If you can't beat Wise on FX, and reality is most fintechs can't; then the smarter move is to partner with them. Let’s go into the why!
In this episode recorded live at Money20/20 Asia, I speak with Samarth Bansal, General Manager at Wise Platform.
We go behind the scenes and I ask the questions I’ve always had hypothetical answers to. For years my mandate as a Neobank Product leader was to beat Wise, and I knew unless we were to change our business model to properly compete, the answer is we can’t.
But now, FinTechs and banks can partner with Wise through Wise Platform. It’s a fascinating conversation!
We cover:
[01:00] How Wise approaches cost efficiency: the obsession behind the pricing model
[02:30] What actually drives Wise's infrastructure advantage
[04:30] Going direct into local payment rails and optimising treasury FX forecasting
[08:30] How embedding Wise Platform made life easier for banks and their customers
[09:30] Standard Chartered, Bank Mandiri, Morgan Stanley: who's using Wise Platform and why
[17:00] How Wise prioritises market expansion, and what drives corridor decisions
[19:00] Instant payment rails in APAC: PayNet, PromptPay, and what sits on top
[21:00] How Wise achieves sub 20 second transfers: compliance, liquidity, and rail access
[23:00] Where AI fits, and where Wise is being deliberate about deployment
[25:00] Why APAC will redefine global cross border payments standards within three years
👉 Follow Samarth:
LinkedIn: https://www.linkedin.com/in/samarthbansal/
Website: https://wise.com
👉 Connect with Monica
LinkedIn: https://www.linkedin.com/in/monicamillares/
YouTube: https://www.youtube.com/@moni_millares
TikTok: https://www.tiktok.com/@moni_millares
Production and marketing by Monica Millares. For inquiries about sponsoring the podcast, email Monica at [email protected]
Disclaimer: This episode does not constitute professional nor financial advice and does not represent the opinion nor views of my current, past or future employers. The guest has agreed to record and release our conversation for the use of this podcast and promotion in social media.
