FinTech Is Scaling Up: UK Banks to Enable International Remittances in Mobile App Using TransferWise’s API

Moving around $778 million internationally every month, TransferWise is turning out to be the next FinTech startup to partner with banks to provide its services to the banking customers via a bank’s mobile app. Until now, the company has taken more than 2% of the London global remittance market over a period of four years since its launch. Banks charge high fees for sending money internationally, but with TransferWise, anyone can send more at a fair rate. The pricing is transparent and the exchange rate is real. The small fee is easy to spot as well.

We recently included TransferWise in our FinTech unicorns ...

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