Anders la Cour, co-founder and Chief Executive Officer
UK, Denmark, Germany, Netherlands
Payments, Banking-as-a-Service, FX
Banking Circle is a ‘Payments bank’ built to service the needs of Financial Institutions which secured a full banking licence from the CSSF Luxembourg in 2019. Headquartered in Luxembourg and with offices in the UK, Germany and Denmark, Banking Circle is leading the rise of a new super correspondent banking network.
Banking Circle was launched to help Banks, Payments businesses and FinTechs deliver a service to their business customers to be able to transact globally more efficiently. Significant investment is being made to connect to the payment rails across all key geographies and jurisdictions – supported by a cloud-based infrastructure – to provide direct access to clearing in multiple countries. As such, unconstrained by the legacy issues of correspondent banks, Banking Circle is providing a modern payment solution, enabling financial institutions to get as close to the clearing as possible because that means the transaction will be faster and more cost-effective.
Based on McKinsey analysis of the size of the global B2C e-commerce space it is estimated that Banking Circle now settles 6% of the world’s B2C e-commerce flow and 100 billion euros of point of sale B2B e-commerce flow.
Through Banking Circle, Financial Institutions can access a range of banking services - multi-currency banking accounts, local clearing and cross border payments, all underpinned by market leading compliance and security - without the need to build their own infrastructure.