Banking Circle Virtual IBAN, the multi-award-winning bank account solution from Banking Circle, has been shortlisted for Best Corporate Payments Initiative in the 2018 Banking Technology Awards. Winners will be announced on 13th December at an award ceremony and gala dinner to be held at London Marriott Hotel Grosvenor Square.
Banking Circle has already won ten awards this year and the shortlisting in the Banking Technology Awards is particularly significant as it underlines the role the financial utility is playing in the banking sector.
Anders la Cour, co-founder and Chief Executive Officer of Banking Circle commented: “Banking Circle Virtual IBAN gives Financial Tech businesses and banks the ability to issue individual IBANs to their customers, in any currency required – and in each customer’s name – making it a serious game-changer. The first multi-currency Virtual IBAN to be offered by a non-bank, Banking Circle Virtual IBAN delivers a unique solution for financial institutions, enabling them to add value to their customer proposition, giving them a competitive edge without requiring any significant investment in resources or systems.
“To even be nominated for a Banking Technology award is a great accolade. And it is testament to the hard work of the entire team in developing a proposition that goes to the heart of market need.”
Delivering full transparency and faster settlement on payments and transfers, Banking Circle Virtual IBAN is a unique proposition, giving banks and FinTechs a crucial competitive edge by enhancing the service they can deliver to their customers. As a multi-currency, multi-jurisdictional banking solution, Banking Circle Virtual IBAN negates the need to have several banking relationships and enables financial institutions to give their customers their own virtual IBANs.
With full transaction transparency, payments acceptance and screening time are reduced. Banking Circle Virtual IBAN also reduces the likelihood of errors in processing cross border payments and improves reconciliation and settlement times.