“Can a non-lending, API-first clearing bank become the default banking rail for digital platforms embedding financial services in the UK?”
Founded 2021 by Anthony Watson as the UK's sixth principal clearing bank, offering a cloud-native, API-first alternative to legacy clearing infrastructure. Its unique proposition is that it does not lend, leverage, or invest client funds — deposits sit at the Bank of England — and it monetises embedded banking, payments, clearing and agency banking for digital platforms, corporates, SMEs, and non-bank financial institutions. The business has gone through sustained leadership turnover (four CEOs in just over a year to late 2025) and an investor-led restructuring in January 2025, with Monique Melis stepping up as Chair.
The Bank of London discloses Bank of London (in-house) as its banking provider, according to the Embedded Finance Index 2026.
The Bank of London does not disclose a bank charter of its own; its banking services are provided through Bank of London (in-house).
The Bank of London processes payments through Bank of London (self-operated clearing). Disclosed money-movement rails: Faster Payments.
The Bank of London connects to bank accounts through Salt Edge.
The Bank of London uses Bank of London (self-operated) for FX and cross-border payouts.
The Embedded Finance Index 2026 maps 6 layers in The Bank of London's stack: Payments / PSP (Bank of London (self-operated clearing)); Money movement (Faster Payments); Banking / BaaS (Bank of London (in-house)); Open banking (Salt Edge); FX & payouts (Bank of London (self-operated)); Treasury (Bank of England).
The Bank of London was founded by Anthony Watson and is founded in 2021, headquartered in 77 Cornhill, City of London, EC3V 3QQ, United Kingdom.
Get a read on where your own stack stands against The Bank of London and the rest of its category — what they built versus bought, which providers they use, and where the gaps in your own strategy and competitive set actually are.