CLS, a market infrastructure delivering settlement, processing and data solutions, and Finastra, one of the world’s largest fintechs, have agreed to enter into a collaboration to provide Finastra customers with access to CLSNet, CLS’s bilateral payment netting calculation service. The move addresses increased demand from the buy-side for a centralized infrastructure to manage post-trade processes. 

Chip, the savings app that has put aside more than £165 million for its users to date, has launched Chip+1, a new account paying the market’s best return of 1.25% (variable) on savings up to £5,000. The new account is eligible for the government-backed Financial Services Compensation Scheme (FSCS) up to £85,000, with all the money deposited into Chip+1 held in a segregated trust account with the UK authorised bank ClearBank.