TransferWise, one of the best known international money transfer app, is a U.K. based company which provides banks with the access of its APIs to facilitate money transfers. It has taken a major step further in its gargantuan growth with the partnership with BPCE Groupe- France’s second largest bank.
Considering the fact that such partnerships are meagre in a banking sector due to the competitive space, it can be seen as the most significant success for TransferWise. The company will provide its services to more than 15 million customers of BPCE Groupe and it is first time that a major bank in Europe is directly integrating TransferWise API into its mobile banking app.
Currently, TransferWise partners with Estonia’s LHV, and a German challenger bank N26. The BPCE Groupe and TransferWise partnership is due to be launched till the beginning of 2019. Once launched, the customers of the bank will be able to send money internationally at the standard charges of TransferWise via the bank’s app.
“Both TransferWise and BPCE are committed to offering the best possible service and the fairest deal to their customers and this collaboration is an important step in making that a reality for everyone”, says Kristo Käärmann, co-founder and CEO of TransferWise. He further adds, “TransferWise has a mission to make money move around the world as fast and as cheaply as email”. This partnership is indeed a big step in the company’s journey and it hopes to grow further with such great business avenues.