Standard Chartered, a prominent global bank, has joined hands with Wise Platform, a leader in global payments infrastructure, to power a revamped cross-border payment service, SC Remit.
This partnership will streamline international transactions for customers in Asia and the Middle East, offering rapid transfers across 21 currencies including USD, CAD, EUR, GBP, SGD, HKD, and JPY.
The collaboration between Standard Chartered and Wise Platform is designed to enhance Standard Chartered’s SC Remit service by integrating Wise’s cutting-edge API. This will ensure faster, cheaper, and more transparent international payments, catering to the growing needs of customers who prioritize swift and cost-effective transactions.
Wise, formerly known as TransferWise, has redefined money movement across borders. With a robust network that includes over 65 licences and 6 direct connections to payment systems, Wise ensures that 63% of its cross-border payments are completed in under 20 seconds.
Standard Chartered global head, wealth solutions, deposits and mortgages, and chief client officer Samir Subberwal said, “We’re continually improving how we deliver exceptional banking experiences for our clients. We chose to partner with Wise Platform due to their extensive currency coverage and stellar cross-border payments experience they are known for. This collaboration is a key step in enhancing our international payment services as we offer an even more seamless, faster, and efficient digital global payments experience to our clients.”
Wise Platform Managing director Steve Naudé said, “The partnership with Standard Chartered, one of the biggest global banks, marks a significant milestone in financial institutions investing in building better international payment experiences for customers. Wise and Standard Chartered share the same vision for creating frictionless payment experiences for customers, and we are thrilled to be working together to help SC Remit customers access fast, secure and low-cost international payments.”
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