Morgan Stanley partners with Wise to boost FX settlements

Morgan Stanley has selected Wise Platform to enhance its foreign exchange international settlement capabilities for corporate clients.

The collaboration will enable Morgan Stanley to offer high-speed cross-border settlements through Wise Platform, Wise's global payments infrastructure. This marks Morgan Stanley as the first investment bank to implement these capabilities with Wise Platform, aiming to refine its transactional services for corporate and institutional clients.

Samer Oweida, Global Head of Foreign Exchange and Emerging Markets at Morgan Stanley, stated, "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."

The integration is set to complement Morgan Stanley's existing suite of transactional foreign exchange services, allowing the firm to focus on serving its sophisticated client base and reducing implementation timelines. By leveraging Wise's technology and local connectivity, Morgan Stanley aims to enhance its payment operations.

Steve Naudé, Managing Director at Wise Platform, expressed, "This relationship marks a significant milestone in the growing number of trusted global banks that are choosing to power their cross-border payments through Wise Platform. Morgan Stanley has a strong and clear payments vision for the experiences and solutions they want to offer their customers, and we're thrilled to be working with them to enable their corporate payment capabilities and bring fast, cost-effective, transparent and easy payments to Morgan Stanley's clients."

Wise Platform collaborates with leading banks, financial institutions, and businesses worldwide to facilitate international payments utilising its global infrastructure. A reported 63% of Wise's cross-border payments are completed instantly, in under 20 seconds, facilitated by 65 licences and six direct connections to payment systems.

With a robust global engineering team and dedicated specialists in implementation, compliance, and round-the-clock support, Wise Platform ensures seamless and secure integration for its partners. The collaboration with Morgan Stanley highlights Wise's commitment to providing comprehensive payment solutions internationally.

Over the past 14 years, Wise has developed a network designed to tackle the complexities of cross-border financial transactions. The partnership with Morgan Stanley underscores the reliability and efficiency of Wise's infrastructure and network, built painstakingly over more than a decade.