New banking service models for SMEs and PSPs

The origins of the BFC Group date back more than a century. We are an established financial institution that provides services in more than 55,000 locations across 40 countries worldwide. We have operated in the UK since 2003. We received our UK banking licence in September 2016.

We are proud to be an industry-leading international payment and foreign exchange (FX) provider to Small to Medium-sized Enterprises (SMEs) and Payment Service Providers (PSPs).

Our bespoke online service is not constrained by legacy systems and is designed to meet your needs. We provide innovative bank products and new fee tariffs in a market that depends on supportive and reliable payment providers.

What are BFC Bank's services?

International payments volumes grow as trade activities expand worldwide. Businesses need reliable, trustworthy commercial payment solutions. Our services are designed to help SMEs and PSPs transact internationally.

We provide corporate banking services to SMEs. Cost control is crucial for SMEs. We are committed to absolute transparency in our prices and margins. You are always able to see the total transaction cost including FX spreads. As well as enjoying innovative fee tariffs, you have access to comprehensive services and support that is generally only available to larger companies.

For PSPs to make cross-border payments they must maintain a bank account at a regulated financial institution. We understand your needs and provide services to make transactions simpler and more cost-effective. We have a full UK banking licence and direct access to the Faster Payments Scheme (FPS) which enables us to offer non-bank PSPs an additional service. You may take advantage of a sponsorship arrangement with FPS by leveraging our direct membership. If you are a sponsored partner in the FPS, you settle transactions in almost 'real-time' through us as a non-settling participant. PSPs who work with us may grow their businesses and payment volumes through direct access to a payment gateway that has historically only been available to banks

Commitment to high standards

Compliance in today's financial 'ecosystem' has never been more important. Banks must have a strong organisational compliance framework to adhere to regulation. Compliance is a strict responsibility among BFC Group's global businesses; rigorous Know Your Customer (KYC) and Client Due Diligence (CDD) checks are carried out on all prospective customers before any commercial activity.

What are our goals?

We are committed to our core values and mission to ensure you receive reliable and safe services. We focus on our clients' growth through product development and service.

How we help the growing SME market

Small to Medium-sized Enterprises (SMEs) are central to the UK economy. Around 60% of the UK’s private sector employment is in SMEs, according to the Federation of Small Businesses. We help SMEs reduce foreign exchange (FX) charges through a fair and transparent transaction services tariff for international payments and FX.


New banking approach for PSPs

International transaction flows and payments by non-bank Payment Service Providers (PSPs) continue to increase in quantity as the number of banks that provide current accounts and services to the sector has reduced. Forward-thinking organisations like BFC Bank have implemented strategies to support PSPs, which helps improve financial inclusion worldwide.