The company received the award at the 2018 edition of the Merchant Payments Ecosystem Awards. The event took place from February 20 -22 in Berlin, and comes on the heels of a win in the Best Corporate Payments Initiative category at the prestigious 2017 edition of the Banking Technology Awards in December 2017.
Andres la Cour, cofounder and CEO of Banking Circle, noted that his company faced stiff competition at the awards, and because of this it is “hugely rewarding to be recognised by the judges for our unique approach, which delivers a unique solution for fintech businesses to add value to their customer proposition.”
Part of the company’s unique solution is their Banking Circle Virtual IBAN product, which is the first multicurrency, virtual IBAN for the payments sector created by an entity that is not a bank. The payment solution is also multijurisdictional and offers full transparency, faster settlement of payments and transfers, increasing the competitive advantage for fintechs and banks.
Recently, Saxo Payments Banking Circle was also nominated for two FSTech Awards: Financial Sector Innovation of the Year and Most Innovative Product of the Year. The winners for the Awards will be announced in March at a ceremony in London.