Wise to bolster Morgan Stanley’s FX settlements

credit: metamorworks/Shutterstock
credit: metamorworks/Shutterstock

Global paytech company Wise has been selected by Morgan Stanley to facilitate its foreign exchange international settlements for its corporate customers. 

The US investment bank will offer clients cross-border settlements through the Wise Platform, its global payments infrastructure for banks. The integration will also make Morgan Stanley the first investment bank to enable corporate payment capabilities on Wise Platform.

Wise combines its 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 will be able to focus on servicing its clients while reducing implementation timelines. 

Samer Oweida, Global Head of Foreign Exchange and Emerging Markets at 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 leveraging Wise’s global infrastructure. With over 65 licences and six direct connections to payment systems, 63% of Wise’s cross-border payments are completed in under 20 seconds.

Additionally, Wise Platform partners can 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.

Steve Naudé, Managing Director of Wise Platform, added: “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.”