ClearBank: Conquering Global Payment Hurdles

January 23, 2024
1 min read

ClearBank, a financial services enabler, is partnering with LemFi, a fintech platform focused on transforming financial services for immigrants, to take on the challenges associated with international payments. ClearBank will provide agency banking services to LemFi, powering its e-wallet offering in the UK to give African immigrants access to alternative banking options. The partnership has been successful, with payments volume reaching 550,000 transactions in September 2023 and a growing customer base. ClearBank is dedicated to partnering with organizations that make banking services more accessible, especially to underserved populations.

LemFi was established in 2020 to assist the underbanked immigrant population and aims to make financial services accessible to everyone. The company acquired Rightcard Payment Services in 2022 and raised $33 million in a Series A funding round in 2023. ClearBank was selected as the agency banking partner due to its reputation for robust payments and advanced banking infrastructure. The partnership is looking to expand further as both companies continue to grow.

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