Morgan Stanley has become the first investment bank to adopt the Wise Platform for managing foreign exchange international settlements for its corporate clients.
A Milestone in Banking Technology
This collaboration marks a major step forward in the trend of global banks integrating Wise’s cross-border payment technology. Morgan Stanley’s move reflects a shift in the banking industry, as financial institutions increasingly turn to specialized platforms to streamline international payments.
Key Advantages of Wise Platform:
- 65+ licenses globally and six direct connections to payment systems.
- 63% of payments completed in under 20 seconds.
- Simplifies cross-border payments, eliminating the complexity of self-managed systems.
For Morgan Stanley, the Wise partnership offers ready-made infrastructure, speeding up implementation while allowing the bank to focus on enhancing client services.
Driving Efficiency and Speed
Samer Oweida, Global Head of Foreign Exchange and Emerging Markets at Morgan Stanley, emphasized the benefits:
“At Morgan Stanley, we are committed to delivering best-in-class technology solutions to our clients. Our relationship with Wise enables us to adapt to the evolving needs of our clients and deliver one of the fastest, operationally robust, and cost-effective payment capabilities in the banking industry.”
Impact on the Industry
This move by a blue-chip investment bank underscores a broader trend of financial institutions adopting fintech-driven solutions for efficiency and scalability. As the first investment bank to integrate Wise technology, Morgan Stanley sets a precedent for leveraging advanced infrastructure to deliver high-speed cross-border settlements.