Sana__Rahman

Comms at Wise | formerly Stripe, Appier, Google.
Views mine.

[Nilan 🇱🇰 නිලාන් @nilanp]

This week, 🇺🇸consumer watchdog took action to prevent false claims of 'free' international money transfers across financial services providers in the US.

💪This marks a major win for transparency in the US.

Here's why 🧵

https://t.co/1njfrzRjuM

[Nilan 🇱🇰 නිලාන් @nilanp]

🎉Excited to see PayPal announce fee-free cross-border payments via its latest from Xoom

Especially since there’s been a steep hidden fee in the form of exchange rate markups 📈 😬 in Xoom transactions to date

Let’s take a closer look🕵️ 👀

[Sana__Rahman @Sana__Rahman]

@cianw @infatuation @vittlesmagazine I'm going to miss their onion bhaji bagels

[Kristo Käärmann @kaarmann]

Always wondered who are the people, who send "letters to the editor" ... 🤯

[Sana__Rahman @Sana__Rahman]

The world does need a better cross-border network. And we're working on it @Wise . 💪

[Kristo Käärmann @kaarmann]

Dear Governor Panetta,

Thrilled that you are taking interest in cross-border money - this thing I’ve been working on fixing for the last 13 years of my life :)

You are rightly pointing out that slow, expensive and stressful international payments hurt people, especially those least able to afford it, and small businesses just trying to get off the ground. But the root cause is simpler than a lack of governmental cooperation or technology 一 it is merely the lack of competition. But more interesting, why?

A few things we’ve learned that could help You make a difference much faster.

We have been connecting the world’s instant payment networks with Wise for a decade. We’re moving $140bn of the cross-border money and 60% of our customers’ payments arrive in less thanwhy 20 seconds. That’s all for an average fee of 0.67%, a tenth of the 6.3% cost you highlighted. No blockchain or crypto involved. All within the current regulatory frameworks. And we’ve been profitable for years. We were nobodies when we started, so anyone can do it if they are motivated.

The real question is: why do the banks, who still move 95% of the worlds’ cross-border payments for people and businesses, still have the cost and experience you described? It can clearly be done cheaper, faster, better! We’ve proven it.

The answer: a lack of competition.

But how? It’s a free world - surely bank customers could just switch to a better bank!

I’m sure they would, only if they knew what their bank was charging them. See, the 6.3% cost you referred to is mostly hidden from the customer or the business owner. As long as central banks and regulators let their local banks hide their fees in made up exchange rates and not tell their customers - there will only be options for the financially savvy people, who can work out what their bank is doing to them.

Europe is getting a lot of things right about the regulatory environment, single market and even have a law against hiding FX fees. And some banks get it and are getting transparent - especially the challengers who don't have the luxury of an unsuspecting customer base. Now we need to help more of our banks get more competitive.

Would love your help with that, Governor!

[Sana__Rahman @Sana__Rahman]

Can't wait to chat with Dan Witney from Allison and @kirbynardo about how storytelling has evolved with technology.

[Innovation Partnership @IP_innovationUK]

We are delighted to announce that Sana Rahman, Global Director @ Wise Plc will be speaking at our next roundtable!

👉 Book now: [email protected]

🔎 Learn more: https://t.co/dHT1A1MQ09

#IPprogramme2023

[Nilan 🇱🇰 නිලාන් @nilanp]

👰‍♀️ 🤵‍♂️ Wise + Swift - a match made in heaven ?

🌐 Swift is the messaging protocol that banks use to share metadata on international payments.

[Sana__Rahman @Sana__Rahman]

I'm becoming a different kind of Swiftie... @Wise we're teaming up with @swiftcommunity to make it easier for banks & FIs to route their Swift messages to Wise Platform and access fast, low-cost and transparent #payments without needing major technical overhauls. Read more 👇

[Financial IT @financialit_net]

. @swiftcommunity and @Wise Join Forces to Expand Cross-border Payment Options Globally.

Read more: https://t.co/JKpL1O4Tal

#crossborderpayments #financialservices #collaboration #FinancialIT

[Sana__Rahman @Sana__Rahman]

Things never slow down @Wise 🚀

[harshsinha @harshsinha]

Months fly when you’re having fun - building.

Time for another @Wise mission update. What have we been building for you between April and June 2023.

You can find the full Q1 mission update here - https://t.co/eRtjLYNLKF

[harshsinha @harshsinha]

Months fly when you’re having fun - building.

Time for another @Wise mission update. What have we been building for you between April and June 2023.

You can find the full Q1 mission update here - https://t.co/eRtjLYNLKF

[Sana__Rahman @Sana__Rahman]

It's not always easy to check the fine print.. but it is worth the effort!

[Kristo Käärmann @kaarmann]

1/ As lawmakers and regulators in the UK fly to their summer holidays, some tips for them how to save their money from those who don't follow the law.

Screenshots for those banking with NatWest, Barclays, Lloyds, HSBC, TSB and Starling. 🤓

[harshsinha @harshsinha]

That’s just a few call outs on what we’ve been working on through Q1 as we work on our mission of building money without borders.

For a full list of everything shipped read full post here - https://t.co/fmoKehlcUs

See you in 3 months.

https://t.co/KBXSw0vZ2X

[Sana__Rahman @Sana__Rahman]

"He sounds genuinely upset that I have not applied for a Wise account so that I can fully understand its benefits."

True story. Read all about it in The Times today: https://t.co/gnRMztotcn

[Sana__Rahman @Sana__Rahman]

@Wise is now 🟢, like "go".👇

[Kristo Käärmann @kaarmann]

1/ This week we launched the new green look inspired by the 16m @wise customers from Singapore to São Paulo.

From TransferWise to Wise 2 years ago, now everything packed into your Wise Account to go international.

[Kristo Käärmann @kaarmann]

1/ Q4 Mission Update to @Wise customers

For context:
5.8 million people and businesses used in Q4
£26.4 billion sent, spent, received globally

We report back on
* fees - did we get cheaper?
* speed - how fast did the money move?
* convenience - is it nicer, more useful?

[Roisin Levine @RoisinLevine]

I recently spoke to @thefintechtimes about what I'm up to at @Wise and the future of 'Wise Platform'...💙

https://t.co/5vLtHsORLm

[Sana__Rahman @Sana__Rahman]

The mission may not always make sense, and then you talk to @kaarmann and it all clicks. It is. For. Real.

[Kristo Käärmann @kaarmann]

1/ This week, under the watchful eye of @EU_Commission, companies committed to stop hidden fees when people send money to help friends, families and colleagues in Ukraine.

Here’s why it’s fun news. 🧵

[Sana__Rahman @Sana__Rahman]

Proud to say that @Wise joined other providers in the EU in committing to continue offering cost effective, transparent and accessible remittances to Ukraine 🇺🇦.
@MVBulck

[EU Finance 🇪🇺 @EU_Finance]

.@EU_Commission welcomes a Joint Statement by EU & Ukrainian financial institutions to provide access to affordable, accessible & transparent remittance services to Ukraine 🇺🇦
➡️ https://t.co/m907vdP3GC
➡️ https://t.co/kxzPvzToIA
#StandForUkraine

[Sana__Rahman @Sana__Rahman]

@jonrussell Sounds like an issue for tomorrow's Jon? Haha happy birthday @jonrussell 🎂

[Sana__Rahman @Sana__Rahman]

This is so cool. Big fan @ChantaalGS 🚀