Banking Circle is a fully licensed payments specialist, built to help financial institutions deliver a service to their business customers to be able to transact more efficiently both locally and internationally.

Banking Circle is leading the rise of a new super correspondent banking network and makes significant investment to connect to the payment rails across all key geographies and jurisdictions, supported by a cloud-based infrastructure, to provide direct access to clearing in multiple countries. Unconstrained by the legacy issues of correspondent banks, Banking Circle is providing a modern payment solution, enabling Banks, Payments businesses and FinTechs to get as close to the clearing as possible.

Based on McKinsey analysis of the size of the global B2C e-commerce space it is estimated that Banking Circle now settles 10% of the world’s B2C e-commerce flow and EUR 100bn of POS B2B e-commerce flow.

In 2020, Banking Circle launched its ‘Payments on Behalf of’ and ‘Collection on Behalf of’ solutions to address the historical issue of B2B payments arriving in the beneficiary’s account in the name of the bank or payments business handling the payment, rather than in the customer’s name. This causes numerous issues with reconciliation and compliance and has the knock-on effect of slowing cash flow. 

Banking Circle POBO and COBO deliver payments that behave much more like consumer bank transfers - fast, streamlined, transparent and fully compliant, and provide improved settlement times, reconciliation, transaction processing and liquidity management.

Built from the ground up, Banking Circle POBO and COBO are available globally through SWIFT and local clearing in 12 jurisdictions (including UK and SEPA) and in up to 25 currencies. With no need to invest in building their own solution, financial institutions can send and receive local and cross border payments on behalf of their customers, while keeping full control of the client relationship.


Communicated by Banking Circle 


Publié le 08 avril 2021