Switzerland based banking software company, Temenos, has partnered with London based cloud-based clearing bank, ClearBank, to provide banks with access to the UK’s payments system and faster route to market for real-time payments services in the cloud.

Under this partnership, customers will be able to access end-to-end services and real-time payments services including Payment Schemes Limited (Bacs), CHAPS and Faster Payments, through ClearBank’s API-based services.

“We are delighted to form this strategic relationship with Temenos and extend the capabilities of our cloud-native banking services to reach a greater number of banks and financial institutions in the UK. Temenos’ market-leading banking software serves a truly global customer base and we are excited to expand our combined offering outside of the UK payments market as our alliance strengthens over time,” said ChiefCheif Executive Officer of ClearBank Charles McManus.

According to a press release by ClearBank, cloud-based banking technology by Temenos and ClearBank will be able to deliver business benefits by reducing time to market, cost and complexity involved with payments services.

“We are excited to form a strategic business relationship with ClearBank. The payments market is growing at an astronomical pace in response to digital banking adoption and swelling payments volumes. At this pivotal time, it is vital that banks have a fast and effortless route to market so they can quickly respond to customer appetite for real-time cloud payments,” said Regional Director of Temenos UK Des Noctor.