Wise Platform’s Enhanced Product Suite

Revolutionizing International Finance Through Innovative Partnerships

Wise Platform’s Correspondent Services have been adopted by financial institutions and banks in 11 countries since its introduction, resulting in a seamless integration with minimal configuration.

Nubank in Brazil, Mox, Standard Chartered’s digital bank, in Hong Kong, Moin in South Korea, Allica Bank in the UK, and Qonto in France are among the new partners. Wise Platform’s Correspondent Services, which were introduced at Sibos last year in partnership with Swift, enable partners to transmit and receive international payments instantly. Financial institutions can experience quicker, more cost-effective cross-border payments without the need for a multi-year technological overhaul by integrating Swift’s global messaging network with Wise’s infrastructure.

Wise Platform has expanded its offerings and cultivated partnerships in response to the increasing demand for international payments that are more transparent and expedited. Wise Platform has empowered partners to issue debit cards and provide multi-currency accounts over the past year, thereby simplifying the process of sending, spending, and receiving money internationally for customers. Nubank, one of the world’s largest digital banks with over 100 million consumers, partnered with Wise Platform as its first partner in Brazil to provide its premium clients with multi-currency accounts and debit cards, thereby facilitating seamless international transactions. Tiger Brokers has expanded its partnership with Wise Platform in Singapore to introduce the first-ever debit card that enables customers to earn fractional shares without any concealed fees or exchange rate markups. This is indicative of the growing confidence that financial institutions have in Wise’s expanding service offerings.

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Wise Takes the World by Storm with New Licenses in Brazil, Japan, and Australia

Over the past few months, Wise’s infrastructure has continued to expand, as new licenses have been granted in Brazil, Japan, and Australia. Wise was the first non-bank to receive approval to join Zengin, Japan’s domestic payment network, in Japan. This integration will facilitate instantaneous remittances to and from Japan. Additionally, Wise was among the first international financial services companies to obtain a Type 1 Fund Transfer Provider license, which eliminated the 1 million JPY per transfer restriction and facilitated increased transaction volumes. Wise obtained a Payments Institution license in Brazil, which allowed it to establish a direct connection to the Brazilian Instant Payment System PIX. This enabled the company to make payments that were more efficient and seamless. Wise’s capabilities were expanded to support investment services in Australia, and its range of solutions for institutional clients was further enhanced by the acquisition of an Australian Financial Services License.

Speed is becoming a critical advantage of Wise’s infrastructure as a result of its direct connection to a greater number of payment systems worldwide. Currently, 63% of payments are processed immediately. This speed is supported by Wise’s real-time compliance checks, which conduct all pertinent checks in less than one second, guaranteeing the security and efficiency of payments. Partners are experiencing tangible advantages as a consequence of these investments: Wise’s integration with Bank Mandiri in Indonesia led to a 20% increase in monthly transactions and a 24% increase in user growth on their app. This integration enabled larger transactions, such as the transfer of up to 2 billion IDR to Indonesia and the facilitation of cross-border payments via Alipay, and saved customers US$2.3 million in fees.

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Industry Comments

Albertine Lecointe, Vice President, Strategy at Qonto said; “We’re now able to better support our existing customers by offering faster, more transparent transactions as well as fair pricing and timely payments with their international business partners. Additionally, this partnership allows Qonto to welcome new customers, enabling them to utilise our daily business banking services across multiple markets and currencies.”

Steve Naudé, Managing Director of Wise Platform said; “Customers want more than just simple transfers—they want the full package: multi-currency accounts,debit cards, and a seamless experience for sending, spending, and receiving money internationally. We’re constantly improving our infrastructure to offer speed, convenience, and transparency at a scale unmatched in the industry. Our growth reflects the appetite from partners—especially banks and large financial institutions—who are looking for the ability to offer world-class cross-border payments without compromising on speed or cost.”

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