Banking Circle completes acquisition of Australian Settlements Limited
New entity forms an end-to-end payments platform
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- Written by Banking Exchange staff
Banking Circle S.A. (Banking Circle), a next-generation technology-led payments bank, has completed the acquisition of Australian Settlements Limited (ASL), which is licensed as an Authorised Deposit Taking Institution in Australia (ADI).
The original agreement to acquire ASL was signed in December 2024, subject to certain closing conditions, including regulatory approvals.
The new entity forms an end-to-end payments platform serving the needs of Australian and global financial institutions, cementing Banking Circle's commitment to advancing the Australian financial ecosystem through the development and delivery of faster, more efficient, and more accessible real-time payment solutions.
“We’re seeing strong demand from both Australian financial institutions looking to partner with a specialist payments bank to process their domestic and global payments, as well as Australian companies looking to scale globally for a payments bank overseas,” said Mishal Ruparel, CCO of Banking Circle. “This strategic combination means our clients will gain access to all domestic Australian payment schemes as well as the global currencies Banking Circle offers."
Tagged under Mergers Acquisitions; Feature; Payments; Feature3; M&A;