𝐔𝐧𝐝𝐞𝐫𝐬𝐭𝐚𝐧𝐝𝐢𝐧𝐠 𝐇𝐨𝐰 "𝐖𝐢𝐬𝐞 𝐏𝐥𝐚𝐭𝐟𝐨𝐫𝐦" 𝐏𝐨𝐰𝐞𝐫𝐢𝐧𝐠 𝐁𝐚𝐧𝐤𝐬 𝐚𝐧𝐝 𝐄𝐧𝐭𝐞𝐫𝐩𝐫𝐢𝐬𝐞𝐬

The third pillar is Wise Platform – essentially Wise’s “payments-as-a-service” offering. Through Wise Platform, banks, fintechs and large enterprises can integrate Wise’s infrastructure into their own apps and services. Instead of building an international payments network from scratch, an institution can plug into Wise via API or a partner interface. This allows, for example, a traditional bank to offer its customers low-cost, fast international transfers with Wise working behind the scenes. As Wise describes it, Wise Platform “connects banks, financial institutions and enterprises to our next-generation payment solutions” and lets them “deliver the experiences customers seek out – from within [their] own product ecosystem.”

This B2B2C model has quietly extended Wise’s reach to millions more end-users. By 2023, an additional 25 million people had access to Wise-powered payments through various bank and enterprise partnerships. Dozens of financial institutions have joined, including neobanks and global banks. For instance, Monzo in the UK was an early partner, using Wise to power international transfers in the Monzo app. N26 in Europe does similar. Even big names like Google (for Google Pay’s remittance feature), Morgan Stanley (wealth management clients), and Standard Chartered (in Asia) have partnered with Wise. A bank like Mandiri in Indonesia or Nubank in Brazil can integrate Wise to offer cross-border transfers natively, rather than sending customers to a wire transfer desk. By FY2025, Wise highlights that its Platform was enabling partners “including global banks like Morgan Stanley and Standard Chartered” to provide Wise’s experience to their clients.

In practice, Wise Platform can do more than just remittances: partners can utilize international accounts, card issuance, and other features via Wise APIs. For example, a payroll platform could use Wise to pay out gig workers globally in their local currency. All of this drives volume into Wise’s network while the end-customer might not even realize Wise is involved. It’s a “network effect” play – the more partners join Wise Platform, the more volume flows through Wise, improving scale and lowering costs for all users. In FY2024, Wise noted that 25 new Wise Platform partnerships went live, contributing to millions of new potential users and sending corridors. The Platform business is still an emerging part of Wise (it accounted for 9% of Wise’s total volume in FY2023), but it’s strategically significant. It positions Wise not just as a consumer app, but as a behind-the-scenes infrastructure provider for the world’s money movement.