The decision by the tech firm means that banks and businesses are now able to gain access to the same platform as TransferWise’s clients enabling direct low-cost transfers.
According to TransferWise the decision to open the API was to allow teams to build upon the API themselves, rather than wait for the team at TransferWise.
Currently, banks like UK neobanks Monzo as well as firms like Hubstaff and Retnify are using TransferWise API to power their transfers.
The API sandbox is readily available to businesses that will allow them to start testing and building and going live is as simple as getting a live API token from TransferWise.
Eliot Hastie is a journalist on the wealth titles at Momentum Media.
Eliot joined the team in 2018 having previously written on Real Estate Business with Momentum Media as well.
Eliot graduated from the University of Westminster, UK with a Bachelor of Arts (Journalism).