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Allica Bank taps Wise to bolster cross border transfers for UK SMEs

By Gloria Methri

December 05, 2023

  • Allica Ban
  • B2B Payments
  • Challenger Bank

Wise, Wise Platform, Allica Bank, Cross Border Payments, SME Payments, FinTech, UKGlobal payment infrastructure provider Wise has partnered with Allica Bank to provide UK businesses with a transparent and low-cost way to send money internationally. The partnership empowers Allica Bank to enable its small business customers to make global payments directly and seamlessly to 160 countries supported by Wise.

This is a significant step for Allica’s business customers who wish to expand and operate internationally. Small businesses can use their current accounts to send international payments with transparent fees and no exchange rate markups.

The Wise Platform integration means that Allica customers can complete the whole international payment process quickly and conveniently within their own banking app. Customers will know the total fees for making an international payment upfront and can guarantee the exact amount received by their recipient.

Nida Sattar, Head of Product – Payments, Allica Bank said, “Partnering with Wise Platform provides our business current account customers with an even broader range of tools to help their business thrive. 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.”

Steve Naudé, Head of Wise Platform, added, “Our partnership with Allica Bank is a significant step forward in bringing streamlined cross-border payments to more businesses across the UK. Nowadays, pace and reliability are essential for both individuals and businesses, and our partnership will ensure customers have access to quick, low-cost, and secure international transactions.”

Wise Platform currently has over 70 partners, including banks and enterprises, enabling them to integrate the power of Wise into their existing infrastructure and ensuring they can embed the best way to send, receive, and manage money internationally.

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