Swan partners with Wise Platform

Through this partnership, Swan’s more than 100 clients can provide international payments which allow their customers to send and receive funds in over 20 currencies at the mid-market rate. Currently, over 60% of all transfers sent worldwide via Wise settle instantly, meaning in less than 20 seconds, as per the company’s data. The collaboration enables Wise Platform to be fully integrated into Swan’s technology stack, which is set to minimise implementation timelines and costs. The two companies aim to allow clients to focus their efforts on their core business and provide a more convenient user experience for their customers.

Furthermore, Swan focuses on delivering banking capabilities to companies operating across Europe, including accounts, cards, and payments, and allowing them to integrate them into their product. Through this, companies are set to receive the ability to develop improved, all-in-one user experiences whilst also generating additional revenue. Pennylane, one of Swan’s customers, underlined that the international payment upgrade supports the company’s expansion strategy which targets the mid-market. Additionally, representatives from Wise Platform mentioned that their organisation’s commitment aligns with Swan’s, with both companies aiming to develop products and solutions that simplify the operations of their customers. The current collaboration is set to equip clients across Europe with intuitive, cost-effective, and more efficient ways to send and receive money when conducting business internationally.

According to Swan’s officials, the alliance with Wise Platform aims to allow European companies to embed international payments into their products. As Swan focuses on prioritising local routes, clients can provide transfers with a decreased cost and with accelerated delivery. Also, they are set to be able to provide complete transparency by displaying fees in advance for each transfer. The upgrade intends to deliver strategic expansion opportunities, especially for financial management and banking software. Now, Wise Platform is leveraged by most European neobanks to implement cross-border payment services efficiently, including N26, bunq, and Activo.

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