Modernizing International Remittances: IndusInd Bank Partners with Wise Platform for Seamless NRI Money Transfers

June 20, 2023

Image Credit: Other

Modernizing International Remittances: IndusInd Bank Partners with Wise Platform for Seamless NRI Money Transfers

Wise Platform, a global money transfer service, has secured its first bank integration in India with IndusInd Bank. The integration is aimed at enabling non-resident Indians (NRIs) living abroad to make international payments seamlessly into India. This partnership marks a major milestone for Wise Platform in India, as it provides its customers with access to a comprehensive solution for transparent, fast, and inexpensive transfers to India.

Integration Details: Powered by the Wise Platform’s APIs

Powered by Wise Platform’s APIs, IndusInd Bank’s NRI customers can now send money from USD and SGD to recipients in India without being subjected to exchange rate markups. Customers get access to “lightning-fast” transactions and full visibility over their payment status and estimated arrival time – all entirely online. With this integration, Wise aims to improve the customer experience by providing real-time status updates and enabling customers to easily access transparent information about costs and exchange rates for their transfers.

Remittances to India and the NRI Population

According to the World Bank, remittances to India hit $100 billion in 2020, making it the largest recipient of remittances in the world. The NRI population stands at 13.4 million, with 1.28 million residing in the US. As such, the integration of Wise Platform’s APIs by IndusInd Bank is a major development for the NRI community.

IndusInd Bank’s Perspective

Soumitra Sen, Head of Consumer Banking and Marketing at IndusInd Bank, expressed his excitement about the partnership, stating that “We believe that this proposition will witness substantial traction amongst NRIs and provide them with a comprehensive solution for seamless transfers to India.” He also added that IndusInd Bank is committed to providing innovative solutions to customers and partnering with Wise Platform was a perfect fit. Rashmi Satpute, the Country Manager for India at Wise, emphasizes the significance of the launch. “After we started transfers from India in 2021, we are excited to double down on our commitment here and introduce the Wise Platform to India with IndusInd Bank as our first partner.” She also mentioned that this integration is a notable milestone for the Wise Platform as it expands its reach in the country while continuing to develop into a global service.

Common Goal: Modernizing the Global Financial System

The partnership between IndusInd Bank and Wise Platform shares a common vision of modernizing the global financial system. The partnership aims to provide a comprehensive solution for seamless transfers to India at inexpensive, fast, and transparent costs to millions of NRIs abroad.

The Wise-IndusInd partnership for international payments to India is a significant milestone in the efforts to modernize the global financial system. With the use of Wise Platform’s APIs, customers can expect seamless transactions with no exchange rate markups and full visibility of their payment status and estimated arrival time. With IndusInd Bank’s integration, Wise Platform continues to expand its footprint in India, promising its customers fast and reliable money transfer services.

Explore more

Is Embedded Finance the New Future of Brand-Integrated Banking?

September 9, 2026

Specialists like Adyen and Block provide the essential digital rails that allow non-bank brands to function as financial hubs for millions of global users every day. The classic architecture of personal finance is being completely dismantled as the barrier between commerce and banking dissolves into the background of the daily user experience. No longer confined to the sterile environments of

How Will Odoo 20 Transform Mexico’s Digital ERP Landscape?

September 9, 2026

The Mexican enterprise customer base for Odoo grew by 51 percent in 2024, signaling a massive shift toward consolidated business management software. This rapid expansion reflects a broader evolution in the local commercial environment, where organizations are increasingly abandoning the patchwork of disconnected applications that once defined their administrative workflows. By transitioning to a unified platform, these companies are effectively

Why Should You Replace Cloud Apps With Local Linux Tools?

September 9, 2026

Processing high-resolution images locally using a discrete GPU offers a more immediate and private result than waiting for remote machine-learning models to return processed data. This movement toward a local-first computing model represents a strategic reclamation of digital sovereignty, where the power of modern processors is finally being utilized to serve the individual rather than the data-harvesting algorithms of large

South African Payment Managers Take on Strategic Roles

September 9, 2026

The South African financial landscape has undergone a radical transformation where the role of the payment manager is no longer confined to the basement of operations. The historical focus on handling service escalations has been replaced by a need for technical fluency and deep understanding of the payment lifecycle. As 2026 progresses, these professionals are finding themselves at the center

How Poor Onboarding Processes Stifle Employee Potential

September 9, 2026

When companies prioritize excessive documentation over human connection and mentorship, they inadvertently create a culture of confusion and long-term inefficiency. This initial phase of employment is theoretically designed to integrate a professional into a new environment, but it frequently dissolves into a frantic scramble through digital portals and legal fine print. Instead of engaging with the nuances of their new