus, CEO at ClearBank, expressed excitement about the new venture: “We’re thrilled to be open for business in Europe. This marks a significant milestone in our global expansion strategy. We will soon meet the demand for Euro clearing, along with Sterling, with plans for US Dollar services to follow. ClearBank has thrived in one of the most competitive fintech environments in the world, showcasing the strength of our people, technology, and business model. We will leverage these strengths to evolve our offerings and assist institutions across the continent in addressing their unique challenges and opportunities.”
Founded in 2015, ClearBank has maintained profitability since 2022.