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Alba Bank will be leveraging ClearBank and Mambu ’ s partnership to offer near real-time payments to its customer base and will be accessing these services via a single API integration . Alba will be able to connect with multiple payment schemes , including Bacs , CHAPS and Faster Payments , all allowing transactions to clear rapidly and over a secure platform .

Founded by Scottish entrepreneur , Jim McColl , in 2018 , with its headquarters in Glasgow , Alba Bank was established to provide commercial finance to UK SMEs which remain underserved by the mainstream banks . Bucking the trend of remote contact centres favoured by the

Sandeep Kadam , CTO , Alba Bank big banks , Alba is developing a network of regional commercial finance experts with the experience to work alongside SMEs as they grow .

Alba was , earlier this year , granted its banking licence by the UK Prudential Regulatory Authority ( PRA ) and the FCA , allowing it to move into mobilisation , during which time it is currently focusing on building out its team , operations and infrastructure .

Sandeep Kadam , Chief Technology Officer at Alba Bank , said : “ Building our bank with industry-leading partners is the best way for Alba to scale quickly , in the knowledge that we ’ re being supported by the very best in the business . ClearBank has established a superb reputation among financial institutions and will provide us with the speed , agility and security that we need to help our

SME customers grow and prosper .” John Salter , Chief Customer Officer at Clearbank , added : “ Just like Alba , ClearBank designed and built its entire IT system from scratch , bolstering competition and innovation in financial services , allowing for more efficient and cost-effective transactions for our customers . We ’ re delighted to be working with Alba as they prepare to launch and scale in the market .”

The bank has also announced a partnership with Mambu , the SaaS cloudnative lending engine which will enable Alba to build a variety of loan offerings tailored to customer needs .

Since its launch in 2017 , ClearBank has more than 700 employees based across the UK , with over 200 financial institutions using its platform . ClearBank works with 16 of the UK ’ s newest banks . �