“Our collaboration with Wise illustrates how Swift can be the bedrock from which the whole industry can innovate to improve cross-border payments and enhance the options available for customers across the globe.” – Swift

Swift and Wise (LON: WISE) have joined forces to expand cross-border payment options globally, benefiting financial institutions and their customers. This collaboration allows payments sent securely via Swift to seamlessly complete over Wise with end-to-end transparency.

Financial institutions can route Swift payment messages directly to Wise Platform through its Correspondent Services solution, offering the speed and convenience of Wise without major system changes.

Wise Platform will utilize advanced Swift capabilities, including cloud and API connectivity, to enhance its services. This collaboration aims to meet the growing demand for choice in the financial ecosystem while ensuring secure, reliable, and inclusive connectivity.

It aligns with G20 and UN Sustainable Development goals for cross-border transactions.

Thierry Chilosi, Chief Strategy Officer at Swift, emphasized the importance of such cooperation in achieving these goals and enhancing cross-border payments.

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Image by Gerd Altmann from Pixabay