The Future of Cross-Border Payments

Tristan Dakin - Wise

About this Episode

Dexter Cousins welcomes Tristan Dakin, Country Manager at Wise on this week's Fintech Chatter Podcast. They chat about the innovative solutions Wise provides in the payments technology space and the complexities of instant payments. Tristan speaks about the company's growth and the challenges of operating in a highly regulated environment.

He shares insights into Wise's culture, the importance of transparency in financial services, and the future of fintech in Australia.

About Wise

Wise launched in 2011 making international money transfers cheap, fair, and simple their Vision. Today, their multi-currency account helps millions of customers and businesses manage their money globally.

Their story started in London with Taavet (paid in Euro's) & Kristo (paid in Pounds) solving the issue of making money in one country but needing to meet payment commitments in their home country. Expensive fees and bad exchange rates each month led them to make a simple workaround. Taavet would pay Kristo's mortgage in Estonia and Kristo would pay him back in pounds.

No waiting, no stress, and no extra cost, they quickly realised that they had hit upon a great idea and TransferWise was born. They have since added a multi-currency account, a debit card, and a business account, and changed their name to Wise.

About Tristan

Tristan joined Wise in 2020, and since 2022, has been leading Wise in Australia and New Zealand as country manager. Before joining Wise, Tristan worked in the financial services industry, including Lombard Securities in the UK.
He is skilled in FX, Banking, Management, Financial Markets, Trading, Structured Products and Derivatives, and Financial Risk.

Key Takeways

Wise aims to build the best way for people to move money globally.
The company focuses on transparency in fees and payment processes.
Instant payments are achieved through advanced technology and infrastructure.
Wise's growth has been significant, with millions of active customers.
The complexity of regulatory compliance is a major challenge for fintechs.
Tristan's background in financial services shaped his approach at Wise.
The culture at Wise emphasizes autonomy and problem-solving.
Australia's fintech landscape is evolving, with increasing competition.
Regulatory changes could enhance transparency in the financial sector.
Wise is committed to empowering customers and improving financial services.

Chapters

00:00 Introduction to Fintech Chatter and Wise

01:15 Wise's Mission and Products

03:27 Challenges of Cross-Border Payments

07:09 The Complexity of Instant Payments

09:10 Wise's Growth and Market Presence

10:54 Wise's Centralised Infrastructure and Competitive Advantage

12:32 Australia's Unique Remittance Landscape

13:18 Tristan's Background and Attraction to Wise

16:25 The Role of Country Manager at Wise

17:55 Inspiration and Motivation in Fintech

19:43 Cohesion and Culture at WISE

26:51 Navigating the FinTech Landscape in Australia

30:18 The Future of FinTech: Trends and Innovations

38:36 Download the Wise App

Links & Resources:

Visit Wise website
Connect with Tristan Dakin
Connect with Dexter Cousins
Learn more about Tier One People

137: 11:FS | David M. Brear

In Ep 137 of Fintech Chatter Dexter Cousins chats to David M. Brear, CEO of 11:FS.

A celebration of sorts as both 11:FS and Tier One People celebrate their 7th anniversaries.

Tune in as Dexter and David discuss their contrasting experiences over the last 7 years as founder/builders in Fintech. They share their lessons in business, hiring, leadership, life, startups, parenthood, and everything else in between.

About 11:FS

11:FS is a challenger consultancy that builds and launches next-generation digital propositions for some of the biggest banks in the world.

Driven by the belief that digital banking is 1% done and that digital reform is needed to improve systems and services for banks and their customers.

11:FS build new digital banks and banking products, and deliver benchmarking, research, and consultancy for banks, insurers, governments, regulators and startups around the world.

They are behind multiple podcasts including Fintech Insider, a bi-weekly show about all things fintech and financial services, which is downloaded in over 100 countries every week and is one of the top business podcasts on Apple podcasts; Blockchain Insider, a dedicated podcast specialising in all things blockchain, ledger technology and cryptocurrencies and Insurtech Insider, covering the latest news, insights, and trends in the Insurtech industry.

About David M. Brear

David is the CEO of 11:FS and since his dream of being a sportsperson was crushed (along with the ligaments in his knee!) and he had to get a proper job, he has worked in pretty much every angle of the financial services industry, never losing that competitive desire to drive forwards and win.

Having pitched, established, and run billion-pound transformations for some of the biggest FS companies on the planet the realisation that Digital Financials Services Is Only 1% Finished has spurred his desire to establish an organisation that can actually support the industry through its greatest challenge.

11:FS is a challenger to the incumbent consultancies. We create innovative strategies and build out new propositions and ventures in the UK, US, Europe and Asia for some of the biggest brands on the planet. Alongside this 11:FS build in-house products from competitor benchmarking tools like 11:FS Pulse, to core banking and modern architecture systems like 11:FS Foundry.

In 4 years 11:FS went from zero brand and zero revenues to a multimillion a month business with one of the hottest brands in fintech all with zero external investment in the group.