Fintech firm Wise is pleased to announce that Raiffeisen Bank International, a corporate and investment bank in Central and Eastern Europe (CEE), has partnered with Wise Platform in order to “enable fast, secure, low-cost and transparent international payments for personal and business customers across the region.”
Operating as a so-called “universal” banking platform in 11 Central and Eastern European markets, Raiffeisen will now be rolling out their solution across its network, enabling customers “to move money faster and more conveniently directly from their existing Raiffeisen accounts.”
As mentioned in the announcement from the Fintech firm, “65% of Wise’s transfers are settled instantly (in 20 seconds or less) and 95% are completed in under 24 hours.”
With this latest partnership, Raiffeisen reportedly joins a “roster of banks choosing Wise Platform to enhance their cross-border payment capabilities and end-to-end experience, driving customer loyalty.”
Matthias Dekan, Head of Payments & Daily Banking at Raiffeisen Bank International said:
“In the past few years, we have seen growing customer demand and rising expectations for seamless international payments and we’re looking forward to going live with this innovative offering. Our collaboration with Wise Platform will allow us to provide our customers with a superior international payments experience.”
Steve Naudé, Global Managing Director at Wise Platform said:
“This partnership highlights major banks’ commitment to providing outstanding customer experiences and modernising their international payments offering with Wise Platform. By integrating our payments infrastructure, Raiffeisen is taking a significant step towards offering customers and businesses exactly this: cross-border payments that are instant, transparent, and ultimately more affordable, and we’re excited to be powering this for their customers.”
Wise Platform is reportedly being powered by 70+ licenses and six direct connections to payment systems globally, which is helping with “enabling fast and secure cross-border payments to 160+ countries and 40+ currencies.”
As covered, UK Fintech Wise recently unveiled the launch of ‘Spend with Others’, a feature that has reportedly been designed to simplify shared spending for consumers.
‘Spend with Others’ enables clients to set up a group of family and friends to spend together straight / directly from Wise, splitting everything from everyday costs to trips taken abroad.