Allica Bank partners with Wise to bolster cross-border payments for UK SMEs
The SME-focused bank is helping its customers expand internationally with access to global payments directly from their business current account
Allica Bank is partnering with Wise Platform to provide its business customers with access to low-cost overseas transfers.
The platform, Wise’s payment infrastructure for banks and major enterprises, allows businesses to integrate Wise into their existing infrastructure, embedding the ability to send, receive and manage money internationally.
Through the partnership, the challenger bank for SMEs will allow its customers to make global payments directly to 160 countries.
“Partnering with Wise Platform provides our business current account customers with an even broader range of tools to help their business thrive,” Allica Bank head of product – payments Nida Sattar said.
“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.”
The integration will help Allica’s business customers grow internationally, using their current accounts to make international payments without exchange rate markups.
“Our partnership with Allica Bank is a significant step forward in bringing streamlined cross-border payments to more businesses across the UK,” Wise Platform managing director Steve Naudé said.
“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.”