ClearBank Opens its Headquarters in Amsterdam to Base its European Operations
The company joins the vibrant fintech ecosystem in the Netherlands to fulfill client demand
The British fintech firm ClearBank has opened its new European headquarters in the Netherlands, after selecting Amsterdam as its base for operations.
ClearBank becomes one of the latest finance companies to join the vibrant Dutch fintech ecosystem. The company brings real-time clearing and embedded banking services to the ecosystem, enabling its clients to offer secure accounts, clear payments in real-time and enhance their banking propositions for their customers.
ClearBank cited the Continent’s robust financial ecosystem as a key reason for expanding into Europe, allowing the company to fulfill client demand for Euro settlement and accounts. ClearBank chose the Netherlands for its innovative regulatory regime, access to its well-educated multilingual local talent pool, attractive work-life balance, and thriving fintech ecosystem.
The Netherlands is a fintech hub with a diverse roster of top international companies. The fintech ecosystem is bolstered by the Netherlands’ excellent digital infrastructure with unmatched speed, capacity and reliability.
Building its European operations from the Netherlands
ClearBank’s establishment in the Netherlands follows ClearBank Europe N.V. securing a Credit Institution Licence from the European Central Bank, under the supervision of De Nederlandsche Bank in August this year, allowing the company to provide clearing and embedded banking services across Europe.
Since opening its European headquarters, ClearBank has also successfully onboarded its first European clients to the Eurosystem’s payment rail, T2. T2 is the real-time gross settlement (RTGS) system owned and operated by the Eurosystem, the monetary authority of the eurozone. Central banks and commercial banks can submit payment orders in Euro to T2, where they are processed and settled in central bank money, i.e. money held in an account with a central bank.
Looking forward, ClearBank plans to invest over €70 million in its European operations and hire more than 60 new employees over the next five years.
Support from the Invest in Holland network
ClearBank was assisted in its expansion to the Netherlands by the Netherlands Foreign Investment Agency (NFIA) and Amsterdam in Business, both partners in the national Invest in Holland network.
Sources: ClearBank and Amsterdam in Business
23 October 2024