Banking Circle Taps Gresham's Control Solution for Cash Reconciliation

Global fintech Gresham Technologies plc (Gresham) recently 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.

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."