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Wise cashes in on rising interest rates![img](/img/external-link.svg)
Wise lifted its full-year profit guidance thanks to booming customer numbers and higher interest income on customer balances. London-listed fintech firm closed up 4½p, or 0.6 per cent, to 724½p after the second-quarter update.
Fed warned Goldman's fintech unit on risk, compliance oversight -FT![img](/img/external-link.svg)
The Fed has raised issues including insufficient due diligence and monitoring processes by the Goldman division. The team targeted by the regulator provides banking infrastructure to fintech clients including payment start-ups Stripe and Wise.
Remittances Saw Promise This Earnings Season – But Will It Last?![img](/img/external-link.svg)
All the major publicly traded remittance companies reported positive year-on-year growth. Intermex, Remitly and Wise all saw growth of over 20%. For Western Union it represents the first quarter since 2021 where the company has seen its revenues rise above the previous year’s numbers.
Family lose life savings with one simple mistake transferring huge sum of money on Wise platform to...![img](/img/external-link.svg)
Stephen Tibbs, who has stage four brain cancer, wanted to transfer his pension in the UK to help pay off his Australian mortgage so that his wife and three boys are not left with debts. But after transferring almost $200,00 through the platform Wise to their own account a couple of months ago, they could find no trace of the money. All due to one digit wrong in bank-identifying number.
Here's Why Wise (LON:WISE) Has Caught The Eye Of Investors![img](/img/external-link.svg)
Wise has achieved impressive annual EPS growth of 45%, compound, over the last three years. Top-line growth is a great indicator that growth is sustainable, and combined with a high earnings before interest and taxation (EBIT) margin, it's a great way for a company to maintain a competitive advantage in the market. We would not expect to see insiders owning a large percentage of a UK£7.8b company like Wise. But thanks to their investment in the company, there are still incentives to align their actions with the shareholders.
Rising interest rates push up Wise profits by £5m a week![img](/img/external-link.svg)
Net interest income grew to £71.4 million in the three months to June. A year earlier, Wise made just £1.2 million in net interest from client balances.
Wise boss has no regrets about listing on the London stock market![img](/img/external-link.svg)
Wise achieved an £8billion valuation in 2021 when it became London’s biggest-ever tech listing. But it is now worth £6.9billion. Chancellor Jeremy Hunt unveiled plans to make the UK a more attractive place to grow and retain start-ups.
London fintech champion Wise cashes in on rising interest rates![img](/img/external-link.svg)
Interest income reached £118m in the year to March 31, up from a slight loss last year. This accounted for almost all the £146.5m in annual profits reported by Wise. Shares in the company rose by more than 16pc on Tuesday.
London fintech champion cashes in on rising interest rates![img](/img/external-link.svg)
Interest income reached £118m in the year to March 31, up from a slight loss last year. This accounted for almost all the £146.5m in annual profits reported by Wise. Shares in the company rose by more than 16pc on Tuesday, although they remain 23pc below the price at which the company floated two years ago.
Wise profits treble as CAB Payments confirms plans to list on the LSE![img](/img/external-link.svg)
Wise, which specialises in international money transfers, posted a profit of £146.5million for the year to the end of March, up from £43.9million in 2022. CAB Payments revealed that its shares would list on the London market next Thursday with a projected value of around £851million.
Wise Braces for Slowdown After Bumper Year: The London Rush![img](/img/external-link.svg)
Cross-border payments company Wise expects to deliver total income growth of as much as 33% in fiscal 2024. A lower volume per customer trend that is likely to persist in coming months.
Wise shares spike 18% as higher interest rates help fintech triple profits![img](/img/external-link.svg)
Wise's profit before tax tripled to £146.5 million. Earnings per share also more than tripled, to 11.53 pence. Company saw customer growth of 34%, with 10 million users by March 31, 2023.
London stock markets edge higher![img](/img/external-link.svg)
FTSE 100 rose 4 points, or 0.05 per cent, to 7,457.53. The more UK-focused FTSE 250 gained 23 points to 17,998.54. Wise's shares jumped by almost a fifth, or 96.4p, to 621.83p.
How to save money when paying for overseas holiday bookings![img](/img/external-link.svg)
The basis for determining what you pay, and how much the Australian dollar is worth against any foreign currency, is the interbank rate. To send a transfer of €1000 will cost $1638.41using Wise. The cost of making a €1000 transfer is $1639.97 via Currency Fair.
How to save money when paying for overseas holiday bookings![img](/img/external-link.svg)
The basis for determining what you pay, and how much the Australian dollar is worth against any foreign currency, is the interbank rate. To send a transfer of €1000 will cost $1638.41using Wise. The cost of making a €1000 transfer is $1639.97 via Currency Fair.
How to save money when paying for overseas holiday bookings![img](/img/external-link.svg)
The basis for determining what you pay, and how much the Australian dollar is worth against any foreign currency, is the interbank rate. To send a transfer of €1000 will cost $1638.41using Wise. The cost of making a €1000 transfer is $1639.97 via Currency Fair.
15 PayPal Alternatives For International Payments![img](/img/external-link.svg)
The global cross-border payment market is projected to reach $238.8 billion by 2027. PayPal Holdings, Inc. has long been a dominant player in the market. Wise stands out as a solid alternative to PayPal for international transfers.
Why SWIFT Remains Indispensable For Cross-Border Payments![img](/img/external-link.svg)
SWIFT serves as the primary interbank messaging service for financial institutions globally. Alternative rails have been successful, from Rapyd and Ripple to Wise and Airwallex. Achieving greater regional connectivity will be more challenging than bilateral deals.
A word to the wise: be wary of rivals![img](/img/external-link.svg)
Wise is worth about 25 per cent less than when it debuted on the London Stock Exchange in 2021. This underperformance serves as a reminder that IPO valuations are often too frothy and that investing in growth stocks can be a bumpy ride.
Fintech firm Wise's shares fall after announcing CFO is resigning, CEO to go on leave![img](/img/external-link.svg)
Wise shares were down around 4% as of 9:15 a.m. London time. CEO Kristo Kaarman will go on paternity leave starting September.