Following this announcement, the development is set to accelerate the bank’s strategy to develop a global payments platform that delivers instant, low-cost, secure, and scalable cross-border solutions across the region of Europe.
This new service is expected to enable Banking Circle clients to benefit from its comprehensive support for both Real-Time Gross Settlement (RTGS) and Automated Clearing House (ACH) transactions in Swiss Francs (CHF), together with access to Liechtenstein-issued VIBAN accounts designed to provide full operational control and compliance alignment. In addition, the financial institution will continue to focus on meeting the needs, preferences, and demands of customers and users in an ever-evolving market, while prioritising the process of remaining compliant with the regulatory requirements and laws of the industry as well.
According to the official press release, the new CHF payment solution will deliver three core benefits. This includes direct access to domestic and cross-border CHF payments, as a fully integrated, real-time connection to Liechtenstein and Switzerland payment schemes via the SIC system, secure account management (providing scalable account infrastructure using Liechtenstein-issued VIBANs tailored to clients' operational, regulatory, and market-specific needs), as well as multi-currency reach via a single API. This process will offer access to multiple local schemes and local IBAN or account capabilities in EUR, GBP, DKK, SEK, and AUD via a single API integration.
Furthermore, the addition of the CHF product will enable Banking Circle to provide direct access to local payment schemes and account infrastructure for five of the twelve major currencies in the region of Europe and the UK. The launch will focus on making the bank a correspondent for global B2B, as well as removing the challenges that are holding back the market demand from European businesses for instant payment flows and improving financial inclusion across the continent.
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