WorldPay Founder Nick Ogden to Launch Fintech-Focused Challenger Bank

Ogden will set up ClearBank after getting approval from regulators.

Nick Ogden, the founder of payments provider WorldPay, is gearing up to launch a new challenger bank in the UK after receiving approval by financial regulators, according to a Financial Times report today.

To unlock the Asian market, register now to the iFX EXPO in Hong Kong

Join the iFX EXPO Asia and discover your gateway to the Asian Markets

Nick Ogden
Nick Ogden

Ogden created WorldPay in 1997, which guaranteed internet transactions worldwide. He led the company through its growth to over 270 employees with 20,000 merchants in 120 countries, processing transactions in excess of $2 billion a year.

Suggested articles

InstaForex Partners Pay Tribute to Loprais Team in Prague VisitGo to article >>

WorldPay was acquired by the Royal Bank of Scotland in 2002, before being sold to private equity firms Advent International and Bain Capital in 2009 and then listed on the London Stock Exchange in 2015.

FCA Approval

Ogden is planning to launch ClearBank in the coming months and will serve as chairman, according to filings with the Financial Conduct Authority. Former Royal Bank of Scotland senior manager Charles McManus will be chief executive.

The FT said that the new bank, which will focus on fintech and “intelligent accounts”, will join a stream of other digitally-focused lenders that are planning to launch over the coming months.

Simon Kirby, the UK’s Economic Secretary to the Treasury, said that “new digital banks are vital to boosting competition in retail banking and in cementing the UK’s role as a hub for fintech”.

Got a news tip? Let Us Know