Novalnet selects Banking Circle for FX solutions

Thursday 19 November 2020 11:34 CET | News

Germany-based Novalnet has selected Banking Circle to provide foreign exchange (FX) and settlement solutions for its customers.

Through Banking Circle, payment provider Novalnet can offer like-for-like settlement in 24 currencies, avoiding double conversions that reduce the payment value through multiple conversions and FX mark ups. Using Banking Circle Real-time FX, Novalnet is also increasing its FX margins and reducing the inevitable overheads of managing multiple international banking partners.

Banking Circle is a financial infrastructure provider to payments businesses and banks. As a fully licensed bank, the company offers services such as accounts, lending, international payments, settlements, and FX to compliance. Banking Circle is owned by EQT VIII and EQT Ventures in partnership with Banking Circle’s founders. Headquartered in Luxembourg, Banking Circle has offices in London, Munich, and Copenhagen.

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Keywords: Novalnet, Banking Circle, partnership, FX, settlement solutions, fast payment, cross-border payments
Categories: Banking & Fintech | Payments General
Countries: World
This article is part of category

Banking & Fintech

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