Banking Circle, the Payments Bank for the new economy, has expanded its presence in Spain by joining the Spanish Association of Fintech & Insurtech (AEFI). The goal of Banking Circle is to develop a local clearing network for major currencies, and it has already built the first and only real-time clearing and settlement network for 24 currencies, resulting in faster and more affordable payments.
Through Banking Circle, banks, payment service providers (PSPs), and fintech companies can access a global network of clearing and settlement, enabling them to offer merchants a complete cross-border banking solution that provides a seamless international payment experience.
Last September, Jose Maria Seisdedos Rodriguez was appointed as the head of Institutional Banking for Banking Circle’s activities in Southern Europe. This move further demonstrates the company’s commitment to supporting the Spanish financial ecosystem.
Banking Circle offers a range of unique and award-winning banking solutions, including multi-currency banking accounts and Virtual IBANs, as well as bank connections for local clearing and cross-border payments. These solutions are supported by industry-leading compliance and security measures.
With more than 300 financial institutions as clients, including 16 banks, Banking Circle currently handles over 10% of European B2C e-commerce flow.
By joining AEFI, Banking Circle aims to collaborate with other leaders in the fintech industry to drive digital transformation and innovation in the Spanish financial ecosystem. The company also plans to share insights into overcoming current barriers to fast and cost-effective cross-border payments, with a focus on improving financial inclusion.
The primary objective of AEFI is to establish a standard of best practices for the development of fintech and insurtech startups and companies in Spain. The association also ensures that associated technology companies adhere to a Code of Conduct and Good Practices agreed upon by its members.
Jose Maria Seisdedos Rodriguez expressed his enthusiasm for joining AEFI and looks forward to working with fellow fintech industry leaders to enhance the Spanish financial ecosystem.
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