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Double shortlisting for Banking Circle in Financial Services Forum Product & Service Innovation Awards

Financial Services Forum recognises financial utility’s ground-breaking solutions

London, 8th April 2018 – Banking Circle, the next-generation Financial Utility, has continued its award nomination success, as it’s shortlisted for two prestigious Financial Services Forum Awards.

Banking Circle Virtual IBAN is nominated in the Payments category, while Banking Circle as a company has been nominated for the Financial Inclusion award, recognising its work tackling financial exclusion through its suite of financial solutions.

The Financial Services Forum Product & Service Innovation Awards recognise the importance of innovation in financial services and the vital role this plays in both engaging and empowering customers. The awards celebrate financial services innovation that delivers tangible benefits to both consumer and provider, focusing on the overall impact nominated innovations have had on the sector. Winners will be announced at a formal dinner and ceremony on 23rd of May, at the Museum of London.

Anders la Cour, Co-founder and Chief Executive Officer of Banking Circle, commented: “2019 has got off to a hugely successful start for Banking Circle, with multiple award-wins and nominations. But it is a considerable honour to be recognised in these important categories, by an organisation as respected as the Financial Services Forum. Banking Circle is dedicated to increasing financial inclusion by providing previously excluded businesses with access to essential lending, banking accounts and cross border payments. To be recognised for this work through this nomination is testament to the hard work of our entire team.”

Multi-award-winning Banking Circle Virtual IBAN is a game-changer for the payments sector, providing access to faster, cheaper payments locally and internationally. The unique solution, the first multi-currency virtual IBAN for businesses to be offered by a non-bank, enables financial institutions to give their clients their own virtual IBANs, negating the need to have several banking relationships.

With full transaction transparency, payments acceptance is improved, and screening time reduced. Banking Circle Virtual IBAN initially started as a means for supporting cross border payments for FX and payments businesses but has since been modified to cater for prepaid card issuing, marketplaces and marketplace sellers, insurance brokers, FinTech banking providers, payroll, and invoice discounting, with many more to follow.

Where once smaller businesses were unable to achieve global ambitions due to a lack of necessary funds, Banking Circle is improving financial inclusion by giving financial institutions the ability to offer SMEs fast access to loans with flexible repayment options, as well as instant settlement, through Banking Circle Lending and Banking Circle Receivables Financing.

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