Wise enters Japan with B2B infrastructure offering
“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.”
Wise Platform has announced its first partnership in Japan with GMO Aozora Net Bank, Ltd, to provide fast, low-cost international payments to more than 80,000 corporate customers.
Wise’s infrastructure offering for banks and non-banks alike will power GMO Aozora Net Bank for international payments in 8 currencies to 28 countries and regions including the US, UK, China, Australia, and Singapore.
“International remittances remain a heavy burden”
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.”
GMO Aozora Net Bank’s corporate customers have requested an inexpensive, fast, and hassle-free overseas remittance service as they look to expand overseas or hire international talent. The bank’s online banking business was launched in July 2018.
The partnership with Wise Platform allows GMO Aozora Net Bank’s corporate customers to access this new service via their internet banking platform 24 hours a day, 365 days a year. The cross-border payments network processes payments in as little as two minutes.
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.