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Wise aims for faster, cheaper transactions amid Asia-Pacific expansion

The London-listed fintech firm continues building its technological capabilities to complement existing banking services

Mia Pei
Published Mon, Apr 14, 2025 · 07:00 AM
    • Wise co-founder and CEO Kristo Kaarmann notes that having pricing transparency in cross-border wire transactions would increase competition among banks.
    • Wise co-founder and CEO Kristo Kaarmann notes that having pricing transparency in cross-border wire transactions would increase competition among banks. PHOTO: WISE

    [SINGAPORE] Wise has always focused on building payment infrastructure that makes international transactions cheaper and faster. And co-founder and chief executive officer Kristo Kaarmann believes the fintech company is now winning over more banks as new clients as its technological expertise to enhance cross-border payments has been recognised as a complement to existing banking services.

    “Rather than competing with banks, we see ourselves as a collaborator (with) banks,” Kaarmann told The Business Times.

    Many traditional banks, he said, have limited tech capabilities, and need to focus on domestic banking. On the other hand, Wise, as a payment-infrastructure builder with more than 800 engineers globally, creates value in international banking.

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