Nationwide and ClearBank partner for new business account
Designed to provide seamless access to real-time payments services, such as faster payments, Nationwide and the clearing bank claim that the new account will be “game-changing” for Britain’s 5.6 million small businesses.
“Our partnership with ClearBank will ensure our new proposition benefits from a state-of-the-art payments platform that is ready for the increasing demand for electronic payments,” says Simon Hamilton, managing director of Nationwide for Business. “ClearBank is the first new clearing bank in 250 years and purpose-built to avoid the constraints of legacy systems.”
Charles McManus, CEO of ClearBank, adds: “As one of the most well-regarded financial services brands in the market, we are incredibly proud to partner with Nationwide on this initiative. We look forward to working together to enable Nationwide for Business customers to benefit from ClearBank’s state-of-the-art, cloud-based payments platform – providing this historically underserved market with a greater choice of banking services.”
Earlier this week, Nationwide announced a partnership with Mastercard as part of the new business banking service, which will launch early next year.