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Global financial utility named as Best Back Office Innovation, underlining ground-breaking role for banks and other PayTech businesses
London, 11th October 2018 – Banking Circle, the ground-breaking financial utility, has won Best Back Office Innovation and Best International Payments, Remittance or use of FX in the 2018 Payments Association Awards. This takes the financial utility’s award total to 10 wins so far in 2018.
In addition, Miranda McLean, Senior VP for Global Marketing was announced at the event as one of a cohort of ‘Outstanding Women in PayTech’– which champions women in the emerging payments industry and acknowledges those who have made significant achievements.
The Payments Association Awards, now in their 11th year, are the fastest growing awards in the industry and this year attracted 33% more entries from some of the leading players in the emerging payments industry. Winners were selected by an elite panel of 40 international judges and announced at a glittering event in London last night (10th October 2018).
Anders la Cour, Co-founder and Chief Executive Officer of Banking Circle said: “These latest wins are testament to the enormous amount of hard work our team has put in to developing and delivering the best cross border banking solutions for our members. It is incredibly encouraging to be recognised for the ground-breaking work we are doing, and these wins demonstrate the valuable role Banking Circle solutions are playing in the development of emerging payments.”
Banking Circle has moved from being a payments platform to leading the rise of the Financial Utility, handling non-core banking functions on behalf of banks and other Payments businesses such as PSPs and FX Payments businesses.
Through Banking Circle, banks and Financial Tech businesses gain a crucial competitive edge, with the ability to issue their customers with multi-currency IBAN accounts in their own name and in multiple jurisdictions as well as offering loans to their customers to help them to manage their cash flow.
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 June 2018, it was announced that Banking Circle would be 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