Banking Circle Launched Payments Insight Paper: Latest research highlights the vital role of PSPs in increasing SME financial inclusion

London, 27th October 2019 – Money20/20 USA today played host to the launch of the latest Banking Circle insight paper. ‘Pay, Set, Match! Payment services for SMEs – Jump-starting a virtuous digital payment circle’, uncovers the challenges and opportunities for payment providers serving SMEs.

Banking Circle, the ground-breaking provider of business banking infrastructure, commissioned MagnaCarta Communications to produce a series of research papers investigating how financial institutions of all types can each play a role in increasing SME financial inclusion. This insight paper is the latest in the series, following the initial white paper which launched in May 2019 and a Banking Innovations insight paper published in September 2019.

Anders la Cour, Co-founder and Chief Executive Officer of Banking Circle commented: “Increasing financial inclusion is core to every Banking Circle solution we build. As such, we regularly speak to businesses of all sizes and types, working in all regions and industries, to gain invaluable insights into the current challenges and where we can tackle existing pain points. This Payments-focused insight paper includes input from a range of players in the market, each identifying key challenges and opportunities for payment providers.

“The unique insights we have gained in producing this paper are invaluable for Banking Circle but also for the wider industry and will help us work together to build an ecosystem of efficient and cost-effective solutions to meet the needs of real businesses. The current offering is not serving SMEs effectively enough, but meaningful change will only be possible when every player in the market knows and fulfils its specific role, working in collaboration and not competition with other providers.”

The full report, ‘Pay, Set, Match! Payment services for SMEs – Jump-starting a virtuous digital payment circle’, is available to download at bankingcircle.com/whitepapers and video interviews can be found here.

About Banking Circle

Banking Circle is a next-generation provider of mission-critical financial services infrastructure leading the rise of a super-correspondent banking network. Banking Circle empowers banks and financial tech businesses to support customers’ trading ambitions – domestic and global – whilst reducing risk and the operational cost of transactions. Banking Circle solutions are increasing financial inclusion by helping thousands of businesses transact across borders in a way that was previously not possible.

In 2013 Saxo Bank formed a new entity, Saxo Payments A/S, with the purpose of using Saxo Bank’s core capabilities within the non-cash payments market. In October 2015 the company launched the Banking Circle – its ground-breaking product for payments and FX to the Financial Tech industry. In October 2017, the company launched its new identity for Banking Circle, to reflect its position as a financial utility servicing Financial Tech businesses and banks. In September 2018, Banking Circle was acquired by EQT VIII and EQT Ventures, in partnership with Banking Circle’s founders.

Domiciled  in the European Union, Banking Circle specialises in providing global banking services including accounts, payments, lending and foreign exchange services to financial institutions, including FinTechs, banks, acquirers, payment service providers, FX brokers, money transfer businesses, e-wallets, and alternative payment providers.

For further information and interviews please contact the Banking Circle Press Office: 

Wendy Harrison/Lucy Wright – Harrison Sadler

T: 0208 977 9132 E: [email protected]

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