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Banking Circle delivers faster payments for DiPocket

By Joy Dumasia

February 03, 2022

  • Banking Circle
  • DiPocket
  • Europe
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DiPocket, a Corporate Disbursements and Payment Solutions Provider, improves customer access to Faster Payments through its new partnership with tech-first Payments Bank, Banking Circle. Utilising Banking Circle Virtual IBAN for both company and client fund accounts, DiPocket will provide its customers with access to Faster Payments and SWIFT, with improved systems availability to bypass the operational issues experienced with other partner banks. It will also be using Banking Circle for SEPA EUR payments.

Authorised in the UK and Lithuania and with offices in Vilnius, London, Warsaw and Kiev, DiPocket is focused on Central and Eastern Europe and the UK. Serving large blue-chip organisations and upcoming innovators, DiPocket provides white-labelled payment solutions, including fund disbursements, card issuance for Financial Institutions and open banking solutions.

Fedele di Maggio, CEO of DiPocket, said: “The main challenge we are looking to address is providing our customers with access to Faster Payments. As well as delivering this solution, we have also found that the integration options and multi-currency accounts offered by Banking Circle are better than those available from incumbent commercial banks. We look forward to benefiting from close to 100% systems availability, removing the operational issues we have experienced in the past when our other partner banks’ interfaces have been down. Being a financial institution subject to regulatory and compliance risk, we seek to work only with highly professional partners. Banking Circle’s team of professionals stands out on this front, and we are comfortable to have found a partner as demanding as we are when it comes to compliance.”

Anders la Cour, Chief Executive Officer of Banking Circle Group, added: “DiPocket shares the Banking Circle mission of simplifying payments, utilising the best solutions from across the financial ecosystem to achieve that. Our unique suite of solutions streamlines local and cross-border payments and allows Payment Services Providers like DiPocket to meet the changing needs of their customers without having to manage a multitude of correspondent banking relationships or even secure their own Banking Licence. We look forward to working closely with DiPocket, developing a wider range of solutions as our partnership matures.”

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