Financial institutions know how important compliance is. Beyond the regulatory requirements, customers will only trust those companies that keep their personal information safe and secure. Maintaining a culture of continuous privacy compliance goes a long way towards creating a product that’s known for its trustworthiness, security and efficiency.
ClearBank is an award-winning banking-as-a-service (BaaS) organisation that is putting privacy centre stage by joining the Privacy Compliance Hub.
Founded in 2017, ClearBank was the UK’s first new clearing bank entity in over 250 years and enables its partners to offer real-time payment and innovative banking services to their customers. Its aim is to make transactions faster, safer, more reliable and accessible to all.
In 2020, the company won the pioneer of the year award at the 2020 British Bank Awards, and the most disruptive financial sector technology gong at the FS Tech Awards. It also became the first clearing bank to offer multi-currency bank accounts via API technology. The team now numbers more than 250 people, who have signed partnerships with major banks like JP Morgan and market-leading fintechs such as Tide. Powered by ClearBank’s infrastructure, Tide is now the second largest business challenger bank, with more than 230,000 customers in the UK.
“We’ve been so impressed with the Privacy Compliance Hub and the flexibility it offers us, along with the ability to provide a consistent approach to GDPR across the business. It’s a unique solution for businesses keen to put better privacy at the heart of everything they do, providing both detailed and broad brush GDPR compliance training across the board, and we look forward to continuing to work with them.”Stephen Collins – Data Protection Officer, ClearBank
“ClearBank has been a standout success story on the UK’s fintech scene. Privacy and safe sharing must be at the heart of any organisation in the open banking sector and it’s great to see ClearBank’s continued commitment to these principles. We look forward to supporting them every step of the way.”Nigel Jones – Co-founder, Privacy Compliance Hub