Banking Circle joins the P27 Nordic payment initiative

Tuesday 11 May 2021 12:31 CET | News

Global financial infrastructure provider Banking Circle has joined the P27 Nordic payment initiative, taking a lead role in creating bulk-clearing for the Danish Krone.

P27 has been acknowledged as a vital initiative to address the disparate clearing systems currently operating across the Nordic region. Banking Circle sees its membership of P27 as a crucial piece in the jigsaw to remove the cost and time currently experienced in domestic and cross border-payments to and from the region.

P27, named for the 27 million people it will serve in the Nordic region, is an initiative between several banks that all share a common goal to create a digital platform through which businesses and consumers can make real-time, domestic and cross-border payments. Like Banking Circle, P27 believes payments should be faster and cheaper and that collaboration is the way this can be achieved.

Banking Circle holds an important role in the initiative, as a driving force in the creation of clearing for the Danish Krone.

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Keywords: Banking Circle, banks, cross-border payments, real-time payments
Categories: Banking & Fintech | Payments General
Countries: Europe
This article is part of category

Banking & Fintech