Wise Platform Enters 2022 With Seven New Bank Partnerships

Wise Platform, the B2B embedded finance arm of Wise (formerly TransferWise), entered 2022 having secured seven new banking partnerships for its international payments infrastructure. The platform enables banks and financial institutions to integrate Wise's cross-border payment capabilities directly into their own customer-facing products via API, allowing end users to send international transfers without leaving their bank's app. By early 2022, Wise Platform had expanded its reach to partnerships with more than 20 banks globally.

The embedded approach allows partner banks to offer competitive FX rates and faster international transfers without building the infrastructure themselves. This expansion reflects the broader trend of banks seeking BaaS and embedded finance partnerships to enhance their product offerings. Financial terms of individual partnerships were not disclosed.

The strategy positions Wise as a key infrastructure provider in the embedded cross-border payments space.