ClearBank has announced a partnership with Ziglu which will allow the cloud-based service bank to offer its agency services to the UK-based money app. Following the integration. Ziglu will be able to provide virtual GBP accounts to customers.

ClearBank Will Process The Virtual Accounts

The press release noted that Ziglu’s GBP virtual accounts will be reported and processed in real-time by ClearBank. This will enable products to be modified quickly in a live environment using cloud-based and API solutions. Additionally, Ziglu customers will have access to all UK payment schemes through virtual accounts. ClearBank, the developer of the embedded banking platform, wants to ensure that customers see an improvement in operational efficiencies. This will enable Ziglu customer teams to resolve pending or missing payment queries.

Chief Executive Officer of ClearBank, Charles McManus, commented on the development.  “Ziglu represents all that is exciting about FinTech and finance today,” he stated.

He added that Ziglu will continue growing in 2022 and beyond, with a keen sense of what its investment, banking, and crypto customers will want to see next.

The Partnership Will Allow Both Parties To Expand Their Offerings

McManus noted that ClearBank is excited about the partnership with Ziglu to offer a safeguarded Virtual GBP Account. The collaboration will also enable both parties to expand their propositions and offerings.

Founder and Chief Executive Officer of Ziglu Mark Hipperson stated that Ziglu will continue to project the ClearBank platform. He added that the platform has seen remarkable improvements since it started delivering customers via ClearBank.

It has gained considerably well on user satisfaction, as ClearBank offers the platform all the security of traditional banking, as well as the means to satisfy its digital-native customer base.

In April, major US commission-free stock brokerage and investing app Robinhood, announced an acquisition deal for Ziglu. This is coming as the platform plans to expand into Europe and the UK. Initially, the company plan to go on with the expansion two years ago but it was halted. Although the terms of the recent acquisition deal were not revealed, the deal is likely going to be completed this year, pending regulatory approval.