The Ledger, every show
Every statement that passed quotation and attribution checks, across all 44 shows. Pick shows below, then mix any filter with any other.
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every show 44 of 44
Western Union's high margins allow them to outspend Wise on search marketing
“Western Union is like seven to eight times more expensive than WISE. So they could spend seven to eight times more than us on marketing. And therefore there's no way we would ever be able to compete on those SEM key head terms.”
Peiris: Wise halved marketing spend and lost only 1% of revenue
“We became profitable in about six to nine months, and there was only one cost we changed to get there, Which was our marketing spend. And I think I've shared this publicly before, and this is about four years ago. We halved our marketing spend. We dropped 10% …”
Wise CPO predicts AI will eventually eliminate human oversight in workflows
“You can kind of see how it gets to the point that, that, that human, that person will also not be needed in a while as well.”
Wise charges a 0.3% fee compared to 6% at traditional banks
“Banks are at six percent. We're at .3 in most markets.”
Wise predicts majority of customers will use bank integrations within 5-10 years
“In a five to 10 year period, the majority of our customers won't be using our apps. They'll be in banks.”
Wise consumer app has captured 10% to 20% of major UK banks' volume
“Our consumer business has taken something like between 10 to 20% of some of the major banks in the UK's volume.”
Wise attributes 70% of its new user acquisition to word of mouth
“We acquired 70% of the users that found out about Wise last month through word of mouth. So, contextually, we have sixteen million customers, and we're acquiring about a million a quarter about ten million actives, and yes, and a million that joined Wise the f…”
Wise found referral rates doubled at each step up the NPS scale
“When we overlaid the referral data over the NPS survey data, we saw something really interesting. Very low invite rates at one to six, and not just invite conversion rates of users that joined for invites. But when you've got people from six to the seven and e…”
Wise maintains unit profitability on every single individual transaction it processes
“We've been profitable for five years. And then one of the magical things here was like we're actually profitable on every transaction.”
Wise pays 5% yield by dynamically liquidating government bonds at card spend
“So we now put customers' money in government bonds, US bonds, and when you pay with your card, it dynamically sells those bonds. And that's how we give you an interest rate in like around about five percent right now, given where bond rates are.”
Wise maintains a 70/30 split between word of mouth and paid acquisition
“It's about 30% of The 1.5 million customers we acquired last quarter came in through paid, about 70% came in through word of mouth. And if you went back 1012 years, it was about 30% through paid, 70% through word of mouth.”
Only 10 to 15% of Remittance Customers Search Google Before Transferring
“There's still a bunch of the market, not much, so I'd say about 10, 15% of the market, that will Google before they send money.”
Wise processes roughly £60 billion in instant cross-border transfers
“So we're moving about sixty billion pounds instantly from one side of the world to another, and that is the kind of experience to get people talking about it.”
Wise Saw 3-4x Higher Recommendation Rate After Adding Savings Graph
“We saw, like, I think it was a three to four x increase in our recommendation rate off the back of that.”
Wise targets 12 to 24 month payback on new initiatives
“We look for payback generally within 12 to 24 months, so you look at the costs, how much would it cost, and then you can work backwards to what that is.”
Wise powers Google Wallet, Stripe, and most global neobanks
“Most of the near banks in the world use WISE. Google Wallet is powered by WISE, Stripe uses so platforms use us too”
Wise asks product candidates at all levels if they've personally coded or designed
“The two ones I ask are obviously a product one of talk me through an example of where you've been hands-on in building something. And then I always explain, when I say hands-on, I mean, you ended up having to code it. You had to design it, you had to write the…”
Peiris: Wise uses LLMs to fully automate certain operational tasks
“We have big operational teams. We already use LLMs to augment those teams. Some places LLMs automate a hundred percent some of those tasks.”
Wise moves $12B monthly and grows 30-40% year-over-year
“So today we're now moving about twelve billion dollars a month, growing at between 30 to 40% year on year.”
Wise has been profitable for over four years with 20% EBITDA margins
“And we've been profitable for about more than four years now with 20% EBITDA margins”
Wise maintains a 70% Net Promoter Score, outperforming iPhone and Google
“So IPS is 70%. So it's really, really high. So it's kind of higher than the iPhone and Google, Google search.”
Wise's most effective acquisition campaign was simply emailing customers its core mission
“And we wrote our mission and sent it to our customers. We got more new customers from that email being forwarded around than any other kind of marketing.”
Wise currently holds approximately $12.5 billion in customer deposits
“Because we got like about 12 and a half billion dollars in deposits now, which is like a time.”
Wise spent years lobbying to secure direct settlement accounts at central banks
“We now have a bank account at the Bank of England, the National Bank of Singapore, Bank of Australia. And each of these was like as hard as, you know, getting that face-to-face verification thing in Singapore. It took like years of lobbying and all kinds of st…”
Showing post-transfer fee comparison graphs tripled Wise's customer referral sharing rate
“Yeah. That's really the sharing rate. When, so we always had the share button after you completed a transfer, but putting that there with this graph.”
Wise had zero customers when CPO Nilan Peiris first joined as advisor
“Yeah, so I met them, you'll enjoy this. I got introduced to them by an angel who I had helped previously, and he said, you gotta meet these guys. They're just two of them. They have a great product. They have no customers and they definitely need someone like …”
Peiris: Consumer cross-border flows total $1T and SMB flows $10T
“So it's like about a trillion in terms of cross-border flows for consumer, about 10 trillion for SMB.”
Wise built web pages and calculators for every bank BIC and IBAN code
“So obviously if you search for a BIC or an IBAN code, you'll find wise there because we've built pages on every BIC and IBAN code. We bought and built our own BIC calculator and IBAN calculator and converters so that you can look up your own banks, BIC and IBA…”
Wise allows customers to hold cash in government bonds earning 3-5%
“Wise, we offer this to our own customers as well. So in WISE, you can, in the WISE account, you can push one button and hold all of your cash in government bonds. And that means you'll get a three to five percent interest rate.”
Wise charges an average take rate of about 0.65% across routes
“We take about .65% on average across all our routes as price.”
Wise measures word-of-mouth growth by overlaying survey responses onto traffic data
“So we have an attribution model, as you can imagine, and we've had one from the early days and it overlays all the kind of cookie the referrer data and cookie data you have on, on visits coming to the website. So you kind of know that. And then you obviously h…”
The average Net Promoter Score across traditional banking is negative 30
“So instead of in context, like banks and financial services, NPS is -30, right? So most people don't recommend their banks, right?”
Wise secured Singapore's first e-KYC license after a year of unscalable lobbying
“It took a year of lobbying and a year of like building, like doing something unscalable effectively before we got the world's first EKYC license in Singapore.”
Launching the Wise Account feature drove 20% to 30% more cross-border volume
“And we found that that we got about, like, as we launched the accounting markets, it was about, you know, like a 20 to 30% more volume, cross-border volume coming through, coming into wise from that market.”
Peiris: Wise's First Unknown Customers Came From Launch-Day TechCrunch Article
“Our first customers came from, ah, and the day we launched WISE was when the TechCrunch Blog post went up, and our TechCrunch, first TechCrunch interview happened, and I remember it, and then we, the post went out, and then you saw the first customer that we d…”