CEO MONTHLY / CEO 100 51 CEO MONTHLY / ISSUE 3 202 13 The Banking Circle Evolution adapting existing solutions and trying to make them work for other target customers. The future of banking Banking Circle has made a name for itself over the last four years as a ground-breaking financial utility. However, it has since evolved to form a new category of bank, and securing its Banking Licence from the Commission de Surveillance du Secteur Financier (CSSF) in Luxembourg will significantly elevate Banking Circle’s role in the digital financial economy. Now a financial infrastructure for Payments business and Banks, Banking Circle is giving financial institutions access to real-time payments regardless of borders and regardless of the size of the business or transaction. Payments businesses and Banks working with Banking Circle can seize market opportunities in the new economy without having to commit to significant investment in their own internal infrastructure. Banking Circle bank branches are already open in the UK, Germany and Denmark and marking this significant step, Banking Circle officially opened its headquarters in Luxembourg on 27th February 2020, attended by Mr Pierre Gramegna, Luxembourg Minister of Finance. Luxembourg is a rapidly growing financial centre for Europe, the perfect location for a new bank to base its headquarters, to allow it to operate seamlessly across Europe. In just five years, Banking Circle has grown from a desire to help businesses transact more easily across borders, to a fully licenced international bank, serving thousands of businesses and their customers – in real-time, at low cost and regardless of international borders. It is now delivering bank accounts on a global scale, enabling Payments businesses such as PSPs and acquirers to offer banking services to their clients without having to invest in their own costly infrastructure. The financial utility also works in partnership with Banks to help them extend the services they can offer to their business clients without facing hefty infrastructure investment and regulatory burden.
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