Morgan Stanley, the US-based investment banking giant, has announced a partnership with London-based global money transfer firm Wise to enhance its foreign exchange settlement services for corporate clients. The collaboration will see Morgan Stanley leverage the Wise Platform, a global payments infrastructure, to deliver instant cross-border settlement capabilities.
With this partnership, Morgan Stanley becomes the first investment bank to integrate Wise’s corporate payment capabilities into its offerings. The collaboration enables Morgan Stanley to offer seamless, instant international settlements to its corporate clients, addressing the growing demand for faster and more efficient global payment solutions.
Wise Platform, known for its scalability and efficiency, powers cross-border transactions for numerous financial institutions. The addition of Morgan Stanley to its roster strengthens Wise’s position as a leading provider of payment infrastructure for the global financial sector.
This partnership adds to a year of significant growth for Wise Platform, which has seen collaborations with major financial players such as Standard Chartered and Brazil’s Nubank.
Founded in 2011, Wise processes £9 billion in international transactions monthly and serves a global customer base of 16 million. Its operations are supported by a network of over 65 regulatory licenses and six direct connections to major payment networks, enabling efficient and compliant payment processing.
This year, Wise achieved two major milestones: gaining approval to join Japan’s domestic payment system, Zengin, and accessing the Philippines’ real-time payment network, InstaPay.
Wise’s collaboration with Morgan Stanley underscores the investment bank’s commitment to adopting innovative solutions to enhance client services. By integrating Wise’s advanced payment infrastructure, Morgan Stanley aims to streamline foreign exchange settlements for corporate clients, offering speed, transparency, and reliability in global transactions.
As Wise continues to expand its partnerships with major financial institutions, it is setting new standards in cross-border payment technology, solidifying its role as a transformative player in the global financial ecosystem.
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