In recent years, consumer and business expectations have dramatically evolved. The demand for fast, secure and low-cost cross-border payments with complete price transparency and real-time traceability are now the norm. And meeting this evolving landscape is now a requirement for banks in order to remain competitive and retain their customers.
However, to be able to do this, banks need to address the challenges of improving their legacy infrastructure, which is not easy. It's this legacy infrastructure that can make it difficult for banks to adapt, resulting in slow, costly international payments with little or no transparency - outcomes that do not meet customer expectations.
Navigating new expectations and demands
For banks wishing to innovate, these challenges also present significant opportunities. By embracing frictionless payment experiences, they can enhance customer satisfaction and regain market share while also improving their infrastructure. This can be effortlessly done through working with agile providers, who can help banks deliver faster, better and more transparent payments experiences for their customers, all without a major technical overhaul.
Building and partnering for success
Since Wise Platform started, our goal has always been the same: to help banks and enterprises bring fast, low-cost and transparent cross-border payments to their customers - quickly and securely. We now work with some of the world’s largest banks and continuously build solutions that support this mission.
For example, we launched our Correspondent Services solution in collaboration with Swift to enable partners to access Wise’s network for instant cross-border settlement without a multi-year tech overhaul. This way, banks, financial institutions and their customers benefit from faster, reliable and more affordable cross-border payments.
Our new partnership with AbbeyCross
And now, we’re also working with AbbeyCross, the platform focused on improving connectivity and access in the FX markets to help international banks and money service businesses (MSBs) leverage our infrastructure for more transparent cross-border money movement.
We share a common vision to modernise the global financial payment system, with AbbeyCross CEO and Co-Founder Mike Robertson commenting; “this partnership enables us to offer greater price transparency and broad settlement experiences for the global banks and MSBs that use the ABX Platform to bring better service levels to their customers.”
Through this collaboration, we’re modernising the financial payments system and helping customers by reducing costs, improving speed and delivering the transparency they expect.
And we’re not stopping here.
Get in touch to learn more.
*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.
Operating as a universal bank in 11 Central and Eastern European markets, Raiffeisen Bank will roll out our industry-leading solution across its network.
The recent increase in tariffs, ignited by rapidly evolving international trade policies in the US, has vastly changed the way the global economy functions.
Transparency has evolved from a nice-to-have to a business imperative in financial services.
Expanding globally can be a challenge for small businesses, but managing international payments shouldn’t be one of them.
This new solution allows customers to make international payments or send money with the same ease and simplicity as with Pix, any time, every day of the week.
Spendesk now offers fast, transparent and low-cost international payment services to over 5,000 businesses, powered by Wise Platform.
