Emmanuel Georges, Banking Circle’s Head of France, Explains How Fintech Firm Is Powering Global Payments

Emmanuel Georges, Banking Circle’s Head of France, recently explained how the payments bank is “powering the payments propositions of businesses around the world.”

Emmanuel explained that Banking Circle is a payments bank “meeting the global banking and payments needs of Payments businesses, Banks and corporates”

He added that it was launched “with the specific vision of improving payments for the global e-commerce marketplace and provides a suite of unique and award-winning banking solutions, including multi-currency bank accounts and Virtual IBANs, bank connections for local clearing and cross-border payments, all underpinned by market leading compliance and security.”

In a recent interview, Emmanuel commented on  the benefits of using Banking Circle services for businesses.

He said that as “a modern correspondent bank committed to building a local clearing network for all major currencies, Banking Circle delivers fast, low cost payments with no hidden fees for the beneficiary.”

Clients can open bank accounts “in multiple currencies, as well as access competitive FX services, gaining a local presence in the markets they want to serve without having to invest in a physical presence or bank accounts in each region.”

For streamlined integration, Banking Circle services “are accessible through a single, modern API.”

Going on to comment on the types of companies that benefit most from Banking Circle’s services, he revealed that Banking Circle solutions “power the payments propositions of Payments businesses, Banks and online Marketplaces, enabling them to gain the geographic reach and access to the markets in which their own customers want to trade.”

With a client base of almost 300 financial institutions, “including 16 banks, current clients include Alibaba.com, Checkout.com, Nuvei, Paysafe, PPRO, Stripe and Ixaris.”

As covered earlier this year, Banking Circle has joined the UK Faster Payments Service (FPS) as a Direct Participant for GBP.

This latest initiative means clients now “have access to real-time direct clearing and settlement for both EUR and GBP, with higher than industry-average upper transaction limits.”

It also adds significant value “for clients and their underlying customers.”

Being closer to clearing as a Direct Participant on FPS, Banking Circle can “enable faster settlement times; the Payment Bank also has the ability to handle significant payment volume.”

Laust Bertelsen, CEO of Banking Circle, said:

“Banking Circle was launched with the specific vision of improving payments for the global e-commerce marketplace. Becoming a direct participant of Faster Payments is an essential element in bringing that to fruition. It’s a clear demonstration of our intent – just six years since we came to market – to challenge the status quo of cross-border payments. For many of our clients this is a welcome alternative to the CHAPS and BACs payment options. It also puts Banking Circle in a new league ahead of our competitors; we believe no other bank outside of the incumbents can offer real-time payments across multiple currencies.”

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