ClearBank, the enabler of real-time clearing and embedded banking, has partnered with PayCaptain, an innovative payroll software platform, to enable real-time salary payments and a new embedded savings service.
The collaboration will serve more than 50,000 employees across PayCaptain’s network of over 300 corporate clients, marking a significant step in ClearBank’s mission to deliver embedded financial services at the point of need across industries, according to FF News.
The partnership aims to improve employees’ financial wellbeing by addressing the lack of personal savings among UK workers.
Research shows that 23% of UK adults have £200 or less in savings, while 1 in 6—around 8.4m people—have no savings at all.
PayCaptain’s new embedded savings feature, powered by ClearBank, allows employees to automatically allocate a portion of their pay into a savings account via the PayCaptain mobile app, helping them to build financial resilience and reduce reliance on credit.
The firm will become ClearBank’s first embedded banking partner in the corporate sector. Employees at PayCaptain’s client companies will gain access to FSCS-protected savings accounts, competitive interest rates, and real-time salary payments, all within a single platform.
The collaboration also reflects ClearBank’s broader strategy to extend embedded banking solutions across diverse industries and customer segments.
By leveraging ClearBank’s secure and resilient platform, PayCaptain can enhance its payroll and savings offerings while maintaining speed, reliability, and compliance. The integration exemplifies how embedded finance can empower employees to take control of their earnings and savings, supporting improved long-term financial outcomes.
ClearBank chief executive officer Emma Hagan said, “Delivering our first embedded banking partnership with a corporate customer reflects our ambition to bring our platform to new customer segments, enabling the delivery of differentiated services at scale. PayCaptain’s shared belief in the power of technology to improve financial outcomes has allowed us to develop an innovative system that can modernise salary payment options. This partnership is a strong example of how ClearBank is unlocking our clients’ potential through secure, real-time banking infrastructure, and we are excited about what this relationship will bring in the future.”
PayCaptain chief executive officer Simon Bocca said, “We’re on a mission to empower individuals to take control of their earnings by providing the tools and insights they need to manage their finances efficiently. ClearBank was the natural choice to power our embedded savings service with their combination of resilience, scale and technology innovation. This is just the first step in our partnership. We’re excited to have our customers using ClearBank’s services and look forward to collaborating on more innovative financial solutions together.”
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