Bank on us for faster, lower cost, global banking

Saxo Payments Banking Circle is a global scale financial utility, underpinning the service propositions of a wide spectrum of financial institutions, allowing them to focus resources on the customer relationship.

Membership of Banking Circle gives financial institutions the geographic reach and access to the markets their customers want to trade in, underpinned by a financial utility that enables global payments and settlements through a global account infrastructure, a global FX capability and a secure and compliant banking platform.

For banks, Banking Circle offers an add-on to the correspondent banking model.

For Financial Tech businesses, Banking Circle offers an alternative for managing multiple banking relationships in different regions.

By becoming a member of Banking Circle, financial institutions can offer banking services to their customers, helping them to trade globally, at low cost and efficiently. Importantly they can help their customers improve cash flow through enhanced speed of settlement whilst remaining fully compliant with financial regulation.

Saxo Payments Banking Circle is a subsidiary of the Saxo Bank Group. Banking Circle has been granted authorisation as a payment institution according to the Danish Payment Services and Electronic Money Act, and is under the supervision of the Danish Financial Supervisory Authority ( The authorisation granted enables Banking Circle to carry out its payment service activities within the European Union and in countries with which the European Union has entered into an agreement for the financial area.

Saxo Payments Banking Circle is a subsidiary of Saxo Bank A/S. Saxo Bank A/S is a fully licensed and regulated European bank specialising in online trading and investment across global financial markets.

Saxo Bank Group is headquartered in Hellerup, Denmark and is present in London, Paris, Singapore, Zurich, Dubai, Tokyo and other financial centres around the world.

Executive Leadership team

Anders la Cour

Chief Executive Officer


Co-founder and Chief Executive Officer of Saxo Payments, Anders la Cour worked as a technology and financial M&A lawyer at a tier one law firm in Copenhagen.

His experience in legal M&A, as well as in venture capital, coupled with his strong commercial acumen and entrepreneurial mind-set means Anders understands the financial tech industry. In identifying a flaw in how the FinTech sector is serviced by the banks, he has seized the opportunity to bring a solution to market that will be a serious game-changer and challenger to the status quo.

Anders is responsible for the day to day management of Saxo Payments as well as investor relations.

“Because FinTechs have been, rightly, focused on improving the customer’s user experience, the banking side of the equation hasn’t been addressed to the same degree. This means they haven’t had the ability to offer international bank transfers that match their ‘no barriers’ ambitions.  That’s where Saxo Payments comes in.”

Laust Bertelsen

Chief Executive Officer


With more than 15 years in the financial services sector, in particular focusing on FX, Laust Bertelsen brings valuable currency market knowledge to the Saxo Payments proposition.

His previous roles at Danske Bank markets, FIH Erhvervsbank and most recently, Saxo Bank, have provided Laust with essential hands-on experience in the development of new products and platforms in the banking industry. This experience will ensure that Saxo Payments can challenge market conventions, whilst complying with international payments regulation.

Laust is responsible for day to day management at Saxo Payments.

“FinTechs see compliance as a direct threat to their innovative spirit. Our challenge is to give them a solution that delivers compliance without adding cost, time or process to their business models.   Saxo Payments enables FinTechs to focus on their core business.”

Soren Kyhl



Søren Kyhl joined Saxo Bank at the start of 2016 as Chief Operating Officer and has now been appointed as Chairman of Saxo Payments.

FinTech is at the heart of Søren’s vision for Saxo Bank. He is therefore well qualified to take up the role of Chairman for Saxo Payments which is a real example of the Bank’s commitment to the burgeoning FinTech sector.

With a focus on streamlining Saxo Bank’s digital and operational value chain, Søren brings significant senior experience in both finance and technology. Prior to joining Saxo Bank, he spent 13 years at Danske Bank, undertaking a number of roles including most recently Head of Transaction Banking and COO; co-Head and Global Head of Sales of Danske Markets and Global Head of Research, Quant and Business Development.

With a PhD in economics from University of Copenhagen, he also attended INSEAD and Harvard Business School to develop his business skills.

Lars Torpe Christoffersen

Board member and investor


Lars Torpe Christoffersen holds several Board positions in companies throughout Scandinavia and the rest of Europe, and has more than 12 years’ experience in the mergers and acquisitions field.

In his former position as President at Denmark’s main telecommunications operator, TDC, Lars achieved solid year-on-year delivery of targets and budgets, continuously breaking new ground for business growth.

As an entrepreneurial investor, Lars is committed to hands-on management and building strategic partnerships and initiatives to secure efficient return on investments for emerging companies.

At Saxo Payments, Lars is a Board member and adviser to the business.

Paul Townsend

Board member and investor


Paul has over 20 years’ experience in mainstream banking with Warburgs and Bank of New York, plus 15 years in electronic payments with Earthport plc, Neteller, Envoy and Worldpay. Before co-founding Vitesse, Paul was Founder and COO of Envoy Services Ltd. He is also an angel investor.

Steen Blaafalk

Group Chief Financial & Risk Officer, Saxo Bank


Steen Blaafalk is Global Head of Finance and Risk Operations at Saxo Bank, and a member of the Board of Management for the group. He is responsible for all legal, compliance, finance, risk management, and client and business intelligence within the Bank.

Blaafalk joined Saxo Bank in April 2014, bringing extensive senior experience in the financial sector, most recently having served as Head of Group Treasury and a member of the executive committee at Danske Bank. Over his 30-year tenure at Danske Bank, Blaafalk also served as CEO of Danske Markets, Danske Bank’s investment bank, building an impressive track record of creating profitable results. In addition, he has a strong background in trading and trading platforms, as well as national and EU regulation. Blaafalk holds a Master of Science (Economics) and an MBA from SIMI.

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