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Saxo Payments Banking Circle nabs prestigious award

The Banking Technology Awards 2017 has named the organisation’s Banking Circle Virtual IBAN as the Best Corporate Payments Initiative. The event took place in London on 13 December, and showcased excellence and innovation in IT solutions for financial services.    Saxo Payments Banking Circle launched the solution is early 2017. It is a multi-jurisdictional, multi-currency utility that gives banks and fintechs the ability to issue their customers virtual IBANs, reducing the need for the involvement of several banking entities in order to complete transactions. The platform also provides complete transaction transparency, reduces the probability of errors in cross-border payments processing, and speeds up settlement and reconciliation times. Anders la Cour, co-founder and CEO of Saxo Payments Baking Circle, said the following about his company’s win, “We were up against some tough competition in the Corporate Payments Initiative category, and winning the award is testament to the innovation and expediency of Banking Circle Virtual IBAN.” The organisation has also recently achieved USD 50 billion in volume growth.   About Saxo Payments A/S and Saxo Payment Banking Circle Saxo Bank created Saxo Payments in 2013. The purpose of this entity is to apply the bank’s strengths to the non-cash payments sector. Its core business is providing the range financial institutions with global payment account transactions and foreign exchange services. In 2015, Saxo Payments launched the Banking Circle, which gives financial institutions the opportunity to offer their customers the ability to make direct payments via their own proprietary web interface, without losses in time and money.]]>

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