Allica Bank partners Wise Platform for cross-border payment solution
UK challenger Allica Bank has partnered up with Wise Platform, Wise’s payment infrastructure for banks and fintechs, to enable cross-border payments for UK businesses.
Allica Bank in partnership with Wise Platform
Through Wise Platform, Allica Bank’s customers, which are businesses with 10 to 250 employees, will be able to make “transparent and low-cost” payments to 160 countries supported by Wise. Both firms claim that the feature comes with no hidden fees for businesses and no exchange rate mark-ups.
By integrating the platform within Allica Bank’s mobile app, customers will be able to make international payments without leaving the banking app and with upfront information about the total fees to be borne and the exact amount that will reach the recipient.
“Partnering with Wise Platform provides our business current account customers with an even broader range of tools to help their business thrive,” says Nida Sattar, head of product – payments, Allica Bank.
“Our mission is to give established businesses the banking they deserve, and this integration with Wise Platform means our customers can spend more time focusing on their business, rather than the complexity and hidden costs associated with international payments.”
To date, Wise Platform claims to be working with more than 70 partners including banks and enterprises. In June, it signed its first Japanese deal by onboarding GMO Aozora Net Bank.
