Ground-breaking financial utility, Banking Circle, has achieved its first accolade of 2019 with the Best Achievement in Payments Processing Award at the Card & Payments Awards.
Anders la Cour, Co-founder and chief executive officer of Banking Circle, said: “2018 was a hugely successful year for Banking Circle award wins and nominations, and it is fantastic to have kicked-off 2019 with this latest win. Banking Circle Virtual IBAN has proved highly successful and extremely beneficial to businesses wishing to trade across borders without the traditional high costs and slow transfer times.
“Winning the Best Achievement in Payments Processing category clearly demonstrates that Banking Circle Virtual IBAN is playing a vital role in opening up the global market. By empowering businesses to trade cross border without the time and cost constraints of traditional international bank transfers, we are making a real difference to the global economy.”
Banking Circle Virtual IBAN offers businesses a multi-currency business solution for customers in their own name and in multiple jurisdictions allowing them to make and receive payments instantly. More and more Financial Technology businesses and banks are turning to the innovative service to give them a crucial competitive edge by enhancing their service proposition with access to international business bank accounts.
Unlike traditional business to business cross border payments, which can incur high bank charges and payment delays, Banking Circle members can enjoy the benefits of fast, affordable international payments. Banking Circle Virtual IBAN negates the need to have several banking relationships and enables financial institutions to give their customers their own virtual IBANs, improving payments acceptance, settlement times and reconciliation