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

[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.