Platforms face growing complexity when it comes to distributing funds to their vendors efficiently, securely, and compliantly. At the heart of solving this challenge is ComplyPay, whose digital wallet infrastructure is purpose-built to simplify the flow of money for marketplaces, SaaS platforms, and digital ecosystems.
ComplyPay was founded with a clear mission: to take the pain out of payments and compliance for digital platforms. At its core, the platform streamlines how money moves between parties, ensuring that vendors are paid quickly and securely, and that compliance is always front and centre.
We caught up with ComplyPay’s CEO, Mads Stolberg-Mathieu to explore how the company is utilising Banking Circle’s infrastructure to revolutionise global payouts and support its vendors in the Nordics and beyond.
Solving interoperability issues across the Nordics
Despite being a relatively small market, the Nordics have a high level of interoperability due to each country having its own currency. In addition, many vendors were processing payments in Euro, adding a further layer of complexity to an already fragmented ecosystem.
Mads explains:To streamline payouts across the region, Banking Circle’s Virtual IBANs provide the underlying infrastructure to support multicurrency wallets for each of ComplyPay’s platform vendors. Funds can be distributed into these wallets immediately after settlement, allowing platforms to hold, manage, and ultimately disburse payouts in a controlled and compliant way.
“We had multicurrency wallets six weeks after we went live. So we first went live with Euros, and we then had Danish Krone, so super fast we were able to have multicurrency wallets via the set up done on top of Banking Circle.”
As platforms scale internationally, the ability to support multiple currencies becomes essential. Through its partnership with Banking Circle, ComplyPay is able to offer multicurrency wallets that enable vendors to receive and manage funds in their preferred currency with minimal friction.
This flexibility allows platforms to serve global customers without dealing with the complexity of multiple banking relationships or costly FX conversions.
Scalability, flexibility, and risk mitigation
As well as the ability to make payouts to individual vendors across different jurisdictions, Virtual IBANs provide a flexible and scalable solution when it comes to implementation.
Additionally, one of the biggest pain points for platforms is managing risk. The Virtual IBAN model minimises exposure by ensuring that funds are ring-fenced, tracked, and moved only when compliance checks are met.
“Rather than pooling all funds into a single account, each customer’s funds can be tracked separately, which reduces risk and increases transparency. By linking wallets to individual IBANs, we ensure compliance and mitigate risk by maintaining a clear audit trail of where the funds originate and how they move through the platform.”
The decision to integrate with Banking Circle was also based on the reliability, scalability, and depth of functionality of its API – all critical for platforms operating at speed and scale.
“So with the API, we had different experiences while surveying the market. At one point, we actually received an API sent over as a PDF – which says a lot about where the banking industry, unfortunately, still is in 2025. That was a completely different experience compared to Banking Circle. Their API is stable, it’s routing billions of Euros, and since we wanted to get started with Euro – where Banking Circle is also super strong – it made the choice an easy one. From the get-go, we were able to use the IBANs they provided, and that was the main motivation for choosing them.”
Banking Circle’s infrastructure allows ComplyPay to focus on product innovation, while knowing that the back-end rails are robust, compliant, and future-proof.
ComplyPay is transforming how funds flow through platforms with the support of Banking Circle’s cutting-edge infrastructure. As platform ecosystems continue to grow, it’s clear that the future of global payouts will be built not just on speed and scale, but on trust, compliance, and innovation.
Find out how Banking Circle’s next-generation banking technology can enable seamless global access for your customers and streamline payment reconciliation with our fast, cost-effective payment and account solutions.