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ClearBank

ClearBank is a bank that provides clearing services for UK financial institutions.

ClearBank is a greenfield start-up co-founded by PPF Group in 2017, the first new clearing bank to be created in over 250 years, and only the fifth clearing bank operating in the UK; until its founding, only four traditional banks provided agency clearing services to other banks there.

The new bank aims to become a true challenger to the status quo and enliven competition in its area, which is stymied by a lack of dynamism that slows the development of modern and innovative financial and IT services. The new bank wants to differentiate itself primarily through its use of the latest technology in finance.

ClearBank has a full UK banking license and is regulated by the Bank of England, the Financial Conduct Authority and the Payment Services Regulator.

Highlights

ClearBank is the first new UK clearing bank with all funds held at the Bank of England
ClearBank is a “bank for banks”, designed specifically to create a new level of open competition for financial services providers, FCA-regulated businesses and FinTechs
It is the only bank ever to join all UK payment schemes at once, supporting regulators to improve access to payment systems. It is also a member of the SWIFT interbank network, and of the leading electronic schemes, including MasterCard, Visa, AmericanExpress, Discover/Diners and JCB
It is also the first UK clearing bank with a purpose-built, integrated core banking technology system, and an API developed in accordance with ISO 20022
ClearBank has a ground-breaking partnership with Microsoft, with its technology running on Microsoft’s Azure cloud service and benefiting from its industry-leading cyber security shields
ClearBank can also offer its core banking platform to any other financial institution, with the ability to make infinite customisations to match the needs of its clients

ClearBank: Management as of 7th April, 2016

Board of Directors	Nick Ogden, Executive Chairman
	Charles McManus, CEO & Executive Director
	Marc Jenkins, CFO & Executive Director
	Shonaid Jemmett-Page, Executive Senior Independent Director & Chair of Audit Committee
	Graeme Smith, Independent Non-Executive Director & Chair of Risk Committee
	Stan Spavold, Investor Director
	Mel Carvill, Investor Director
Executive Management	Nick Ogden, Executive Chairman
	Charles McManus, CEO & Executive Director
	Marc Jenkins, CFO & Executive Director
	Steve Barry, Chief Risk Officer
	Andrew Smith, Chief Technology Officer
	Philip House, Chief Governance Officer

Ownership Structure

The two major shareholders are PPF Group N.V. through PPF Financial Holdings B.V. and CFFI UK Ventures (each holding a 35% stake). The remaining 30% stake is held by ClearBank’s management.

ClearBank Ltd.
Floor 29
St Mary Axe
London EC3A 8BF
United Kingdom

Phone: +44 (0) 203 111 2370
customersupport@clear.bank,
press@clear.bank
www.clear.bank

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