Issue 5 2019

6 CEO MONTHLY / ISSUE 5 2019 , Mar19279 Banking Circle has positioned itself as a financial utility dedicated to giving banking institutions faster andmore efficient ways to conduct business on a truly global scale. A couple of months ago, Banking Circle was named as ‘Most Outstanding Payment Services Experts of 2019’ in CEOMonthly’s annual Business Elite feature. We spoke with the firm’s CEO, Anders la Cour, to find out more about Banking Circle’s services and expertise. Driving the Future of the Financial Industry: How Banking Circle Has Become a Key Accelerator of Change To put it simply, Banking Circle is part accelerator, part facilitator, offering expert services that help its clients capitalise on growth opportunities that would otherwise be out of reach or rely on significant resource investment. Specifically, when it comes to cross border B2B payments, which have often been mired in complexity and regulation, acting to underpin a core service of today’s financial establishments, as Anders explains briefly. “Banking Circle is empowering financial institutions to support their customers’ international trading ambitions, without the need for multiple banking relationships, whilst reducing risk and the operational cost of transactions.” “Today, a significant membership has been built, and Banking Circle processes more than 1.5 million transactions each month.” Ultimately, Banking Circle underpins the service propositions of a wide spectrum of financial institutions, allowing them to focus their resources on the all-essential customer relationship. “Businesses of all sizes, but specifically the smaller, younger firms, can be held back from meeting their full potential by difficulties with payments and cashflow. This area of business is hugely influential but is often left out of business planning. Transfers can be too slow and expensive, and without access to additional funds many SMEs struggle and potentially fail. Similarly, traditional banks are unable to provide flexible, fast and low-cost solutions, which leaves many SMEs financially excluded.” Serving a broad spectrum of financial institutions, including Card Acquirers, PSPs, APMs, banks and FX Payment Providers, Banking Circle members can provide