Wise Platform noted that during the past year, they’ve expanded their global payments network and made some upgrades to their products, giving clients more ways to deliver better cross-border payment experiences.
Wise Platform, a part of UK-headquartered Fintech Wise (LSE:WISE), expanded their direct connections to 6 local payment systems, including for GBP, HUF, SGD, EUR, PHP and AUD, allowing clients to “deliver fast and low-cost services to customers.”
Wise Platform is also pleased announce that they are to soon add a 7th direct connection to Zengin, Japan’s domestic domestic payments network.
As the “first” non-bank provider approved to join the system, Wise Platform is pleased to bring the ability to process payments in real-time to clients.
As clarified in the update from Wise, transaction speed claimed depends “on individual circumstances and may not be available for all transactions.”
As covered earlier this month, Morgan Stanley (NYSE:MS) has decided to partner with Wise to improve international transfers. Wise is a UK-based Fintech or neobank that started as a low-cost provider of payments and transfers and now offers additional banking features.
As reported recently. global Fintech Wise has entered European remediation plans over AML (anti- money laundering) issues. The global money transfer company has been ordered by European regulatory authorities to initiate a formal remediation plan regarding issues with its AML controls.
Many other Fintechs and financial services providers have also been failing to address regulatory requirements and 2024 was no different. Compliance has become essential in the digital age and companies that don’t prioritize customer protection and safety will have to deal with strict regulatory enforcement actions as we head into 2025.
As covered last month, Wise, the tech company building the “best” way to move and manage the world’s money has been granted direct access to InstaPay, the Philippines’ real-time payment system, and can settle with the Bangko Sentral ng Pilipinas’ (BSP) real-time gross payment system, PhilPaSS Plus.