Wealthsimple, Canada’s leading financial innovator, has become a member of the SWIFT global financial messaging network. Wealthsimple is the first Canadian fintech, and the second non-bank fintech in the world, to achieve membership.
SWIFT is used by 11,000 financial institutions globally to facilitate trillions of dollars in payments around the world. In addition to making, sending, and receiving international money transfers more seamless and efficient for its clients, SWIFT also unlocks end-to-end tracking visibility, allowing Wealthsimple’s clients to see the full journey of a wire transfer with real-time status updates.
“Many Canadians rely on international wire transfers, and yet to date, the experience has been clunky and expensive. We want to fix that,” said Hanna Zaidi, VP Payments Strategy at Wealthsimple. “Our SWIFT membership is going to unlock faster, simpler, and more transparent international money transfers for the more than three million Canadians who trust Wealthsimple.”
“Innovations like the Real-Time Rail have a meaningful potential to improve the prosperity and user experience of clients at Canadian financial institutions,” said Donna Kinoshita, Payments Canada’s Chief Payment Officer. “We are looking forward to seeing these innovative new services in the hands of consumers.”
Wealthsimple is now officially registered as a SWIFT member and is completing final technical integration and security certification ahead of a full client launch, expected in Spring 2026.
Direct membership to SWIFT builds on Wealthsimple’s commitment to making money movement lower cost and more seamless for Canadians. The company will also be an early adopter of Canada’s forthcoming Real-Time Rail (RTR) payment system. This will make Wealthsimple clients some of the first to experience instant money movement between institutions, powered by the RTR.
