London, 11th February 2019 – Ground-breaking financial utility, Banking Circle, has achieved its first accolade of 2019 with the Best Achievement in Payments Processing Award at the Card & Payments Awards.
The Card & Payments Awards recognise excellence and innovation in the UK and Irish card and payments industries, with winners of these prestigious awards selected by an independent panel of industry experts.
Anders la Cour, Co-founder and Chief Executive Officer of Banking Circle commented: “2018 was a hugely successful year for Banking Circle award wins and nominations, and it is fantastic to have kicked-off 2019 with this latest win. Banking Circle Virtual IBAN has proved highly successful and extremely beneficial to businesses wishing to trade across borders without the traditional high costs and slow transfer times.
“Winning the Best Achievement in Payments Processing category clearly demonstrates that Banking Circle Virtual IBAN is playing a vital role in opening up the global market. By empowering businesses to trade cross border without the time and cost constraints of traditional international bank transfers, we are making a real difference to the global economy.”
Banking Circle Virtual IBAN offers businesses a multi-currency business solution for customers in their own name and in multiple jurisdictions allowing them to make and receive payments instantly. More and more Financial Technology businesses and banks are turning to the innovative service to give them a crucial competitive edge by enhancing their service proposition with access to international business bank accounts.
Unlike traditional business to business cross border payments, which can incur high bank charges and payment delays, Banking Circle members can enjoy the benefits of fast, affordable international payments. Banking Circle Virtual IBAN negates the need to have several banking relationships and enables financial institutions to give their customers their own virtual IBANs, improving payments acceptance, settlement times and reconciliation
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About Banking Circle
Banking Circle is a next-generation provider of mission-critical financial services infrastructure leading the rise of a super-correspondent banking network. Banking Circle empowers banks and financial tech businesses to support customers’ trading ambitions – domestic and global – whilst reducing risk and the operational cost of transactions. Banking Circle solutions are increasing financial inclusion by helping thousands of businesses transact across borders in a way that was previously not possible.
In 2013 Saxo Bank formed a new entity, Saxo Payments A/S, with the purpose of using Saxo Bank’s core capabilities within the non-cash payments market. In October 2015 the company launched the Banking Circle – its ground-breaking product for payments and FX to the Financial Tech industry. In October 2017, the company launched its new identity for Banking Circle, to reflect its position as a financial utility servicing Financial Tech businesses and banks. In September 2018, Banking Circle was acquired by EQT VIII and EQT Ventures, in partnership with Banking Circle’s founders.
Domiciled in the European Union, Banking Circle specialises in providing global banking services including accounts, payments, lending and foreign exchange services to financial institutions, including FinTechs, banks, acquirers, payment service providers, FX brokers, money transfer businesses, e-wallets, and alternative payment providers.
For further information and interviews please contact the Banking Circle Press Office:
Wendy Harrison/Lucy Wright – Harrison Sadler
T: 0208 977 9132
E: bankingcircle@harrisonsadler.com
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