back Back

Banking Circle partners with Gresham to streamline cash control and scale rapid growth

By Joy Dumasia

May 12, 2022

  • B2B Payments
  • Banking Circle
  • Cash
Share

Global FinTech Gresham Technologies plc announced that next-generation digital B2B payments and banking services provider, Banking Circle, has adopted Gresham’s Control solution for cash reconciliation. A global market leader in mission-critical cloud-based software and managed service solutions for financial services, Gresham enables the growing bank to scale more quickly, easily and affordably by facilitating the reconciliation of millions of customer transactions per week. 

Although ESMA’S 2021 EMIR and SFTR data quality report acknowledged improvements, it also stated specifically that “data reconciliation will require more efforts by reporting entities,” with persistent and prevalent reconciliation, data quality, and reporting problems still present throughout the financial services industry amid increased market volatility and volume shifts. 

By operating as a cloud-based managed service, Gresham’s Control solution allows Banking Circle to outsource non-core business functions, including end-to-end management of Gresham’s Clareti platform, and focus on higher-level, value-add tasks. The elimination of costly manual processes, human error and infrastructure management has led to a more streamlined experience for customers and more scalable and resilient operations for the bank. This partnership is part of a wider shared mission of the two industry leaders, both of whom are part of the Luxembourg House of Financial Technology (LHoFT), to improve market confidence and facilitate FinTech innovation. 

Morten Juhl Lilleøre, Head of Operations at Banking Circle, said: “Gresham’s Control solution is already improving our control mechanisms while simultaneously allowing us to innovate and scale. This particular module was exactly suited to meet the challenges we’re facing today, and Gresham’s best-in-class technology stack is aligned with several of our future objectives. We’re looking forward to expanding our relationship to leverage additional solutions and services such as securities reconciliation and other key functions which are essential to our long-term competitive advantage and business growth targets.” 

Vincent Him, Sales Director for Europe at Gresham, added: “In today’s regulatory landscape, firms are not only expected to control their cash but also provide comprehensive proof of that process. Most firms need compliance and data reconciliation automation and expertise to help reduce risk and future-proof their businesses. These requirements can be a barrier for entry, particularly for new entrants. We’re thrilled to deliver committed, tailored cash control support as Banking Circle focuses on expanding its business.” 

Alex Panican, Head of Partnerships & Ecosystem at The Luxembourg House of Financial Technology (LHoFT), commented: “We’re excited to see two FinTech champions coming together to push the folds of what efficient cross-border payments can look like. With Luxembourg’s growing status as a FinTech hub, there’s no better time or place to be investing in innovation.”

Previous Article

May 12, 2022

Wolters Kluwer launches OmniVault for Real Estate Finance technology solution

Read More
Next Article

May 12, 2022

TreasurySpring partners with the London Stock Exchange to offer short-term sustainable funding

Read More







Advertise with us



IBSi Daily News Analysis

Monday

May 17, 2022

B2B Payments

The Monday Roundup: what we are watching this week | May 16th

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

TokenEx diversifies customer base with acquisition of Cloud Vaulting service

Read More

Today

Mollie offers flexible online payments to help BigCommerce merchants ignite growth

Read More

Today

Mindtree and Finastra partner to deliver payments solutions in the Nordics, the UK and Ireland

Read More

Related Reports

Sales League Table Report 2021

£ 1,500.00 / year

Know More
Emerging Technologies in Capital Markets

£ 500.00

Know More
Global Digital Banking Vendor and Landscape Report Q1 2022

£ 1,500.00 / year

Know More
Wealth Management & Private Banking Systems Report Q1 2022

£ 1,500.00 / year

Know More
Treasury and Capital Markets Systems Report 2021

£ 1,500.00 / year

Know More