Ipagoo launched in 2015, targeting customers who make international payments or travel around Europe and require a bank account to be opened quickly — a process that can take up to several months with a traditional bank. Its founder, Carlos Sanchez, a former director at Goldman Sachs Asset Management, pledged that by contrast, Ipagoo would allow customers to open accounts “in just three clicks”. A year ago, it was the first non-bank to gain direct access to CHAPS, the clearing house automated payment system, that settles about £330bn of payments every working day over the Bank of England’s real time gross settlement infrastructure.

https://www.ft.com/content/c1a6a924-b529-11e9-8cb2-799a3a8cf37b