Allica Bank and Wise Platform Transform UK Business Global Payments
Enhanced Cross-Border Payment Solutions Empower UK Businesses
In a groundbreaking partnership, Allica Bank, a UK-based challenger bank catering to established businesses with 10 to 250 employees, has joined forces with Wise Platform, the global payment infrastructure offered by Wise. The collaboration is set to transform international payments for UK businesses, providing them with a transparent and cost-effective means of sending money across borders.
Seamless International Payments for Ambitious UK Businesses
Allica Bank‘s primary objective in this partnership is to offer its customers a seamless and direct route to making international payments to 160 countries supported by Wise. This strategic alliance ensures that Allica’s business customers, with aspirations of global expansion, can now use their current accounts to initiate international transactions, all without the burden of hidden fees or exchange rate markups.
Simplicity at Your Fingertips
This integration’s key advantage is its simplicity and convenience to Allica Bank customers. Thanks to Wise Platform’s integration within Allica Bank’s mobile app, customers can now complete the entire process of international payments without leaving their banking application. This includes receiving upfront information about the total fees associated with the transaction and ensuring that the exact amount reaches the intended recipient.
Streamlined Transactions for Business Growth
Steve Naudé, the Head of Wise Platform, highlighted the importance of this partnership, saying, “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.”
Empowering Businesses with Time and Cost Savings
Nida Sattar, Head of Product and Payments at Allica Bank, echoed this sentiment, stating, “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.”
A Comprehensive Banking Ecosystem
This strategic partnership adds to Allica Bank’s comprehensive range of offerings, which include commercial mortgages, asset finance, business current accounts, and savings accounts tailored to the needs of SMEs, all backed by dedicated relationship managers.
Wise Platform: Expanding Horizons
Wise Platform has been steadily expanding its reach and impact, boasting over 70 partners, including banks and enterprises. Their mission is to empower businesses by seamlessly integrating the power of Wise into existing infrastructures, facilitating efficient and cost-effective international money transfers.
A Collaborative Future for Allica Bank
In addition to this partnership, Allica Bank has recently collaborated with ClearBank, a cloud-based banking platform, to bolster banking operations for UK small and medium-sized businesses. This collaboration ensures access to essential UK payment schemes, such as Faster Payments (FPS), CHAPS, and Bacs, using API-first, cloud-native technology. Allica Bank’s commitment to delivering value-driven solutions aligns perfectly with its vision for growth and scalability.
In Conclusion
In summary, the partnership between Allica Bank and Wise Platform marks a significant step forward in revolutionising international payments for UK businesses. By offering transparency, cost-efficiency, and convenience, this collaboration empowers businesses to focus on what truly matters – their growth and success. As Allica Bank and Wise Platform continue to innovate, the future of seamless cross-border transactions for UK businesses looks brighter than ever.
