Banking Circle Lending and Banking Circle Virtual IBAN shortlisted
Banking Circle has been nominated for two Banking Technology Awards: Best use of IT in Lending and Best FinTech Partnership. The Banking Technology Awards, now in their 20th year, recognise excellence and innovation in the use of IT in financial services worldwide. Winners will be announced at a ceremony and gala dinner at the 5-star London Marriott Hotel Grosvenor Square on 5th December 2019.
Banking Circle Lending, which is a finalist in the Best Use of IT category, gives financial institutions the ability to offer their business customers affordable, flexible loans in less than 72 hours, compared with traditional banks which can take an average of 60 days to extend a new loan. A binding offer is made within 24 hours after an ID verification and credit review process. Money is received as soon as the next business day.
The work Banking Circle is doing with Ixaris, a financial technology innovator that is shaking up payments for the travel industry, has been named as a finalist in the Best FinTech Partnership category. Delivering game-changing payments optimisation to boost profitability, Ixaris’ payment solution, now connected with Banking Circle Virtual IBAN, streamlines payments and taps into new revenue sources in ways previously thought impossible. The combination of Banking Circle Virtual IBAN and Ixaris Payments’ technology allows businesses to send and receive payments anywhere in the world at a low cost and in real-time, eliminating the reliance on multiple banking relationships in different territories.
Anders la Cour, Chief Executive Officer at Banking Circle, said: “We are excited to see our innovations in the lending sector recognised. Where once smaller businesses were unable to achieve global ambitions due to a lack of necessary funds, Banking Circle Lending is improving financial inclusion by giving financial institutions the ability to offer SMEs fast access to loans with flexible repayment options.
“We are also delighted that Banking Circle Virtual IBAN, which has won many awards since launch in 2015, is being further recognised for the benefits it brings to financial institutions and their clients transacting around the world. To be nominated with Ixaris for a Banking Technology award demonstrates the value our partnership is delivering to the travel industry, delivering an enhanced, modernised and accessible solution.”