Saxo Payments responds to Innovate Finance FinTech manifesto

London, 30th July 2015 – Anders la Cour, co-founder of FinTech business, Saxo Payments, is fully in support of the manifesto launched today by Innovate Finance, which is calling for the creation of 100,000 new FinTech jobs by 2020.

“There is no question that the FinTech sector represents a significant opportunity for the UK economy,” said Anders la Cour. “It’s therefore tremendously exciting to see Prime Minister, David Cameron, getting fully behind the disruptors as he holds a roundtable during his South East Asia tour.

“There seems to be a growing appetite amongst a broad range of organisations to get involved in FinTech – from the creation of the UK Government’s FinTech special envoy, to investment in the sector by a number of traditional banks. And it’s vital that everyone understands the broader benefits that can be delivered to the economy by allowing this sector to grow.

“FinTechs work because they look for a gap or a failing in the current offering and develop a solution that is carefully and expertly designed to meet that need, underpinned by a high quality service. Because they are so focused on their one specific niche, they are able to invest fully in that one offering and do it exceptionally well. And that means they usually deliver a better, more cost-effective service – which is incredibly important in underpinning entrepreneurial growth.

“That is certainly what Saxo Payments has achieved, with our Banking Circle providing a valuable cross border payments platform that is empowering global trade.”

The Saxo Payments Banking Circle mitigates the prohibitively expensive traditional banking fees – often around 5% per transaction – and cuts out the unfathomable time usually incurred for funds transfer. Counting First Data, Tuxedo Money Solutions, Allied Wallet and Valitor amongst its first members, it facilitates international transfers via domestic banking accounts in separate countries and for separate currencies. The result is that payments providers can enable their merchants to perform cross border transfers through the Banking Circle, often instantly, irrespective of the geographical location of the recipient.

Ends

For further information and interviews please contact the Saxo Payments Press Office:

Wendy Harrison/Jenny Thorneywork – HSL
0208 977 9132 – saxopayments@harrisonsadler.com

About Saxo Payments
In 2013 Saxo Bank formed a new entity, Saxo Payments A/S, with the purpose of using Saxo Bank’s core capabilities within the non-cash payments market. Saxo Payments A/S is a specialist in forex and payments.

Registered as a payment institution in the European Union, Saxo Payments specialises in providing global payment account transactions and foreign exchange services to payment providers, including acquirers, payment service providers, FX brokers, money transfer businesses, e-wallets, and alternative payment providers.

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