Here are our top tips and potential pitfalls when sending money from China* using Wise. This service is provided in partnership with a third party payment...
Merhaba Turkey! We’re excited to bring Wise Platform to Turkey through our partnership with Birlesik Odeme and Fibabanka. Starting from April over 3,000,000 customers will have access to cheaper, faster transfers abroad at their fingertips from the convenience of Fibabanka's web & app.
The first of its kind in Turkey, our partnership with Birlesik Odeme allows Fibabanka’s customers to send money abroad in 80 currencies including USD, EUR, GBP & CAD from within the security and convenience of their banking app.
Challenging the traditional banking system, Fibabanka offers full transparency on fees and the mid market rate making it easier and simpler for customers sending money abroad.
Fibabanka has adopted a way of doing business beyond the traditional banking approach since the day they were founded. Thanks to investing in the latest financial services focussed technologies, they offer their new products/services primarily through digital channels, in line with their "mobile banking priority" strategy. Because of this approach, they have increased the number of digital customers by 2.5 times in the last year only.
On the other hand, Birlesik Odeme has put many products and solutions into service through Fibabanka's digital channels. Thanks to Birlesik Odeme's collaboration with Wise, Fibabanka can now offer its customers the opportunity to make faster transactions against more affordable fees, by going beyond the traditional approach when it comes to international money transfers.
Oguzhan Akin, Money Remittance Senior Director, Birlesik Odeme, said:
“It’s been a pleasure working with the Wise team on such a big project. The synergy between the teams has allowed us to go live with the Fibabanka’s integration in only a few months. We have taken our strategic partnership one step further with Wise, which is the best choice for anyone who wants to send international money transfers in a cheaper, faster and more transparent way. As Birlesik Odeme, the Fintech service platform provider that acts with the vision of Turkey's first and only Faas, we are happy and proud to mediate this. And, by working with Fibabanka, we enabled great innovation in the field of financial technology in Turkey.
We believe this is a huge step forward for digital banking and financial technology.”
Partnering with Wise Platform and Birlesik Odeme allowed Fibabanka to access our dedicated delivery specialists, leverage our easy to use API’s along with our global ecosystem to build the best possible experience for their customers to make international payments.
Established in 2010, Birlesik Odeme was one of the first fintech companies to obtain an e-money license from the BRSA in 2015. It is Turkey's first fintech service platform provider (FaaS) company. As a strategic solution partner in the digital financialization processes of institutions, it offers channel and product-based infrastructural solutions. While minimizing their costs, it creates new income items for them and enables them to increase their current efficiency and agility at the maximum level.
Steve Naudé, Head of Product, Wise Platform, said:
“We are thrilled to be a part of this partnership and, most importantly, to be able to bring our service to even more customers across Turkey. For too long, international money transfers have been blighted by high, often hidden fees and slow services. As partners, we can change that - because we know customers deserve better.”
Check out our website if you’re interested in integrating your product with the Wise Platform API.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.
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