We’re delighted to announce our latest Wise Platform partnership with Swan, the European leader in embedded finance. Swan enables companies across Europe to easily embed banking features such as accounts, cards, and payments into their own product. However, one thing was missing from their offer; efficient and cost-effective international payments.
To make life easier for Swan’s clients, we fully integrated our Wise Platform API into their technology stack - allowing their clients to enable international payments seamlessly. There were two main benefits to this approach: reducing implementation timelines and costs, and keeping the all-in-one user experience that makes Swan so successful.
We’re proud to announce that as of today, Swan’s 100+ clients can enable their customers to send and receive funds in 20+ currencies at the mid-market rate 1 in just a matter of seconds. For reference, over 60% of all transfers sent globally via Wise now settle instantly (meaning payments settle in less than 20 seconds and 94% within 24 hours).
Nicolas Benady, CEO at Swan said: “People expect in-app payments to be available in whatever currency they need. Through Swan's partnership with Wise Platform, any European company can now easily embed international payments into their product.
"Because Swan prioritises local routes, companies can offer transfers with the lowest costs and fastest delivery. They can offer complete transparency too, by displaying fees in advance of each transfer. This significant upgrade opens up strategic growth opportunities, especially for financial management and niche banking software.”
We share the philosophy with Swan of building products and solutions that make life easier for customers and enable them to focus on their core business.
If you want to learn more about how Wise Platform is opening up a world of payments for banks and global enterprises, visit the Wise Platform website.
1. The mid-market exchange rate is the midpoint between the buy and sell prices of any two currencies at any time. It is the rate naturally set by the market.
