Swan has partnered with Wise Platform, Wise’s infrastructure offering for banks, financial institutions, and enterprises globally.
This collaboration aims to enable Swan’s clients to send and receive money from over 190 countries swiftly, transparently, and cost-effectively.
The core of this partnership lies in facilitating international payments. Swan’s 100+ clients can now empower their customers to transact in 20+ currencies at the mid-market rate, with a significant portion of these transfers being settled in under 20 seconds. The integration of Wise Platform into Swan’s technology stack enhances the seamless execution of international payments, thus minimizing implementation timelines and expenses. Consequently, clients can dedicate more effort towards their principal business operations while improving the customer experience.
Swan stands out in the European market by allowing companies to seamlessly incorporate banking features, such as accounts, cards, and payments, into their products. This not only creates comprehensive user experiences but also generates additional revenue streams. A prime example of Swan’s impact is Pennylane, an accounting software that recently attained unicorn status, which utilizes the international payments feature as a key component of its mid-market expansion strategy.
On the other hand, Wise Platform is renowned for its infrastructure solutions designed to simplify and economize global financial transactions for banks, financial institutions, and businesses. This partnership marks a significant milestone in providing European clients with an intuitive, affordable, and efficient mechanism for conducting international business transactions.
Additional insights into the partnership reveal that it opens new avenues for strategic growth, particularly within the domains of financial management and niche banking software. Swan’s focus on leveraging local routes ensures that companies can offer the most cost-effective and fastest transfer services, alongside upfront fee transparency.
Noteworthy quotes from the involved executives underline the enthusiasm and strategic vision behind this collaboration. Tancrède Besnard, VP Product of Pennylane, highlighted the critical nature of being able to process international supplier payments in foreign currencies for medium and large enterprises. Steve Naudé, Managing Director of Wise Platform, emphasized the shared commitment to easing customers’ operational burdens. Nicolas Benady, CEO of Swan, remarked on the strategic benefits of embedding international payment capabilities within European companies’ products, citing the advantages of cost-efficiency, speed, and transparency.
Source: fintech.global
