Wise, a Techstars NYC 2019 company, offers small businesses with next generation banking and payments services on one, easy-to-use web, tablet and mobile app, so they can get things done wherever they might be
Wise is on a mission to empower small businesses to support their growth, and believes they should be able to pay contractors, vendors and employees, and accept payments from customers instantly. Wise’s dashboard allows companies to track spending, cash flow and make real-time payments to debit cards*, all in one place, enabling them to focus on growing their businesses.
Wise was founded in 2018 to meet the specific banking and payment needs of the 28 million small businesses in the U.S. that are largely overlooked by traditional banks. To achieve this, Wise needed a Banking as a Service provider, and considered eight different companies. Wise chose BBVA because its key APIs, Move Money, Account Origination, Card Issuance and Identity Verification, exactly mirrored the services that Wise wanted to offer customers, and it was the only provider that offered all these services for business customers, as well as individual consumers. Wise also found that their customers recognized and trusted the BBVA name, and wanted to build on a platform and banking brand with a proven track record for stability and reliability.
In three short months, Wise completed BBVA entire onboarding process, including technology integration and compliance review, working closely with BBVA’s Client Integration Team to ensure that every day brought significant progress. Wise also worked with the support team on a daily basis, testing and building on BBVA APIs in the sandbox.
Wise went live in July of 2019, and now offers a small business banking experience, built on BBVA full suite of compliant APIs, to all of its customers, under its own brand. Since then, it has been continuously onboarding companies and aims to increase its customer base exponentially. As BBVA expands its APIs, Wise plans to introduce new products to continue offering unique, cutting-edge services to its customers. Wise believes that its ongoing collaboration with BBVA will enable it to become the one-stop shop for small business banking.
*Actual fund availability varies by financial institution and region.
Wise is thrilled to collaborate with BBVA. It allows us to offer a best-in-class banking experience to millions of small businesses in America.
Co-founder and CEO, Wise.
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