Wise

Wise, formerly TransferWise, is a financial technology company that moves and manages money internationally using the real mid-market exchange rate. Founded in 2011 by two friends who had grown tired of being, in their own account, overcharged by banks, the firm charges transparent fees rather than embedding a margin in the exchange rate. It now moves more than £14 billion a month across more than 160 countries and supports transfers in over 40 currencies.

The company's products comprise international money transfers, a multi-currency account in which customers can hold balances in more than 50 currencies, and a debit card that spends those balances worldwide. The accounts serve both individuals and businesses, and the underlying payments infrastructure is the company's own. Technical work spans cross-border payments, foreign exchange, multi-currency accounts and payments technology.

Wise operates globally, with GBP-based operations in the United Kingdom. Its stated ambition extends beyond fixing transfers to replacing international banking altogether; the culture is built around transparency, speed, low cost and a borderless view of how people and businesses actually live and work.