Following this announcement, Banking Circle will be enabled to collaborate with fintech industry institutions and companies in order to further improve the process of development and transformation of the Spanish financial ecosystem. The Banking Circle team is set to contribute in particular with insight into some of the barriers and challenges that are currently present in the industry, in order to provide customers with fast and cost-effective cross-border payments and to improve the overall financial inclusion of the area.
The main focus of the Spanish Association of Fintech and InsurTech is set on developing a standard of good practices and services within the progress and development of startups, as well as Fintech and InsurTech firms and businesses in Spain. In addition, the organisation aims to ensure that technology enterprises that are associated will comply with a Code of Conduct and Good Practices agreed upon by the Association, while also meeting the needs, preferences, and demands of the industry at the same time.
Payment modern correspondent bank that provides its customers and clients with a suite of banking and financial services, Banking Circle announced multiple collaborations and product launches in the last couple of months, covering several different geographies around the world.
In August 2023, the financial institutions partnered with FIFA Clearing House (FCH) in order to process and streamline the payment of training rewards that are associated with international player transfers. The FCH was enabled to access direct clearing with central banks, as well as a solid worldwide banking network. The objective of the deal was set on centralising and automating payments between clubs, while also promoting and strengthening financial transparency in the transfer system.
Earlier in the same month, the tech-led payments businesses Banking Circle Group announced the expansion in Australia with the launch of its licensed subsidiary BC Payments, in order to improve the manner in which fintech companies scale internationally. The payments infrastructure business BC Payments was developed to provide Australia-based businesses, payment companies, firms, financial institutions, and banks with global payment services to facilitate the development of both onshore and offshore products.
BC Payments aimed to assist Australian-based fintechs that were facing challenges and barriers to non-domestic developments well as barriers centring the current de-risking in the B2B payments industry by local incumbents. For more information about Banking Circle, please check out their detailed profile in our dedicated, industry-specific Company Database.
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