MBSB Bank Launches GET – Global Easy Transfer, Inks Historic Partnership With Wise For Cross-Border Payment Transformation

Positive India:26 September 2025:
In a major leap forward for Malaysia’s financial landscape, MBSB Bank Berhad has unveiled GET, a cutting-edge international remittance service launched in collaboration with Wise, the global fintech innovator known for revolutionising cross-border payments.

This marks a major milestone, as MBSB Bank becomes the first bank in Malaysia to integrate with Wise Platform, the global infrastructure powering international payments for banks and enterprises worldwide. Through this partnership, account holders can now send money abroad seamlessly, quickly, and transparently from the bank’s M Journey retail banking app. This initiative is in line with MBSB’s resolve to offering innovative, customer-centric financial solutions, with ECS Fin as its key Fintech partner in enabling a seamless and accelerated integration of the cross-border payments module.

To quote Dr. Jacob Aruldhas, CEO of ECS Fin: “Being an integral part of MBSB’s growth and expansion journey since February 24, 2021, has been a privilege for ECS Fin”GET is engineered to eliminate the long-standing pain points faced by Malaysians: concealed charges, high latency, vague exchange rates, and lack of visibility. At launch, users can now transfer funds in 12 major currencies, including USD, GBP, EUR, SGD, IDR, AUD, and more, with real-time tracking, competitive exchange rates, and no hidden markups.

At the forefront of this forward-looking transformation is Group CEO Rafe Haneef, whose stewardship reflects a solid determination to delivering real value to stakeholders while uplifting the capabilities of the bank. Since his appointment on 1 July last year, following the RM1.01 billion merger between MBSB Bank and Malaysian Industrial Development Finance Bhd (MIDF), Rafe Haneef has demonstrated a rare synergy of vision, efficiency, and empathy. His stewardship appears almost destined, marked by his ability to inspire trust, empower colleagues, and consistently act in the best interests of both the bank and its clients. Under his guidance, MBSB continues to position itself as a bank that serves with impact, both at home and beyond borders.

Also, with Rafe Haneef at the helm MBSB is all set to scale greater heights for he is widely respected for his ethics, forward-thinking vision, and enterprising approach to Islamic finance. A scholar, sportsman, and gentleman shaped by the ethos of Victoria Institution and further honed by academic excellence at the International Islamic University Malaysia and Harvard Law School, he brings with him a wealth of global experience and integrity. From his early days practicing Islamic finance law to leading landmark Sukuk transactions across sovereigns and multinationals, Rafe has consistently demonstrated a unique blend of innovation and principled execution. His leadership roles at global institutions such as HSBC, Citigroup, ABN AMRO, and CIMB have been marked by a dedication to sustainability, inclusion, and strategic growth. With such a remarkable track record, MBSB Bank is indeed fortunate to have a leader who is not only driving transformation but doing so with purpose and values deeply aligned with the future of responsible banking

Commenting on the launch, Rafe Haneef, Group Chief Executive Officer of MBSB Bank, said: “With GET, we are giving families, professionals, and business owners the confidence to send money abroad knowing exactly how much will arrive and when. This is what customer-first innovation looks like. Our goal is to remove doubt and deliver clarity backed by technology, transparency, and trust.”

According to Usman Ghouse, Group Chief Consumer Banking Officer of MBSB Bank: “Remitting money should not be ambiguous. GET was designed to address the real frustrations such as extensive delays, undisclosed fees, and lack of clarity. This partnership with Wise Platform is about offering world-class capability with local accountability.”

Global Easy Transfer is now available on the M Journey app for existing MBSB Bank clients, with an ongoing zero transfer fee campaign during the introductory phase. With high transaction limits of up to RM100,000 per day, users can now send substantial sums quickly, securely, and without additional charges. With M Journey, MBSB is turning international money transfers into a frictionless experience. It is not just a feature; it’s financial freedom, simplified. Given MBSB’s 75 years of legacy as a pillar of Malaysia’s financial services industry, this bold move comes as no surprise. MBSB (formerly Malaysia Building Society Berhad) has long played a pivotal role in the nation’s economic development and is the financial holding company of MBSB Bank Berhad, a progressive Islamic bank, and Malaysian Industrial Development Finance Berhad (MIDF), a specialist in investment banking, development finance, and asset management. When innovation emerges from an institution like MBSB, it carries both substance and credibility.

Thanks to Wise Platform, banks and businesses can now embed the most efficient and transparent way to send, receive, and manage international payments directly into their systems. With its global partner network and real-time capabilities, Wise saves both time and money by bringing clarity, speed, and fairness to a space often plagued by confusion.

Samarth Bansal, APAC General Manager at Wise Platform said:“This partnership with MBSB Bank represents a significant milestone for Wise Platform -our first collaboration in Malaysia, enabling at least 22 million individuals in Malaysia to send money in a fast, secure, transparent and convenient way. With local payments in Malaysia and other parts of Asia Pacific being instant, customers now expect the same from cross-border transfers. We are excited to partner with MBSB to redefine cross-border payments and make international transfers as fast and convenient as domestic ones. MBSB Bank’s commitment to customer-first innovation aligns perfectly with our mission, and together we’re setting a new standard for cross-border payments in Malaysian banking.”

Wise is not just a cross-border payment provider, it’s a game-changer. And partnering with Wise was a WISE move by MBSB to solve real pain points by offering practical, inclusive solutions that reflect how Malaysians live, work, and connect globally.