(15 January 2025 – Australia) Banking Circle has announced that it has entered into an agreement to acquire Australian Settlements Limited (ASL), accelerating its expansion into Australia.
The acquisition marks a key step in Banking Circle’s goal of building a global hub for real-time clearing and settlement for all major currencies. Banking Circle is a modern payment bank that provides clients with a suite of sophisticated payments and banking solutions through its network of direct and indirect access to global clearing infrastructures.
ASL is a trusted provider of settlement and processing services to banks and payment companies in the Australian market.
“By combining the domestic AUD clearing and settlement capabilities of ASL with the global scale and capabilities of Banking Circle, this is an incredibly compelling proposition for Australian banks, mutual banks, credit unions, fintechs, acquirers and payment businesses who need to process domestic and international payments for their customers. A dedicated payments bank with comprehensive domestic and global solutions including batch and real-time payments, cross border payments, multi-currency accounts and FX” commented Banking Circle General Manager Australia, Piers Cracknell.
“This partnership marks a transformative moment for ASL. By joining forces with Banking Circle, we will be able to significantly enhance our capabilities and provide even more value to our clients. Leveraging Banking Circle’s global infrastructure will help us expand our services and strengthen our position as a leading payment provider in Australia” stated ASL CEO, Mark Tibbles.