Source: Wise
Wise Platform, Wise’s infrastructure offering for banks and non-banks alike, has announced its first partnership in Japan with GMO Aozora Net Bank, Ltd, bringing fast, low-cost international payments to more than 80,000 corporate customers.
GMO Aozora Net Bank launched its online banking business in July 2018, and since then has received a high volume of requests from corporate customers for an inexpensive, fast, and hassle-free overseas remittance service. Particularly as businesses look to expand overseas or hire international talent, international payments have become a high business priority worldwide.
Powered by Wise Platform’s easy-to-use APIs, GMO Aozora Net Bank customers can now send international payments in 8 currencies to 28 countries and regions including the US, UK, China, Australia, and Singapore.
GMO Aozora Net Bank’s corporate customers can access this new service via their internet banking platform 24 hours a day, 365 days a year. Thanks to Wise’s cross-border payments network, they can even expect their payments to be completed in as little as 2 minutes. This means businesses can better manage their invoicing and supplier payment needs.
GMO Aozora Net Bank is Wise Platform’s fifth banking partner in Asia alongside Hong Kong’s ZA Bank, Indonesia’s Bank Mandiri, Singapore’s Aspire and South Korea’s Shinhan Bank.
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Takehito Kaneko, Chairman and Representative Director of GMO Aozora Net Bank, said: “Since setting up a new digital banking business, we have received many requests from corporate customers regarding international money transfer service. We’re glad to be the first bank in Japan to launch a fast and inexpensive international money transfer service for customers using Wise Platform. Through this partnership, we will support the global business transactions of corporate customers and will continue to develop and provide services that respond to customers’ needs as the No.1 Tech Bank that grows together with our customers.”
Steve Naude - Head of Wise Platform, said: “International remittances remain a heavy burden for small and medium-sized enterprises with limited resources. GMO Aozora Net Bank and Wise share a vision of modernising the global financial system and enabling fair and transparent banking for everyone. Through this partnership, SMEs using GMO Aozora Net Bank will be able to enjoy Wise’s fast, transparent and convenient international money transfer service at lower rates than traditional providers.”