Banking Circle’s POBO and COBO solutions give Banks the ability to offer full payment transparency to their customers.

The POBO and COBO solutions offer visibility on the sender’s details when processing B2B payments, and the ability to collect funds into Virtual IBAN accounts in the underlying customer’s name.

This improves the efficiency and ease of reconciliation of payments across different jurisdictions, which historically would have been received in the name of the payment provider or bank.

By using POBO and COBO, Banks can send and receive local and cross border payments on behalf of their customers, while keeping full control of the client relationship.

This not only provides clarity and ease of reconciliation when payments are received, but also allows Banks to comply with Wire Transfer Regulations (WTR).


Key features

  • Offers full transparency for Virtual IBAN payouts and payments received, both locally and cross border
  • Now available globally through SWIFT and local clearing in 12 jurisdictions (including UK and SEPA)
  • Available to Banks in EUR, GBP and DKK (with more currencies and local capabilities coming)
  • Connection via API, UI and SWIFT
  • Compliant with Wire Transfer Regulations (WTR)



  • Manage payments on behalf of your customers, enabling receipt of funds and payments out in the customer’s own name
  • Improved settlement times, reconciliation, transaction processing and liquidity management
  • Enhanced multiple currency management, with more control over foreign exchange rates and moving money globally
  • Provides clear segregation of funds and full transparency, reducing AML and KYC risk


Virtual IBAN payouts will display:

  • Payment requestor = Customer (Virtual IBAN owner)
  • Instructing institution = Banking Circle client (Banks)
  • Intermediary institution = Banking Circle (as instructed by our clients)


Set up requirements

What is requiredWhat you will receive
Customer account names and addresses, or customer account numbers if connecting via SWIFTA list of Virtual IBANs linked to each customer to store within your system
A BIC through SWIFT (connected or non-connected*)A bulk allocation of new Virtual IBANs to allocate to new customers
If a DE IBAN is used, as part of regulatory requirements, the UBO (Ultimate Beneficial Owner) must be providedConnection via API, UI and SWIFT

*A non-connected BIC if free of charge from SWIFT


Get in touch

If you are an existing client, please contact your Relationship Manager who will be pleased to assist you.

If you are not yet a Banking Circle client, please email us at or use the Contact Us form to get in touch.