Wise, the global technology company building the best way to move and manage the world’s money, today announced that it has been selected by Morgan Stanley, a leading global financial services firm, to facilitate Morgan Stanley’s foreign exchange international settlement capabilities for its corporate customers. Morgan Stanley will offer clients high-speed cross-border settlements through Wise Platform, Wise’s global payments infrastructure for banks. This integration will also make Morgan Stanley the first investment bank to enable these corporate payment capabilities on Wise Platform.
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This market leading solution pairs Wise’s cutting edge payments capabilities with Morgan Stanley’s one-firm, integrated, cross-divisional approach to providing the best solutions for its client base. By harnessing Wise’s technology and local connectivity, Morgan Stanley can focus on servicing its sophisticated clients while reducing implementation timelines. The offering will complement Morgan Stanley’s existing suite of transactional foreign exchange services targeting corporate and institutional clients.
Steve Naudé, Managing Director, Wise Platform said, “This relationship marks a significant milestone in the growing number of trusted global banks that are choosing to power their cross-border payments through Wise Platform. Morgan Stanley has a strong and clear payments vision for the experiences and solutions they want to offer their customers, and we’re thrilled to be working with them to enable their corporate payment capabilities and bring fast, cost-effective, transparent and easy payments to Morgan Stanley’s clients.”
Samer Oweida, Global Head of Foreign Exchange and Emerging Markets, Morgan Stanley said, “At Morgan Stanley, we are committed to delivering best-in-class technology solutions to our clients. Our relationship with Wise enables us to adapt to the evolving needs of our clients and deliver one of the fastest, operationally robust and cost-effective payment capabilities in the banking industry.”
Wise Platform works with the world’s leading banks, financial institutions, and businesses to power their international payments using Wise’s global infrastructure. With 65+ licences and 6 direct connections to payment systems, 63 percent of Wise’s cross-border payments are completed instantly, under 20 seconds. Additionally, Wise Platform partners benefit from the expertise of a global engineering team and dedicated specialists in implementation, compliance and 24/7 support, to ensure seamless, secure and fast integrations.
Over the past 14 years, Wise has been singularly focused on building the network for the world’s money by solving the complexities of moving and managing money across borders. Its selection by Morgan Stanley is a testament to the speed, scale and reliability of the infrastructure and network it’s built over the last decade.
About Wise Platform
Wise is a global technology company, building the best way to move and manage the world’s money. Over the last decade, Wise has built an entirely new network for the world’s money.
Thanks to Wise Platform, banks and large companies can leverage Wise’s technology and embed the best way to send, receive, and manage money internationally into their existing infrastructure. With a wide variety of partners worldwide, Wise Platform saves banks and businesses time and money by allowing them to seamlessly bring fast, cheap, transparent and convenient cross-border payments to their customers.
About Morgan Stanley
Morgan Stanley (NYSE: MS) is a leading global financial services firm providing a wide range of investment banking, securities, wealth management and investment management services. With offices in 42 countries, the Firm’s employees serve clients worldwide including corporations, governments, institutions and individuals. For further information about Morgan Stanley, please visit www.morganstanley.com.
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