Q3 2022 Mission Update: Wise Platform

It’s been full steam ahead for Wise Platform this quarter, as we continue to build a world-class payments infrastructure for banks and businesses all over the world. We have launched our newest product for partners, International Receive, which allows banks and fintechs to let their customers receive money into their accounts from all over the world. For neobanks in particular, this could be a game changer. We have launched exciting new partnerships impacting millions of customers globally, spoken out about the common misconceptions of bank-fintech partnerships and why they are the future, and mused about how banks are like broccoli. Read on to find out more.

New product features and partners

In Q3 we went live with some exciting new partners and have been working hard to improve our Wise Platform solutions to offer a better experience for our partners’ end users, as well as a best in class experience for our partners.

YAPEAL

Wise Platform and YAPEAL began our partnership last year in 2021, enabling YAPEAL’s customers to access Wise’s lightning fast and low cost international money transfers and send money to over 80 countries around the world. As of 6th September 2022, we have also launched onboarding for business customers with YAPEAL. This is the first time Wise Platform is supporting business customers in Switzerland.

Wagestream

Our latest partnership announcement is with financial wellbeing platform Wagestream. From September, over 200,000 active Wagestream users have gained access to cheaper, faster transfers abroad from the convenience of the Wagestream app.

The integration took just over three months to build and opens up a world of possibilities to employers using the Wagestream app to power their payroll. Now, they can send money abroad from over 50 currencies to more than 70 countries.

As part of our new video miniseries, How We’re Fixing (see more below!), Wise Platform’s Head of Partnerships Roisin Levine spoke to Emily Trant, Head of Inclusion at Wagestream, about the problems they are solving for customers, and how the partnership between Wagestream and Wise is supporting their mission. Watch this space for the full episode, coming soon.

Multiplier

Wise Platform and remote payroll and marketplace platform, Multiplier, began our partnership in 2021. Teaming up together to provide Multiplier customers with a fast, cheap and convenient solution to manage international payroll from within the Multiplier Platform. This has enabled customers to pay foreign contractors at the real mid-market exchange rate in 70+ Currencies.

In September, we expanded our partnership to integrate our payouts API, automating freelancer payouts around the world. Multiplier's customers are now able to pay remote employees even more easily in the currency that works best for them.

International Receive

In September, we launched our brand-new product offering at Wise Platform: International Receive. International Receive makes it easier for neobank customers in particular to efficiently and reliably receive international payments using their existing account details. Our partners can use Wise as a correspondent and leverage our connection to power their FX payments.

The feature also enables financial institutions with an existing correspondent network to switch to Wise’s service, and receive these incoming payments more quickly, cheaply and conveniently. The announcement drew the attention of the media including FF News, Finextra and Yahoo!.

International Receive, which is already live with a major French neobank, clearly demonstrates Wise Platform’s commitment to providing customers across the world with the best solutions for sending and receiving money, and the creative solutions we are coming up with to make that happen.

Media & events

How We’re Fixing

‘How We’re Fixing’ is a video miniseries packed with insights from industry leaders hosted by our own Roisin Levine, Head of UKI & European Partnerships at Wise Platform.

In September, Wise Platform launched our brand new video miniseries titled: ‘How We’re Fixing’. The series is hosted by Roisin Levine, Head of UK and European Partnerships at Wise Platform and 3x Rising Star in Women in Fintech, and sees leaders across the financial industry discuss how they’re solving pain points for their customers.

We spoke to leaders across the sector, including:

• Sarah Holt, Head of Partnerships, Monese
• Jason Wilkinson-Brown, Head of Partnerships and Open Banking, TSB
• Paul Albert, VP of Global Sales, Payhawk
• Michael Green, GM Partnerships, Xero
• Emily Trant, Head of Impact & Inclusion, Wagestream

Each episode is unique, covering everything from digital transformation and the high street bank, to supporting front line workers by offering them a flexible payday. You can find the full video series here. Happy viewing!