Banking Circle, a Luxembourg-licensed bank specialising in next-generation banking services, has completed its acquisition of Australian Settlements Limited (ASL), an Authorised Deposit-Taking Institution (ADI) in Australia.
The agreement, originally signed in December 2024, was subject to regulatory approvals and other closing conditions.
The acquisition marks a development in Australia’s payments landscape, bringing together ASL’s domestic banking and settlement expertise with Banking Circle’s cross-border payments infrastructure.
The combined entity aims to serve both Australian and global financial institutions through a consolidated payments platform.
“Bringing ASL into our global platform establishes an expanded presence for Banking Circle in Australia, one of our most strategically important markets,”
said Laust Bertelsen, CEO of Banking Circle.
“ASL has been a trusted partner to local financial institutions for decades. Together, we will empower banks, fintechs, and payment providers in Australia to offer faster, cheaper, and more secure payment solutions, at home and abroad.”
The integration is expected to allow access to key domestic payment systems, including NPP, BECS, PayID, PayTo, and BPAY, while also enabling cross-border functionality via Banking Circle’s multi-currency accounts, foreign exchange services, and global clearing network.
ASL’s regulatory experience is expected to complement Banking Circle’s global compliance and risk practices.
ASL CEO Mark Tibbles said,
“Together, we bring end-to-end knowledge and expertise to support all aspects of our clients’ payment needs. ASL has a deep history of supporting Australia’s mutual banks, credit unions and emerging digital banks and we’re excited to grow further in these segments.”
Banking Circle began its operations in Australia in 2023 through BC Payments Australia, which holds an Australian Financial Services License.
The company had earlier formed an alliance with ASL to access local payment services.
Both teams are now working to integrate their services to offer a single point of access for clients in the region.
Featured image credit: Edited by Fintech News Singapore, based on image by pressfoto via Freepik
