The bank will integrate Wise’s infrastructure through API.
It will allow SC Remit customers in Asia and the Middle East to send money in 21 currencies.
Wise (previously Transferwise), established to challenge big banks charging unnecessary fees for cross-border payments, has partnered with Standard Chartered to provide retail remittance services to the UK-headquartered bank’s customer base.
Standard Chartered Taps Wise
Announced today (Tuesday), Standard Chartered will integrate Wise’s infrastructure through the Wise Platform API over the coming quarters. The partnership will facilitate services to SC Remit customers, specifically those in Asia and the Middle East.
Bank customers will be able to send money in 21 currencies, including USD, CAD, EUR, GBP, SGD, HKD, and JPY, “in a matter of seconds.” According to its latest update, Wise facilitated 63 percent of its cross-border payments instantly in under 20 seconds.
“We chose to partner with Wise Platform due to their extensive currency coverage and the well-known cross-border payments experience they offer,” said Samir Subberwal, Global Head of Wealth Solutions, Deposits and Mortgages, and Chief Client Officer, Standard Chartered.
Disrupting Cross-Border Payments
Listed in London, Wise has established itself as one of the top retail remittance platforms globally. At the end of Q2 FY25, the number of active customers on the platform reached 8.9 million, primarily driven by recommendations from existing users. This growth in users also increased transaction volume by 20 percent, reaching £35.2 billion for the quarter.
Wise also managed to reduce fees, with its cross-border take rate decreasing to 59 basis points, down 8 basis points from the same period last year. Wise attributed 6 basis points of this reduction to lower prices and 2 basis points to changes in its business mix.
“The partnership with Standard Chartered, one of the largest global banks, marks a significant milestone in financial institutions investing to improve international payment experiences for customers,” said Wise Platform’s Managing Director, Steve Naudé.
“With Wise Platform, Standard Chartered gains access to Wise’s global payments infrastructure, including our extensive licence network, six direct connections, payment operations expertise, and proven capabilities in treasury management. All these enable us to deliver fast, secure, and transparent payments around the world.”
Wise (previously Transferwise), established to challenge big banks charging unnecessary fees for cross-border payments, has partnered with Standard Chartered to provide retail remittance services to the UK-headquartered bank’s customer base.
Standard Chartered Taps Wise
Announced today (Tuesday), Standard Chartered will integrate Wise’s infrastructure through the Wise Platform API over the coming quarters. The partnership will facilitate services to SC Remit customers, specifically those in Asia and the Middle East.
Bank customers will be able to send money in 21 currencies, including USD, CAD, EUR, GBP, SGD, HKD, and JPY, “in a matter of seconds.” According to its latest update, Wise facilitated 63 percent of its cross-border payments instantly in under 20 seconds.
“We chose to partner with Wise Platform due to their extensive currency coverage and the well-known cross-border payments experience they offer,” said Samir Subberwal, Global Head of Wealth Solutions, Deposits and Mortgages, and Chief Client Officer, Standard Chartered.
Disrupting Cross-Border Payments
Listed in London, Wise has established itself as one of the top retail remittance platforms globally. At the end of Q2 FY25, the number of active customers on the platform reached 8.9 million, primarily driven by recommendations from existing users. This growth in users also increased transaction volume by 20 percent, reaching £35.2 billion for the quarter.
Wise also managed to reduce fees, with its cross-border take rate decreasing to 59 basis points, down 8 basis points from the same period last year. Wise attributed 6 basis points of this reduction to lower prices and 2 basis points to changes in its business mix.
“The partnership with Standard Chartered, one of the largest global banks, marks a significant milestone in financial institutions investing to improve international payment experiences for customers,” said Wise Platform’s Managing Director, Steve Naudé.
“With Wise Platform, Standard Chartered gains access to Wise’s global payments infrastructure, including our extensive licence network, six direct connections, payment operations expertise, and proven capabilities in treasury management. All these enable us to deliver fast, secure, and transparent payments around the world.”
Arnab is an electronics engineer-turned-financial editor. He entered the industry covering the cryptocurrency market for Finance Magnates and later expanded his reach to forex as well. He is passionate about the changing regulatory landscape on financial markets and keenly follows the disruptions in the industry with new-age technologies.
Gemini Gains In-Principle Approval from MAS for Cross-Border and Crypto Payment
FMLS:24 | Shaping the Next Era of Financial Evolution
FMLS:24 | Shaping the Next Era of Financial Evolution
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Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
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FMLS:24 | Shaping the Next Era of Financial Evolution
FMLS:24 | Shaping the Next Era of Financial Evolution
Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
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Welcome to FMLS:24 – the premier event where influential brands and leaders in trading, payments, fintech, and digital assets come together!
Join over 2,500 industry professionals, engage with 150+ expert speakers, and discover endless opportunities with 70+ top exhibitors. FMLS:24 is where senior executives and decision-makers gather to close deals, forge new partnerships, and strengthen connections with long-term clients.
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FM's Andrea Badiola Mateos at LSEG's Cyprus event
FM's Andrea Badiola Mateos at LSEG's Cyprus event
FM's Andrea Badiola Mateos at speaking in a panel discussion at LSEG's Cyprus event
FM's Andrea Badiola Mateos at speaking in a panel discussion at LSEG's Cyprus event
The Role of PAMM, MAM & Copy Trading in Business Growth Strategies | Webinar
The Role of PAMM, MAM & Copy Trading in Business Growth Strategies | Webinar
The copy trading market is projected to double in size, growing from $2.2 billion to $4 billion by the end of this decade. In light of this, brokers and financial institutions are increasingly adopting PAMM, MAM, and Copy Trading solutions to scale operations and drive profitability. In this insightful webinar, Sergey Ryzhavin, Product Owner at B2COPY, outlines the advanced features of the B2COPY platform, showcasing how it enhances Copy Trading, PAMM, and MAM performance. Sergey also explores strategies for using these tools to attract new clients, improve customer engagement, and create additional revenue streams.
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The copy trading market is projected to double in size, growing from $2.2 billion to $4 billion by the end of this decade. In light of this, brokers and financial institutions are increasingly adopting PAMM, MAM, and Copy Trading solutions to scale operations and drive profitability. In this insightful webinar, Sergey Ryzhavin, Product Owner at B2COPY, outlines the advanced features of the B2COPY platform, showcasing how it enhances Copy Trading, PAMM, and MAM performance. Sergey also explores strategies for using these tools to attract new clients, improve customer engagement, and create additional revenue streams.
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Join us at FMLS:24 to connect with global institutional brokers. Secure your spot today! #fmls24
Join us at FMLS:24 to connect with global institutional brokers. Secure your spot today! #fmls24