Wise Platform and Allica Bank join forces to offer cost-effective and transparent international money transfers for UK businesses.
Wise Platform, the global payment infrastructure for banks and large corporations, has partnered with Allica Bank, an online banking platform for businesses, to offer UK firms an affordable and transparent means of sending money abroad.
Allica Bank, a challenger bank that specializes in working with established companies that employ between 10 and 250 people, joined the alliance to allow its clients to send money directly and easily to 160 countries that are supported by Wise.
Since they can now transmit worldwide payments using their current accounts with clear fees and no exchange rate markups, the cooperation is a big step forward for Allica’s company customers who want to grow and operate globally.
“Our partnership with Allica Bank is a significant step forward, bringing streamlined cross-border payments to more businesses across the UK,” stated Steve Naudé, head of Wise Platform, in explaining the rationale behind the new deal.
“Speed and dependability are crucial for individuals and businesses these days, and our collaboration will guarantee that clients can conduct safe, affordable, and swift international transactions.”
Customers of Allica can swiftly and easily finish the entire process of making an overseas payment within their banking app thanks to the integration of the Wise Platform.
Clients will be able to ensure that the receiver receives the precise amount they have paid and will be aware up front of all costs associated with sending money abroad.
Assisting clients in “investing more time in their business”
“Partnering with Wise Platform provides our business current account customers with an even broader range of tools to help their business thrive,” stated Nida Sattar, head of product and payments at Allica Bank.
Our goal is to provide established companies with the banking they need, and by integrating with Wise Platform, we enable our clients to concentrate more of their time on running their businesses than on the complexities and unstated expenses of sending money internationally.
Allica Bank provides a variety of asset finance options, business current accounts, savings accounts designed specifically for well-established SMEs, and commercial mortgages, all supported by relationship managers.
With more than 70 partners as of right now, including banks and businesses, Wise Platform enables them to incorporate the strength of Wise into their current infrastructure and guarantee that they can include the greatest method for sending, receiving, and managing money globally.