Banking Circle Partners with Gresham for Cash Reconciliation

British fintech Gresham Technologies has announced that banking services provider Banking Circle has adopted the former’s solution for cash reconciliation.

Operating as a cloud-based managed service, Gresham’s control solution enables Banking Circle to outsource non-core business functions, including end-to-end management of Gresham’s Clareti platform, and focus on higher level value-added 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, according to the press release.

This partnership is part of a broader common mission of the two companies, which are both part of the Luxembourg House of Financial Technology (LHoFT), to improve market confidence and facilitate fintech innovation.

Banking Circle officials said Gresham’s control solution already facilitates their control mechanisms while simultaneously allowing them to innovate and scale. This particular module was tailored to meet the challenges they face, and Gresham’s tech stack aligns with many of their future goals.

Banking Circle looks forward to expanding its relationship to take advantage of additional solutions and services such as securities reconciliation and other key functions that are important to its long-term business growth objectives.