Unlock new possibilities in finance with a reliable partner by your side.
We work with 100’s of global regulated financial service providers, giving them access to major payment service rails in GBP, EUR and more.
Detailed process flow
Fund flow
Data flow
Senders in UK/EU
4
€ / £
Clear Junction
1
Virtual IBANs
€ / £ Account
Daily settlement (€/£)
5
6
YOUR BANK
vIBANs
Clients of your bank (recipients)
2
1
Using the API integration, your bank issues named virtual IBANs for its clients at scale. Secure data exchange and event notification webhooks.
2
Clients (recipients) receive bank details to share with senders.
3
Your bank’s client shares virtual IBAN details with sender.
4
Sender initiates transfer via local rails in the UK or EU.
5
Funds are credited to your bank’s EUR or GBP account at Clear Junction and safeguarded as client money. Notifications informing about the inbound transfers are provided via the API and/or Online Portal. Transaction records include sender data, sender and client IBANs, amount etc. your bank can notify its clients accordingly.
6
Settlement to your bank’s nostro account, or onward payout, per instructions.
Example Fund Flow (Remittance)
1
Senders in EU/UK
Faster Payments
SEPA
EUR/GBP/USDC/USDT
→
2
Client’s CJ Account
Clear Junction
Virtual IBAN Customer 1
Virtual IBAN Customer 2
Client’s CJ account
EUR/GBP
EUR/GBP/USD
FX
USD SWIFT
3
Client’s Local Account
USD > SGD
1. Initiation
Customer (payment Recipient) requests a virtual IBAN / blockchain wallet address via Client’s app. Virtual IBANs are issued in the name of the Recipients and are EUR/GBP enabled. Blockchain wallets enabled to receive USDT/C on selected networks. Recipients to share credentials with Senders.
2. EUR/GBP Reception via virtual IBANs
EUR/GBP funds settle into Client’s Account at Clear Junction via individual vIBANs. Client receives an API notification with full transaction credentials (sender name, recipient name, amount, reference). Multicurrency solution is enabled on the Client’s CJ account. Client can perform FX conversion from EUR/GBP collected into a desired currency i.e. USD which will be reflected on their USD balance.
3. Fund withdrawal
Client can instruct a withdrawal of converted USD balance in a lump sum amount to the local account in their name on a periodic basis (with required frequency) via SWIFT. Funds received in the Client’s local account for onward distribution in the local currency.
Product capabilities
Available for crypto related flows
Currencies
GBP
EUR
USD
USDC
USDT
CAD
CHF
CZK
HUF
DKK
NOK
PLN
RON
SEK
AUD
TRY
MXN
Named Accounts
FI
FI’s Customer
vIBAN
vIBAN
Wallet
Wallet
Available Rails
CJ Internal Payments
Schemes/Networks
FPS, BACS, CHAPS, SWIFT
SEPA, SEPA Inst
SWIFT/T2, SWIFT/Wire
Ethereum, Tron, BSC
BSC, Ethereum
SWIFT
SWIFT
SWIFT
SWIFT
SWIFT
SWIFT
SWIFT
SWIFT
SWIFT
SWIFT
SWIFT
Pay-In
FI
FI’s Customer
Pay-Out
FI
FI’s Customer
Q2
Q2
Scheme T&Cs, fund flow restrictions and eligibility criteria apply