ClearBank Appoints Neil Drennan as Chief Technology Officer to Support Innovation and Expansion Initiatives

WHY THIS MATTERS: The appointment of a new Chief Technology Officer is rarely just a personnel announcement; in the highly competitive banking-as-a-service sector, it represents a critical infrastructure statement. This move highlights the intensified race among foundation providers to build and maintain resilient, scalable cloud-native infrastructure. Bringing in a seasoned executive with a background spanning cross-border payments at Visa and Currency Cloud signals ClearBank’s intent to accelerate its geographical reach across the UK and Europe. As the trend of embedded banking matures, the underlying API and payments framework must be flawless, capable of handling rapid transaction volume increases and complex regulatory environments. Drennan’s prior experience establishing a Cloud Centre of Excellence at Visa suggests an institutional focus on best-in-class operational resilience, a necessity for any provider looking to capitalize on the next wave of corporate embedded services. This hiring is a strategic investment in technical scalability to capture market share.

ClearBank, the enabler of real-time clearing and embedded banking, today announces the appointment of Neil Drennan as Chief Technology Officer. Drennan will lead the evolution and enhancement of ClearBank’s cloud-based API and payments infrastructure as it continues to expand its services across the UK and Europe.

Drennan joins the company from Visa, where he has spent three years as Chief Technology Officer for Visa Cross Border Solutions and Currency Cloud, the global cross-border payments, collections and FX provider. He brings over 15 years of experience across the media and financial services industry, including roles at 10x Future Technologies and Amazon.

He has vast experience leading technology teams and developing cloud-based financial solutions across the UK, European and US markets. During his time at Visa, Drennan created the company’s Cloud Centre of Excellence (CCoE) programme to bring cloud-native best practices into Visa and embed them across the business.

He will lead ClearBank’s technology team and sit on the Group executive team as the company looks to accelerate its expansion into new markets. Last year, ClearBank announced the launch of its channel partnerships offer and embedded banking services for corporate customers, enabling it to expand its services and attract new customers.

Mark Fairless, Chief Executive Officer of ClearBank, said: “Neil will bring invaluable experience in streamlining and scaling our leading cloud-based platform, to support our on-going growth. As we expand into new offerings and markets, our technology will continue to be a critical differentiator in the quality and resilience of our propositions for our clients. I look forward to working closely with Neil as part of our executive team to continue scaling ClearBank to new heights, and help clients deliver on their ambitions.”

Neil Drennan, Chief Technology Officer of ClearBank, said: “I have admired the way in which ClearBank has shaken up the payments and banking sector over the last decade. Its unique approach of blending innovative cloud-based technology with trusted regulatory processes has established it as a leader in UK financial services, powering many of the fintech industry’s most exciting companies. I look forward to getting on board and bringing my experience of working with international clients to drive ClearBank’s growth over the next few years.”

FF NEWS TAKE: This strategic executive hire absolutely moves the needle, transforming ClearBank’s operational potential from fast-growth to institutional scale. Poaching talent responsible for global cross-border payments technology is a clear declaration of international ambition beyond the current European focus. Going forward, the market should watch for the immediate streamlining and enhancement of their existing cloud-based API stack. The real test will be how quickly this technological investment translates into successful penetration of new corporate embedded finance markets.