ClearBank, the provider of real-time clearing and embedded banking solutions, has announced a new partnership with innovative payroll platform PayCaptain. The collaboration will enable real-time salary payments for over 50,000 employees across a network of more than 300 corporate clients in the retail and hospitality sectors.
PayCaptain will become ClearBank’s first non-financial services embedded banking partner, marking an important step in the bank’s strategy to deliver seamless financial services at the point of need across a wide range of industries.
According to research, 23% of UK adults have £200 or less in savings, while one in six—equating to around 8.4 million people—have no savings at all. Without a financial cushion, many individuals are forced to rely on costly borrowing options such as overdrafts, credit cards, or short-term loans when unexpected expenses arise.
To address this issue, PayCaptain—whose payroll platform serves numerous leading hospitality and retail businesses—is introducing a new embedded savings feature for employees, powered by ClearBank. Through PayCaptain’s award-winning mobile app, employees can allocate part of their salary directly into a savings account, helping them build financial resilience and take greater control of their finances.
By leveraging ClearBank’s modern and secure embedded banking platform, employees using PayCaptain’s services will enjoy competitive interest rates and the reassurance of FSCS protection for their savings.
Emma Hagan, Chief Executive Officer at ClearBank UK, 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.”
Simon Bocca, Chief Executive Officer at PayCaptain, 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.”
The partnership represents a long-term commitment to improving the financial wellbeing of employees across the UK, combining PayCaptain’s intuitive payroll technology with ClearBank’s trusted embedded banking infrastructure to deliver a transparent, accessible, and future-ready approach to employee finance.
