Ecology Building Society and ClearBank in partnership deal

Money, investing, mutuals etc
patientperson
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Ecology Building Society and ClearBank in partnership deal

Post by patientperson » Thu May 24, 2018 1:56 pm

This is not a merger. Looking at the detail it may be new accounts may be offered by Ecology BS

https://www.ecology.co.uk/hub/ecology-b ... rtnership/


https://www.finextra.com/pressarticle/7 ... rship-deal
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pabenny
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Re: Ecology Building Society and ClearBank in partnership deal

Post by pabenny » Thu May 24, 2018 3:59 pm

AFAIK Ecology don't have any sort of online capability - you even have to download and mail forms for new account opening. Looks like a way of getting Ecology some up to date tech without having to invest money they probably don't have. Fair enough if they're both confident of it working as a long term relationship.
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Re: Ecology Building Society and ClearBank in partnership deal

Post by planteria » Fri May 25, 2018 8:05 am

i hadn't noticed this pp.
there isn't much detail at all, but it will be interesting to see what they come up with together.

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Re: Ecology Building Society and ClearBank in partnership deal

Post by Constantine » Fri May 25, 2018 3:22 pm

I've never heard of ClearBank. So I looked 'em up.

First new clearing bank in a couple of centuries. Set up in 2015 by Nick Ogden, the same chap who set up WorldPay. Look like they have no intention of doing anything so humdrum as touting for deposits or lending money, Their aim seems to be to offer agency banking services to other fintech companies complete with the kind of back office functionality that provides current accounts.

The deal with Ecology maybe their first deal.
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