Why establish a new clearing bank?
The market for clearing bank services is experiencing high growth in part owing to the Covid-19 pandemic and the shift towards electronic payments and away from cash (although additionally confluence will be connected to the cash payment networks such as LINK in the UK and Pulse in the US).
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The existing clearing banks cannot easily address this demand in growth due to their reliance on outdated technologies specifically in terms of Real Time Gross Settlement (RTGS).
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Costs remain high despite a new entrant in 2017 and the opportunity available with the latest core banking and cloud-based infrastructure will allow confluence to disrupt the market owing to new regulation and technology aimed at reducing the inherent friction in payments for both retail and business customers.
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confluence is applying for a licence from the Bank of England to allow it to access all payment networks including Faster Payments, BACS, CHAPS and SWIFT
Discover confluence.
Located in the north-west of England, confluence’s mission is to deliver a secure, trusted, easy to access, competitive, open and carbon-neutral payments and clearing system based on the latest technologies and operating to the highest regulatory, operational and ethical standards while at the same time reducing customer costs across all current (and future) payment networks.
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By designing a banking platform in the cloud, confluence will be able to offer existing banks (or new challenger banks or its own terminals directly) a Point of Sale/payment gateway for their business account holders to accept payment for goods and services with the effect of reducing interchange fees across the network.
Our Track Record
Founding Team or "The Confluencers"
as they like to be known...
Our management team is drawn from top UK and International banks, payment processors, risk management sectors, accountancy and regulatory backgrounds alongside entrepreneurial and fundraising experience. Furthermore, confluence’s CEO and founding team built an ATM business, Cardpoint plc, from start-up to £6 billion per annum of cash dispensed and used the capital markets extensively to fund the growth of the business organically and for acquisitions. ​
6500
ATM's across Eurpoe
£500m
Dispensed per month
£100m
£20m
Turnover
EBITDA
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Mark Mills
CEO, confluence clearing limited
Our Partners
We believe in better together
