ClearBank is powering Capital on Tap’s embedded banking solution. Capital on Tap is a cards platform that focuses on SMEs.
According to a note from ClearBank, Capital on Tap will now be offering savings accounts and loans from their chosen banks.
The new savings accounts will be available to new and existing Capital on Tap customers who are said to benefit from higher interest rates on their savings as well as FSCS protection.
ClearBank shared the initial beta testing with Capital on Tap began in October 2024. Other features and services are said to be in the works.
Alex Miles, Chief Operating Officer, Capital on Tap, said they have prioritised launching a high-interest savings solution and they chose ClearBank as a partner for their track record in embedded banking and FSCS-protected savings accounts.
“Their understanding of our requirements enabled us to integrate these accounts in just over 6 months, accelerating our vision of becoming a comprehensive financial hub for SMEs.”
ClearBank Chief Customer Officer John Salter said the need for quick turnaround times and the combination of innovation and security they offered drove Capital on Tap’s decision.
