Money20/20 USA: ClearBank's Ambitious Expansion Plans

Money20/20 USA 2023 saw the leading lights of financial services come together in Las Vegas to connect and create the future of money.

FinTech Magazine caught up with John Salter, Chief Customer Officer at ClearBank, to discuss the firm's goals and ambitions for 2024. 

Expanding into Europe

ClearBank has been in the process of obtaining a banking license in the Netherlands, and Salter outlined the firm's ongoing expansion efforts.

"We're really proud of where are in the UK," he said. "One in four EMIs bank with us and the UK is flying, quite frankly; we're ahead of every budget metric we've got.

"2024 is all about Europe – taking what we do now and putting it into Europe. We'll probably launch with clients in Q1, and we've got about 65 UK clients ready to go that want to move out there.  

"We're hoping we can get the Dutch entity profitable within 18 months."

Safety, scalability and resiliency

Explaining in further detail how the ClearBank platform works, Salter highlighted three key themes: safety, scalability and resiliency. 

"We're an infrastructure place, so we power other people," he added.

"We're a full UK bank, so the platform's safe which is really important. We're very scalable – there's no point having a partner that falls over next week; we give them [clients] that certainty. 

"We're an infrastructure. We're up 100% of the time, and that means our clients are up all the time, so they can focus on what they do which is delivering great customer experience based on what they're offering to the market."

To hear more from John Salter, simply follow the video link at the top of this story. 

Want to see more from Money20/20 USA 2023? Stay tuned to our website for more content, which will be rolled out in the coming days. 

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