The next generation of mission-critical banking services
17 September 2018
Founded in 2013, Banking Circle is a next-generation provider of mission-critical banking services – from payments to lending. Award-winning solutions from Banking Circle are underpinning a growing swathe of fintechs which are disrupting traditional banking solutions. Banking Circle is also helping the incumbents catch up with the new generation of innovators, helping them overcome the delays in being able to innovate because of having to work with legacy systems.
Today, Banking Circle is leading the rise of a super-correspondent banking network, helping fintechs and banks provide their customers with better cross-border banking solutions, without the need to build their own infrastructure and correspondent banking partner network.
The ever-evolving global marketplace is driven by an increasing need for faster and less costly payments, compliance and transparency, resulting in one of the fastest-growing segments within the banking ecosystem. Banking Circle believes that the future of payments is cohesive – there will be no differentiation between local and cross-border payments. All payments will occur quickly, at low cost and, eventually, without any cost implications. Payments will simply be payments.
Banking Circle is working to make this future a reality as soon as possible. It is not an easy task to build solutions that create value and are sustainable in the long term – a challenge faced by traditional banks and the new generation of fintechs. But, through Banking Circle solutions, the infrastructure to support better banking services is being delivered.
For example, as a multi-currency, multi-jurisdictional banking solution, Banking Circle Virtual IBAN negates the need to have several banking relationships and enables FX and payments businesses, and marketplaces, to give their customers their own virtual IBANs, helping them overcome their payments acceptance, settlement, and reconciliation challenges.
In June 2018, Banking Circle launched its latest proposition, Banking Circle Lending, to help fintechs support their customers through the provision of business loans. Slow cashflow and difficulties in accessing additional finance can have serious, even fatal, implications for businesses of any size. Banking Circle Lending tackles these challenges with low fees, a quick application process and flexible repayment options to suit the ebb and flow of a small or medium-sized business.
Solutions to meet changing market needs
The evolution of the financial utility is giving banks and fintechs the opportunity to benefit from the investment made by specialists in back-office functionality, without having to commit significant time and resources in-house. By creating an ecosystem of connected services, financial utilities such as Banking Circle are delivering a genuine advantage for the banking sector.
To find out more about Banking Circle visit www.bankingcircle.com