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."