ClearBank vs Principal Financial Group
Side-by-side comparison of AI visibility scores, market position, and capabilities
ClearBank is the UK's first new clearing bank in 250 years; cloud-native embedded banking infrastructure powering 17M+ accounts, 262M payments in 2025; third consecutive year of profitability.
About
ClearBank is a cloud-native clearing and embedded banking platform that provides regulated banking infrastructure to fintechs, neobanks, digital asset platforms, traditional financial institutions, and corporate businesses. Founded in 2015 and headquartered in London, ClearBank became the first new clearing bank to be authorized in the United Kingdom in over 250 years — a distinction that gives it direct access to UK payment schemes including Faster Payments, CHAPS, Bacs, and CASS. This regulatory position allows ClearBank to offer real-time payment clearing, virtual accounts, business accounts, and embedded banking-as-a-service to a broad range of financial sector clients without the technical debt and legacy infrastructure that burdens incumbent banks.
Des Moines retirement and asset management (NASDAQ: PFG) at $16.13B 2024 revenue (+18%), $753B AUM; new CEO Deanna Strable (Jan 2025), Ascensus ESOP acquisition (2024), $1.7T AUA competing with Empower for mid-market 401(k).
About
Principal Financial Group, Inc. is a Des Moines, Iowa-based financial services company — publicly traded on NASDAQ (NASDAQ: PFG) as an S&P 500 Financials component — providing retirement savings, asset management, and group insurance and benefits to 61 million customers worldwide through approximately 20,000 employees with $753 billion in assets under management (AUM) as of Q2 2025, $1.7 trillion in assets under administration, and $16.13 billion in 2024 annual revenue (up 18% year-over-year) with net income of $1.57 billion. Founded in 1879 as The Bankers Life Association by Edward Temple and Simon Casady to provide affordable life insurance to Iowans, Principal demutualized and completed its IPO in 2001. Deanna Strable became President and CEO in January 2025 (succeeding Dan Houston), with Joel Pitz named CFO. Principal operates through three segments: Retirement and Income Solutions (RIS — 401(k), 403(b), defined benefit plans, nonqualified executive benefits, pension risk transfer, and individual retirement products), Principal Asset Management (equity, fixed income, real estate, and alternative investments for institutional clients), and Benefits and Protection (group dental, vision, life, and disability insurance). Key acquisitions include AFP Cuprum (Chilean pension, $1.5B, 2012), Wells Fargo's institutional retirement and trust business ($1.2B, 2019, adding 401(k)/pension/ESOP plans), and the 2024 agreement to acquire Ascensus's ESOP business (800 plans, 165,000+ participants). Principal's market capitalization stands at approximately $18.3 billion.
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