ClearBank Appoints Former Uber Exec to Lead European Expansion Push

ClearBank, the UK-based clearing bank specialising in embedded finance and real-time payment infrastructure, has announced the appointment of David (Dave) Cummings (formerly of Uber) to a senior leadership role focused on driving the company’s European growth strategy. The hire comes as ClearBank deepens its efforts to expand across the continent — targeting key markets where demand for cloud-native banking services, instant payments and open banking connectivity continues to accelerate.

Cummings joins ClearBank with a track record of scaling technology operations in complex, regulated environments, having previously held leadership positions at Uber where he was instrumental in driving product and marketplace expansion across European and global regions. His new role will include responsibility for strategic partnerships, go-to-market execution and local regulatory engagement, as ClearBank seeks to build on recent traction with fintechs, challenger banks and large enterprises that leverage its API-first clearing and settlement capabilities.

The appointment signals ClearBank’s ambition to transform from a UK-centric clearing provider into a pan-European infrastructure platform, capitalising on the convergence of embedded finance, open banking and real-time settlement technologies.

Key Highlights

• Strategic hire announced: ClearBank appoints former Uber executive Dave Cummings to lead European expansion.
• Focus areas: Growth strategy, partnerships, market entry and regulatory engagement across Europe.
• Background: Cummings brings experience scaling technology operations and marketplace products at Uber.
• Target markets: ClearBank aiming at EU financial centres and fintech hubs.
• Business model: API-first clearing, real-time payments and embedded finance infrastructure.
• Long-term ambition: Becoming a pan-European banking and payments platform.

Who Is Dave Cummings and Why It Matters

Dave Cummings has built a reputation as a leader skilled in market expansion, product scaling and strategic partnerships — particularly in highly regulated sectors that combine tech innovation with compliance. During his time at Uber, he was involved in overseeing regional growth initiatives, focusing on partnerships and service delivery across diverse European markets.

By bringing Cummings on board, ClearBank gains an executive experienced in navigating complex regulatory landscapes, multi-stakeholder partnerships, and operational scaling at pace — precisely the capabilities needed as it seeks to build a cross-border footprint beyond the UK.

ClearBank’s European Strategy

ClearBank’s infrastructure — which includes clearing and settlement, real-time ISO 20022-ready payments, accounts via API, and integrated compliance — has made it a go-to partner for fintechs, challenger banks and embedded finance providers in the UK. Its arrival into broader European markets aligns with several industry themes:

1. Open Banking Momentum

Europe has embraced open banking standards and API-driven financial data flows, creating a fertile environment for platforms that can integrate clearing, settlement and data connectivity into one stack.

ClearBank’s APIs simplify banking and payments workflows for partners, reducing reliance on legacy clearing partners or local incumbents.

2. Real-Time and Instant Payments

With real-time schemes such as SEPA Instant Credit Transfer and upcoming ISO 20022 adoption deadlines, European banks and fintechs are looking for modern infrastructure providers that can support instant settlement and compliance easily. ClearBank’s technology positions it well to deliver on these needs.

3. Embedded Finance Demand

Embedded finance — integrating banking services into non-bank platforms — has become a strategic focus for digital platforms across e-commerce, mobility, marketplaces and enterprise software. ClearBank’s services enable partners to embed payments and clearing capabilities without heavy infrastructure build-outs.

Competitive and Market Context

ClearBank enters European markets amid heightened competition from global and regional players — including ClearBank rival Bankable, fintech-oriented clearing banks, cloud-native bank-as-a-service providers, and even global networks investing in local rails. However, its focus on API-first design, real-time infrastructure and regulated clearing gives it a differentiated proposition, especially for businesses that want bank-grade reliability with developer-friendly integration.

The hire of an executive with global tech scaling experience signals ClearBank’s intent not to be a niche player, but a strategic infrastructure partner for institutions undergoing digital transformation across Europe.

Executive Commentary

In announcing the appointment, ClearBank’s CEO emphasised that “Dave Cummings brings a deep understanding of how to grow technology-led services in regulated markets and build strong partner ecosystems — experience that will be invaluable as we expand our European footprint.”

Cummings himself noted his excitement about the role, saying: “ClearBank’s mission to modernise core clearing and payment infrastructure is compelling — and Europe represents a tremendous opportunity to empower a new generation of financial services through cloud-native, real-time capabilities.”