In the latest episode of DigFin VOX, host James DiBiasio sits down with SK Saraogi, the Head of Growth at Wise in Asia, to discuss the company’s expansion in the region. Wise, formerly known as TransferWise, is a financial technology company that specializes in international money transfers and currency exchange.
Saraogi begins by providing some background on Wise and its mission to make international money transfers more transparent and affordable for consumers. The company was founded in 2011 by Taavet Hinrikus and Kristo Käärmann, two Estonian entrepreneurs who were frustrated by the high fees and hidden charges associated with traditional banks when sending money abroad.
Since its inception, Wise has grown rapidly and now serves over 10 million customers worldwide. The company has disrupted the traditional banking industry by offering a more cost-effective and efficient way to transfer money across borders. Wise’s platform allows users to send money at the real exchange rate with low, transparent fees, saving them significant amounts of money compared to using traditional banks.
Saraogi explains that Wise has seen tremendous growth in Asia, with the region accounting for a significant portion of its customer base. He attributes this success to the increasing demand for cross-border payments in Asia, driven by factors such as globalization, e-commerce, and the rise of digital nomads. Wise has established a strong presence in key Asian markets such as Singapore, Hong Kong, Japan, and Malaysia, and continues to expand its reach across the region.
Saraogi also discusses some of the challenges and opportunities that Wise faces in Asia. He highlights the importance of building trust with customers in a region where financial services are highly regulated and competitive. Wise has invested heavily in compliance and security measures to ensure that its platform is safe and reliable for users.
Looking ahead, Saraogi is optimistic about Wise’s growth prospects in Asia. He believes that the company’s focus on customer-centricity and innovation will continue to drive its success in the region. As more people in Asia seek convenient and affordable ways to send money internationally, Wise is well-positioned to meet their needs and become a trusted partner for cross-border payments.
Overall, the conversation with SK Saraogi on DigFin VOX sheds light on Wise’s impressive growth in Asia and its commitment to revolutionizing the way people transfer money globally. With its customer-centric approach and innovative technology, Wise is poised to continue its expansion and make a lasting impact on the financial services industry in the region.
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