Ep. 145. Insights - Transferwise Takeover

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.

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