Thread by @kaarmann

1/ TransferWise’s 2019 Q2 quarterly ̶e̶a̶r̶n̶i̶n̶g̶s̶ mission report — our update to the 5m-strong customer base who trust us to move £4bn for them a month.

How much closer did we get to money without borders: instant, convenient, transparent, and eventually free?

👇thread👇

2/ Our US based borderless account holders now get a multi-currency debit card. 🇺🇸🚀

transferwise.com/us/blog/transf…

3/ Price.

We had to invest more than expected in our infra to keep scaling to more people and businesses. Mostly an AWS bill. 🙀

This meant that our costs went up — which also brought prices up. That's a step back on our mission.

4/ Speed.

Share of instant transfers is going up. 🏃‍♀️🏃‍♂️

These we deliver in less than 20 seconds to the recipient's bank account in a foreign country.

5/ 🇺🇦 It used to take 2 days for most transfers to reach banks in Ukraine.

In June we automated a process that used to need a manual review, by a human.

Most transfers to Ukraine are now instant, 24/7. 🔥
transferwise.com/gb/blog/instan…

6/ 🇺🇸🇨🇦 Getting money to US and Canadian accounts is far from instant and have to go through medieval payment systems. With the improvements this quarter we can do a good number of them under 6 hours against all odds.

7/ Convenience.

Getting TransferWise set up for international banking is now easier than ever.

60% of users onboard with automated identity verification - no need to wait until we check your docs.

8/ 🇬🇧You can pay with open banking. 🔌

Customers sending money from a UK bank account can now do it instantly and conveniently, right from their internet banking.

More than 20,000 people have already benefited from this.

9/ 🇺🇬 We’ve added another African nation to the list of countries you can send money to. Oli otya Uganda.

10/ For those receiving, converting and spending money on your borderless account in-app: we gave Android a makeover and made things a little simpler for you. 💚

(iOS is coming soon, too).

11/ 💳 Speaking of which, we’ve also simplified how you manage your card:

- You can order a new card and keep using your current one until it arrives.
- Card deliveries in the UK and Europe are now faster
- Things are safer than ever with 3D secure 🔐

12 Life’s also easier for businesses — you can manage access to the business account for employees. 🏢

If you haven’t already, you can sign up for the beta here 👇

transferwise.com/gb/blog/update…

13/ Transparency.

Twice a year, our team gets together to chat about how to become cheaper, faster, and more convenient; what’s holding us back, what needs to be done.

We call it Mission Days. 💪

This year, we live-streamed part of it for the first time facebook.com/transferwise/v…

14/ Can you give us a hand? Join us — we have 180 open roles right now.
transferwise.com/jobs

15/ 2019 Q2 mission update as a blog post.
transferwise.com/gb/blog/missio…