Wise, the global financial technology company, has on Thursday announced the expansion of its Singapore office, key leadership hires, and product innovations, reinforcing its commitment to Singapore.

Wise said in a statement that the recently expanded office space in Paya Lebar Quarter, now spanning 23,000 square feet, is Wise’s Asia Pacific (APAC) hub where 450 empowered Wisers work – more than double the number of employees in 2022.

With the continued growth of teams building products and servicing millions of customers across APAC, Wise has appointed a senior leadership team in Singapore.

These include Shrawan (SK) Saraogi (APAC Head of Expansion and Singapore Country Manager); Mike Truong (APAC Product Director), Erin Smith (Product Director, Global Spend); Ser-Jin Lee (APAC Compliance Director); Samarth Bansal (APAC General Manager, Wise Platform).

These additions further bolster the existing local team leads, which includes Surendra Chaplot (Head of Global Product), Smrithi Ravi (APAC Engineering Lead), Amelia Bones (APAC Regional Customer Support Lead), Iti Kanter (APAC Head of Due Diligence), Isabel Audrey Lim (APAC Payment Operations Area Lead), Elyza Telog (APAC People Operations Lead), Heather Ong (APAC Head of Legal).

It is noted that Wise’s customer base in Singapore has grown 26 percent year-on-year.

The firm’s local product and engineering team has also expanded over a third since 2022.

A dedicated local team has been created to lead the design, build and implementation of a world-class cross-border spending experience through the Wise debit card, direct from Singapore, for Wise personal and business customers globally.

According to the statement, more than four million Wise personal and business cards have been issued across 42 countries.

Wise has also on Thursday announced it has directly connected to Singapore’s PayNow network, which will enable Wise to offer a feature for tourists and visitors to easily make QR payments in Singapore directly through the Wise app across thousands of merchants.

This will directly benefit local businesses such as hawkers who don’t typically accept card payments while allowing visitors to enjoy a quintessential Singapore experience — a plate of char kway teow with a side of QR code convenience.

With this integration, Singapore becomes the first country where Wise has integrated directly to two local payment systems, following on from its first integration to FAST in 2022.

These integrations will allow Wise to bring more seamless payment experiences for customers.

The company has also expanded more broadly in the region.

It is noted that Wise Platform, Wise’s infrastructure offer for banks, enterprises and fintechs, went live with Hong Kong’s Mox to launch simple and transparent international payments for Mox’s customers.

Tiger Brokers has also expanded its partnership with Wise to launch debit cards for their customers in Singapore.

“Wise has grown significantly in Singapore from when we first entered eight years ago, to now becoming our ever-growing hub for the Asia Pacific region,” said Isabel Naidoo, Chief People Officer, Wise.

According to her, Singapore’s status as a global hub for fintech innovation and access to a diverse talent pool makes the city a perfect location for our growth.

“I’m thrilled to welcome SK, Mike, Erin, Ser-Jin and Samarth onboard Wise as we deepen our commitment and footprint in Singapore and continue expanding across APAC, A

“All of them bring rich experiences that will help us deliver on our mission of building the best way to move and manage the world’s money,” he added.

Ms Elaine Teo, Senior Vice President, Global Enterprises Division, Singapore Economic Development Board, said that Wise’s decision to strengthen its hub in Singapore with new senior leadership roles and product innovation teams is testament to Singapore’s attractiveness as a global business hub.

The company’s expansion is a welcome addition to our vibrant fintech and innovation ecosystem, and will create exciting job opportunities here,

“We look forward to Wise’s continued growth in the region,” she added.

Co-founded by Kristo Käärmann and Taavet Hinrikus, Wise launched in 2011 under its original name TransferWise.

The firm is listed on the London Stock Exchange. 10 million people and businesses use Wise, which processes over £10 billion ($12.73 billion) in cross-border transactions every month.

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