FinTech Webinar: How virtual IBANs can add value to the payment proposition

A FinTech Webinar discussing the virtual IBAN solution, why IBANs benefit the financial technology industry, and how businesses are using them. The webinar is presented by Banking Circle General Manager Mishal Ruparel and Airwallex VP of Global Banking James Butland. 'How virtual IBANs can add value to the payment proposition' is hosted by the UK Finance webinar channel. Banking Circle is an established provider of banking services to the financial technology industry - www.bankingcircle.com/ Airwallex gives businesses the power to make fast, transparent and cost-effective international transactions from anywhere - www.airwallex.com/ What is an IBAN (International Banking Account Number)? Fundamentally, the IBAN is a real account number, and provides the building blocks to help businesses address a number of different issues; including reconciliation, settlements, and payments. What features of an IBAN are covered in the webinar? 1. Reconciliation - this issue is addressed by the virtual IBAN solution, as a 100% matching rate is achieved 2. Cross-border payments - IBANs are multi-currency, multi-jurisdictional, provide risk mitigation, and can be scaled up to meet the client's needs, even if they require millions of accounts. 3. Marketplace businesses - IBANs help companies solve the problems of transaction fees, transparency and flexibility. 4. Foreign exchange - Companies can hold currency in foreign countries and send to the master IBAN when needed, at a better Foreign exchange rate (FX rate). The FinTech webinar closes with a Q&A session, where both James Butland (Airwallex) and Mishal Ruparel (Banking Circle) draw on their banking expertise to reaffirm the virtual IBAN solution and its benefits to the FinTech industry.

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