Banking Circle S.A., the next-generation technology-led payments bank, is strengthening support for small and medium-sized (SMEs) enterprises in the Nordics together with wamo, a UK-based digital business account and payments provider.
wamo will leverage Banking Circle’s advanced financial infrastructure to offer faster, more reliable payment and account services to small businesses operating in the region.
Founded in 2021, wamo provides companies looking to establish and grow their operations across the UK and Europe tailored business accounts for managing payments, invoicing, expenditures and instant currency exchange.
This is another step in Banking Circle’s path to becoming a leading European hub for instant, cross-border payments, delivering greater speed, transparency and cost efficiency for European business by enhancing interoperability across domestic and international payments rails.
Banking Circle’s various direct clearing access, particularly through its Danish Krone (DKK) and Swedish Krona (SEK) rails, combined with multi-currency cross border and FX capabilities will enable wamo to streamline payments across the Nordics, supporting their broader European expansion plans and enhancing its service offering to SMEs across the continent.
Additionally, wamo will leverage Banking Circle’s virtual account solution to assign individual accounts to its SME customers, facilitating payments on their behalf with greater control and transparency.
“Small and medium-sized enterprises are the backbone of the European economy, but they continue to face barriers when it comes to fast, affordable cross-border payments,” said Morten Wischmann, Co-Head of Payments & Business Development at Banking Circle.
“We’re proud to support wamo in their ongoing mission to democratise banking with cutting-edge technology. By providing the underlying infrastructure – from fast virtual account opening to instant payments and foreign exchange – our API-driven solutions help ensure a secure experience for the end customer. This reflects our shared commitment to removing these obstacles and delivering scalable financial solutions that are accessible to everyone.”
Yanki Onen, CEO and Founder of wamo added “We’re excited to work with Banking Circle to better serve the needs of ambitious SMEs expanding across Europe. This collaboration enhances our ability to offer secure, seamless payment experiences, while giving our customers the tools they need to operate in new markets with confidence.”
Together, wamo and Banking Circle are enabling entrepreneurs and SMEs to tap into modern infrastructure and services needed to compete, thrive, and grow in an increasingly digital, global economy.
For media queries, please contact:
Banking Circle
Gaya Ananda
gaya@bankingcircle.com
About Banking Circle S.A.
Banking Circle S.A. is a public limited liability company (Société Anonyme) and a credit institution (e.g., a bank) headquartered in Luxembourg and regulated by the Commission de Surveillance du Secteur Financier (CSSF) as its home regulator. Banking Circle S.A. has branches in Denmark, Norway, Sweden, Germany, and the UK, and subsidiaries in Liechtenstein, Singapore, and Australia.
As a fully licensed bank, Banking Circle S.A. combines pioneering technology and the established central bank clearing system to provide ultra high-speed access to global, multi-currency instant payment schemes. Banking Circle S.A. enables payments companies and banks of any scale to seize opportunities in the new economy—quickly, at low cost. Through bespoke, flexible, scalable, and future-proof solutions, Banking Circle S.A. is enabling financial institutions to help their customers transact across borders in innovative ways.