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TransferWise rebrands as plain old 'Wise'

TransferWise rebrands as plain old 'Wise'

TransferWise has rebranded as Wise, dropping the money-moving focus of its brand to reflect the wider array of banking products it now provides to customers.

"Our customers now need us for more than money transfers," explains Kristo Käärmann, co-founder and CEO. "Sending, spending, and receiving money internationally is too expensive, slow, and inconvenient. We’re fixing that for people and businesses."

TransferWise has long since moved from its roots as a sleek and simple alternative to the slow and expensive currency transmission services provided by banks. The firm now has a customer base of ten million users and offers a deeper suite of services, including a borderless bank account for itinerent professionals.

Last year, the company secured approval from the Financial Conduct Authority to beging offering savings and investment services to customers, which are expected to be rolled out in the coming months.

"Today our name catches up with who we’re already building for — a community of people and businesses with multi-currency lives," says Käärmann. "Wise is for all of us who live, work, travel, or support family around the world. It’s for those of us who want to cut out the middlemen that hold us back from being truly borderless."

Comments: (3)

Andrew Smith
Andrew Smith - RTGS & ClearBank - London 22 February, 2021, 10:26Be the first to give this comment the thumbs up 0 likes

Not sure i agree with this one. Transferwise is already a pretty well known name, but for those who are new to transferring money x-border, the name "wise" doesnt exactly tell me much. Doubt it will make any difference, positive of negative, but does beg the question, why?

Christopher Williams
Christopher Williams - RTpay - Winchester Uk 22 February, 2021, 10:271 like 1 like

I admire all that Transferwise has done as a company, including lowering costs for many remittances, so I am surprised they make this change. They seem to be very smart guys who run it, but having got a very good brand name that works, moving to a confusing name seems rather 'unwise' to me.  

A Finextra member
A Finextra member 22 February, 2021, 10:42Be the first to give this comment the thumbs up 0 likes I like (love) this company. Awesome customer service. Wise should have crypto and stock like Revolut. No bullshit like Revolut. You have on average 2 days to get a response. This is a total jerk off to the customer. As a extensive traveler Wise is the WISE way to go! The most customer centric fintech out there bar none. It’s too bad that Wise doesn’t get more credit for being so customer focused. Remember! Amazon is a customer focused company. There success says it all. Jeff’s mantra has always been; the customer first! This is why Wise will kill the competition. Hands down!