TransferWise rebrands as Wise – to open new Singapore office space and plans to hire more than 70 employees

TransferWise is renaming to Sensible and is strengthening its Asia Pacific presence with the enlargement of its workplace in Singapore.

Initially launched in 2011 as a cash switch service for individuals, the corporate has expanded to construct a cross-border funds community serving to to make worldwide banking cheaper, sooner and extra nice for its 10 million private and enterprise clients.

Sensible is now house to a few merchandise, with cash transfers being the foundational characteristic of the Sensible account:

1. Sensible – constructing the world’s most worldwide account. Ship and spend cash internationally, maintain cash in 55 currencies and get actual account numbers in 9 currencies. Prospects now maintain over £3 billion (S$5bn) in Sensible, with 1.4 million debit playing cards issued.
2. Sensible Enterprise – the enterprise account for going international, it has all of the options of the private account plus extras like financial institution feeds, mass payouts and multi-user entry. Over 150,000 companies joined Sensible within the final 12 months. Sensible Enterprise is utilized by Singapore firms like Electric8, Ksisters, Omnidesk and SLEEK.
3. Sensible Platform – the platform banks and firms like Monzo, Xero and Aspire use to faucet into the Sensible infrastructure, giving their clients cheaper, sooner funds and worldwide banking options. Sensible Platform is reside with banks in 10 nations throughout 4 continents.

Sensible additionally goals to strengthen its international footprint in Asia Pacific with the opening of its new, bigger workplace house situated in Singapore and headcount enlargement plans.

Over 70 individuals shall be employed in Singapore in 2021 for roles together with enlargement, engineering, product and operations. This expanded presence permits Sensible to raised serve regional customers, companies and financial institution companions and drive enterprise development into new markets.

Positioned at PLQ 2, the brand new workplace is designed to create a conducive setting with areas to go well with completely different working types and desires. Areas embrace a nursing room, personal prayer house, nap rooms and leisure zones.

From right this moment, clients can go for the corporate’s new web site. The ultimate switchover for all clients to the Sensible model will happen in March 2021.