Genesis Global vs. Wise

When you need a quickly develop an application aligned with capital market standards, Genesis platform is highly recommended. Moreover, it offers an extensive catalog of web components that can be customized to meet the unique UX requirements for each company. The platform can be used to replace legacy systems built with outdated open source frameworks. This process can be challenging, but it is no impossible to accomplish.

For a small business looking to expand internationally, transferwise offers lower admin fee and no hidden fee which is very important. It also remove the hassle and headache of setting up accounts with the local banks. Other than the low fees, the best part is we can use transferwise safely with a peace of mind as it is being regulated by the MAS. Lastly, any small business can set up their transferwise account within minutes which is very convenient

Incentivized

• Quick - because funds are transferred domestically, even when going international, you don't have to wait long.
• Easy - the printout of what information I needed to give the sending bank was complete and easy to understand.
• Affordable - the fees on both ends were minimal.

Incentivized

• For large money transfers, the tax is a bit expensive so it would be nice if that was adjusted or if there was some economy of scale.
• Ability to schedule recurring transfers could be useful.
• Be able to transfer money by using a mobile phone number, like with Mobile Pay or Bizum, when the sender and receiver of the money are in different countries.

Incentivized

There are numerous resources available to new joiners to enhance their onboarding experience, including Genesis Academy and comprehensive documentation. You have an extensive catalog of web components, making front-end and back-end integration straightforward in many scenarios. Additionally, with the Genesis plugins for IDEs, developers can easily create or integrate components. I highly recommend taking the developer courses, as they provide a better understanding of the platform and will save time in the future. The support and platform team is quite remarkable, with extensive experience in capital markets applications.

We haven't really had to engage with TransferWise support. The platform is simple and easy to use.

Incentivized

We considered PayPal payment, ACH bank transfer, and simply mailing a check. TransferWise's fees were much lower than PayPal and our bank. Postage might have been less than TransferWise's fee, but payment could have taken more than a week rather than hours (or days in the case of a new payee).

Incentivized

• We can save around 5% on our transfer fees
• The online account management is easier than going into banks personally
• There's no negative impact...