Tribe Payments partners ClearBank to provide banking access for fintechs
Payment technology firm Tribe Payments has partnered with Banking-as-a-Service (BaaS) provider ClearBank to expand the banking options for its fintech customers.
The partnership will allow Tribe’s fintech clients to offer Faster Payments, CHAPS, BACS and Direct Debit payments through its Bank Connect solution.
Bank Connect will be integrated with ClearBank’s API-first platform, allowing fintechs that have a card programme or digital wallets on Tribe’s platform to add banking services to their payment products.
“Fintechs need access to banking systems to create more powerful convenience-driven customer propositions,” says Alex Reddish, CCO at Tribe.
Founded in 2019 by Suresh Vaghjiani, who has worked with fintechs such as Starling, Curve, Monzo and Revolut, Tribe is Europe’s only card payments platform offering Visa, Mastercard and Union Pay.
ClearBank’s BaaS offers payment processing and core banking services for financial institutions.
The firm has recently signed deals with digital banking app Dozens, cryptocurrency exchange Gemini and payments processor Viva Wallet as well as UK-based credit unions Hoot and Lanarkshire Credit Union.
In September 2020 it partnered up with JP Morgan to offer multi-currency accounts through an API.