ClearBank Europe N.V. secures ECB license, announces major expansion plans
ClearBank Europe N.V., headquartered in Amsterdam, has officially obtained a Credit Institution Licence from the European Central Bank (ECB), under the oversight of De Nederlandsche Bank. This significant milestone marks the beginning of the company’s ambitious expansion into Europe, supported by a substantial investment of over €70 million.
As part of its growth strategy, the Bank plans to recruit more than 60 new employees over the next five years. CEO Charles McManus expressed excitement about the expansion, stating, “We’re thrilled to be open for business in Europe – and this marks the first milestone in our global expansion strategy. We will soon fulfil client demand for Euro clearing, as well as Sterling, with the US Dollar coming next.”
McManus emphasized the strength of the Bank’s people, technology, and business model, which have driven success in the competitive fintech environment of the UK. The company aims to leverage these strengths to evolve its offerings and help financial institutions across Europe navigate their unique challenges and opportunities.
Rintse Zijlstra, newly appointed CEO of ClearBank Europe, highlighted the impact of changing regulations on banks and payment providers across Europe. He noted that many institutions will need to overhaul their technology infrastructure to stay compliant, and ClearBank is well-positioned to assist with these transitions. “ClearBank was purpose-built to enable the banking services of tomorrow,” Zijlstra said, adding that the expansion will enable the company to support both new and existing clients in their European growth.
ClearBank aims to leverage its cloud-native platform and the security of central bank-held client funds to offer efficient, scalable services free from the legacy issues that often plague traditional banks. This move builds on the company’s rapid growth and success in the UK and is a key part of its broader strategy to meet the increasing demand for modern banking solutions across Europe.
