Banking Circle Ecosystem Addresses “Rebundling” of Financial Services

Money20/20 Europe will see the “convergence of complementary financial services” applications in the Banking Circle ecosystem.

A technology-agnostic platform underpinned by an account infrastructure from which a range of financial services can be delivered, the Banking Circle ecosystem will “enable financial institutions to accelerate the digitalisation of their customer interactions without dissipating their own brand values or requiring significant infrastructure investment.”

At the center of the Banking Circle ecosystem sits licensed Payments Bank, Banking Circle S.A. “offering global cross-border payments, accounts and liquidity management through the first and only global hub for real-time clearing and settlement with direct API access.”

A rich set of complementary ecommerce solutions surround the Bank in the ecosystem “including B2B Buy Now Pay Later solutions, revenue-based financing solutions, business payments, card issuing and expense management and account-to-account payments methods.”

As part of the Banking Circle ecosystem, “each innovative, rapid-growth business, can offer their clients access to the total ‘bundle’ through one interface.”

As Anders la Cour, Chief Executive Officer of Banking Circle Group explains, “the benefits for those clients are considerable.”

“By accessing multiple solutions from a single ecosystem, payment companies, banks, global marketplaces, corporates and online merchants will not only be able to respond more rapidly to market opportunities, gaining a ‘first to market’ position, but they will see significant cost savings as well as that all-crucial ‘stickiness’.”

The current applications in the Banking Circle ecosystem include:

  • YouLend – revenue-based financing solutions
  • B4B Payments – business payments, card issuing and expense management
  • Biller – B2B Buy Now Pay Later
  • SEPAexpress – account-to-account payment methods

Anders la Cour added:

“No business that wants to stake a claim in the ecommerce marketplace can afford to allow legacy systems to undermine ambition. As a result, we expect the ecosystem strategy to really come into its own in 2022 and at Money20/20 Europe we are showcasing our current range of applications for businesses to see what is possible.”

He also mentioned:

“Through partnering with an ecosystem like Banking Circle, digital businesses will not only address the complete lifecycle of financial services an individual or business might need but they will also be able to create greater competitive advantage, elevating their value as a whole.”

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