Standard Chartered Partners with Wise Platform to Revolutionize Cross-Border Payments

November 6, 2024 – London and Singapore – Standard Chartered, a leading global bank, has joined forces with Wise Platform, the international payments infrastructure of Wise, to transform its cross-border payments service, SC Remit. This partnership aims to deliver faster, more affordable, and fully transparent international transactions for customers across Asia and the Middle East.
Through the integration of Wise Platform’s API, Standard Chartered’s SC Remit customers will soon be able to transfer funds in 21 currencies, including USD, CAD, EUR, GBP, SGD, HKD, and JPY, in seconds. Using the mid-market exchange rate without markups, the service ensures price transparency and enhanced convenience for users.
The phased rollout will commence over the coming quarters, with future plans for expansion to additional markets and currencies, reinforcing Standard Chartered’s commitment to providing seamless global banking experiences. The bank’s partnership with Wise Platform also reflects a broader strategic shift towards digital banking solutions that prioritize speed, cost-effectiveness, and reliability in international payments.
Samir Subberwal, Global Head of Wealth Solutions, Deposits and Mortgages, and Chief Client Officer at Standard Chartered, commented: “Our goal is to continually elevate the banking experience for our clients, and partnering with Wise Platform, known for its extensive currency coverage and swift cross-border payment capabilities, is a significant step forward. This collaboration enhances SC Remit, delivering fast, affordable, and efficient global payments to our clients.”
Steve Naudé, Managing Director of Wise Platform, added: “We are excited to partner with a global bank like Standard Chartered to redefine cross-border payment experiences. With Wise’s infrastructure, Standard Chartered gains access to our global payment licenses, six direct connections, and expertise in compliance and treasury management. Together, we’re making fast, secure, and low-cost international payments accessible to SC Remit customers.”
With over 65 licenses worldwide and an average transaction time of less than 20 seconds for 63% of its cross-border payments, Wise Platform is increasingly becoming the partner of choice for financial institutions aiming to streamline and enhance international payments.