Asia-Pacific players embrace partnership to win customer share in cross-border payments
Many banks are taking the first steps toward delivering exceptional customer experiences by using next-generation correspondent service providers.
Wise Platform Mission Update Q3 2023
Thanks to Wise Platform, large companies and banks can now leverage Wise’s global payments technology and embed the best way to send, receive, and manage money internationally into their existing infrastructure.
In Q3, Wise Platform made significant progress in making the world’s money work for everyone. This quarter:
•We welcomed our first partner in Saudi Arabia
•We announced our new collaboration with Swift
•We launched an innovative Correspondent Services solution allowing banks to connect to Wise Platform via Swift messages
•Four Wisers took to the stage at the annual Sibos conference to share their expertise on instant payments, bank-fintech partnerships and more.
Read on to find out more about what we’ve been up to in Q3.
Meet our new partners
Saudi Awwal Bank
We’ve partnered with Saudi Awwal Bank (SAB), a subsidiary of HSBC, which will provide Awwal customers with fast, secure and cost-effective solutions for sending and receiving money internationally.
Read more about it inFinextra, FF News, and Zawya.
An innovative new collaboration...
Swift
While we announced our collaboration with Swift, we also unveiled a brand new Correspondent Services product that will transform the way banks are able to leverage Wise’s global payments network.
Financial institutions seeking to innovate their international payment offerings are now able to route Swift payment messages directly to Wise Platform, where they complete seamlessly over Wise’s global payments network with end-to-end transparency. This enables banks to offer the speed and convenience of Wise directly to their customers, without needing to implement any major changes to their systems.
Our Correspondent Services solution marks a major milestone in Wise Platform’s mission to open up fast, low-cost and transparent international payments to the world’s largest financial institutions and their customers.
To find out more about Correspondent Services, read Managing Director Steve Naudé's blog post here, and visit the Wise Platform website.
Events
Sibos
The Wise Platform team travelled to Toronto in September to meet partners and experts from across the industry. We had four speaking engagements throughout the course of the week, including a fireside chat between Wise Co-Founder and CEO Kristo Käärmann and Swift CEO Javier Pérez-Tasso.
Wise Platform also sat on a number of panels throughout the week including:
- “Reimagining cross-border retail payments in a crowded market: Time to partner or to battle?” - Steve Naudé, Managing Director of Wise Platform
- “Removing friction in cross-border payments: A formula for customer success” - Abid Mumtaz, Global Commercial Lead for Wise Platform
- “The future depends on the present: Insights from corporate banking” - Ryan Zagone, Commercial Lead for Wise Platform
Wise Platform in the Media
- Barely half of banks’ own employees would recommend their international payment services to customers | FF News, Fintech Global, Finextra.
- Wise makes inroads as fintech says Ireland is ‘underbanked’ after Ulster/KBC departure | Irish Independent
- Bank-fintech partnerships can shape the future of cross-border payments | Finance Derivative
- Steve Naudé – Wise Platform In The Fintech Ecosystem | FF News
- "Payment and Investment Firms Are Well-Suited Towards a Mutual Goal": Wise Platform Head | Finance Magnates
- Successful Leaders Think Globally — How to Expand Your Business Abroad For Maximum Success | Entrepreneur
- Wise lista tendências e desafios no mercado das fintechs | Terra
- The challenges of remittances in a world that’s on the move | FinTech Magazine
*Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
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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