McKinsey’s last year identified that financial institutions’ growth is still being inhibited by outdated legacy banking technology and

, the global payments ecosystem is now at an inflection point in 2024 where a new wave of digital-first financial solutions and firms are increasingly leveraging technology to gain an edge across banking payments services and security.

As new payment options proliferate, it’s inevitable that the relationship between the industry and non-traditional players like fintechs equates to increasing competition and closer regulatory scrutiny.

Banking Circle, is a next-generation bank, powered by the latest technology. As a fully licensed bank with central bank clearing rails, Banking Circe has launched a bespoke offering for the funds industry. They now cater for this historically underserved financial sector with tailored solutions to provide the modern banking agility they require.

In this interview with , Banking Circle’s Head of Sales for the Benelux Region explains the reasoning behind this move and highlights the key features and benefits of their calibrated new fund services.

Why did Banking Circle expand its services to the fund industry?

Banking Circle’s primary focus has traditionally been providing to banks and payment companies. It essentially offers a and comprehensive payment platform with a range of complementary services. This year, it broadened its offerings to include services tailored specifically for the fund industry.

According to Marcus, it was a logical progression;

“We saw similar gaps in the fund industry, where traditional banks are not particularly focused on meeting the unique needs of funds, so it made sense for us to extend our services to this sector. It helped that the infrastructure and functionalities we’ve developed for banks and payment companies translate seamlessly to the fund industry, offering the same robust capabilities.”

Explain the key features of your solution for the fund industry 

Marcus: Essentially, our solution for funds is centered around providing agile payment accounts that support both cross-border and local transactions, and .

Last year’s McKinsey report on global banking found that 25% of companies surveyed were dissatisfied with the FX rates offered by their banking partner and viewed them as “poor value”, while 2 in 5 respondents said their bank’s fees for cross-border transactions were too expensive.

These are core services to get right for funds, and with a proven track record in these arenas, I am confident that Banking Circle is perfectly positioned to meet these needs in full.

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How can funds apply for these services?Marcus invites anyone who knows him to get in touch directly or through the options below, for a prompt response

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