- 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.
Less than 1 min.Read
UK paytech Volopa partners ClearBank to expand its SME banking services
Hot this week
Blogs
Banking as a Service: Meaning, Examples, Benefits and Future
The push for open banking has led to a...
Blogs
Best fintech blogs and websites
Fintech (financial technology) has been an interesting part of...
Blogs
Is it worth investing in life insurance over 60?
Is it worth investing in life insurance over 60?
As...
Topics
AI
Lloyds Bank taps Cleareye.ai to streamline trade finance documentation processing
Lloyds Bank has partnered with Cleareye.ai, a California-based...
Banking
Home equity fintech Unlock bags $30m Series B funding
Unlock Technologies, a US fintech founded in 2019,...
AI
Ghana’s Fido raises $30 million in debt and equity to extend AI-powered lending services across Africa
Fido, a Ghanaian fintech, secured $30 million in...
Banking
Alternative investment platform CAIS hires Kan Kotecha as CTO
Kan Kotecha has been appointed as CTO to...
Banking
Anthony Watson steps down from role as CEO of The Bank of London
Anthony Watson is stepping down as CEO to...
Banking
Axway completes €330m acquisition of Sopra Banking Software
Deal Overview: Axway acquired SBS from Sopra Steria...
Banking
EU financial services analytics maturity report
Current State of Analytics: Evaluates the existing analytics...