Copenhagen-based online broker Saxo Bank today announced a record profit of DKK 955.8 million (roughly $145 million) for 2018, which is a 138% increase to the 2017 profit figures. The Group reported an increase in client deposits to a record high of DKK 112.6 billion ($17m) while its operating income came in at DKK 2.8…
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Financial utility Saxo Payments Banking Circle has just announced that it has launched Banking Circle Receivables Factoring giving Payment Services Providers (PSPs) and FinTechs another add value for their client offering. Through this new lending solution, PSPs can now offer their merchant customers the facility of instant settlement of receivables due, without waiting for settlement…
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Payment systems provider Paysafe Group Limited just announced that it has joined Saxo Payments Banking Circle for fast, cost-effective local and cross border settlement. Through membership of Banking Circle, Paysafe has the added ability to offer its clients settlement accounts from Saxo Payments for their card scheme flow. Paysafe provides end-to-end payment solutions for both…
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Changes brought about under the latest Payment Services Directive, PSD2, mean that Marketplaces will no longer be exempt. For Marketplaces to remain exempt under PSD2, they should act only on behalf of the payer or the payee or not at any time enter into possession or control of client funds. Saxo Payments announced that it…
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Financial Stability Board reinforces latest Saxo Payments White Paper Research The findings from the latest Financial Stability Board (FSB) underlines the ongoing challenges faced by businesses, when trading internationally, reinforcing the findings produced in Saxo Payments White Paper Cross Border Payments for Cross Border Merchants – An Internationally ‘Local’ Future – published last week. Anders…
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Banking Circle Virtual IBAN eliminates the need for multiple bank accounts in multiple countries and currencies Saxo Payments, a subsidiary that Saxo Bank established in 2013, just announced that is launching Banking Circle Virtual IBAN. Delivering full transparency and faster settlement on payments and transfers, Banking Circle Virtual IBAN is a proposition, giving FX and Payments…
Read moreThe international financial services provider Tramonex has partnered with global transactions services provider, Saxo Payments, for segregated client accounts in 25 currencies, and FX liquidity. As part of Tramonex’s vision to shift away from classical banking and offer a new way of managing international cash flows, the company has joined the Saxo Payments Banking Circle,…
Read morePayments services provider SafeCharge International Group Ltd (LON:SCH) SafeCharge has announced that it has sold its minority stake in German based financial services technologies company FinTech Group AG (FRA:FLA). The sale of the stake, which was originally acquired by SafeCharge in June 2015 for a cost approximately €10 million and represented 5% of FinTech's equity, will result in…
Read moreSaxo Payments, a global transactions services provider which is a part of Saxo Bank, has entered into a new partnership with currency broker and international payments solution provider FC Exchange. Under the terms of the new agreement, the Saxo Payments Banking Circle will help FC Exchange deliver sophisticated solutions to its clients. FC Exchange provides…
Read moreSaxo Payments, a subsidiary that Saxo Bank established in 2013, today made available a white paper, entitled “Cross Border B2B Payments – Today’s landscape; Tomorrow’s opportunity”. The document states that 63% of payments-related businesses are dissatisfied with the speed of cross border payments, and only 38% believe they get a competitive FX rate. The paper is…
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