145. Insights - Transferwise Takeover

41min listen

This week, we’re recording from the Transferwise office in Shoreditch Highstreet, a stone’s throw from our home in WeWork, Aldgate, to hear the Transferwise story.

Jason and Simon are joined by Erik Edin, Product Manager in the Business Team, helping businesses to send money abroad; Helena Jaramillo, Product Designer, focussing on first-time customer experiences; Jeremy Buttner, Borderless Banking Lead; and Steve Naudé, Head of Middle East and Africa Banking, bringing the Transferwise experience to customers.

We hear how Transferwise serve their customers, who their customers are, and how they’ve created a transparent charging structure for sending money abroad. Plus, why Transferwise see themselves as a financial company, and how they work with banks around the world.

We also hear how securing direct access to the Faster Payments System (FPS) in the UK allowed Transferwise to create the best customer experience, and how working with the regulator in Singapore to enable online KYC.

Transferwise talk us through their approach to marketing, and why transparency is so important (they’ll tell their customers when a competitor is cheaper!). Plus, the team explain the importance of partnerships in helping other firms get to grips with PSD2 and open banking.

We also discuss future products, phase two of Transferwise and focussing on their niche. Plus, the Transferwise view on cryptocurrencies and the why it’s important to engage legal and compliance from the get-go.

We hope you're enjoying the show - don't forget to subscribe so you never miss an episode, and we'd also love it if you could leave us a review on iTunes! Get in touch at podcasts@11fs.com or on Twitter @FintechInsiders and follow us on Facebook.

Special Guests: Erik Edin, Helena Jaramillo, Jeremy Buttner , and Steve Naudé.

We are 11:FS

We believe digital financial services are 1% finished. We’re building the next 99%.

What we do

11:FS builds next-generation propositions for challengers in the financial services industry: existing firms looking to innovate, start-ups looking to scale, and everyone in between.