Wise (WSE) Owners Day 2025 summary

Strategic vision and market opportunity

• Aims to become the global network for cross-border money movement, targeting the GBP 32 trillion market and disrupting the GBP 170 billion annual fee pool banks collect from hidden FX markups and inefficiencies.

• Focuses on building a unique infrastructure with direct payment system connections, proprietary technology, and global regulatory licenses, enabling instant, low-cost, and reliable transfers.

• Wise Platform is positioned as a key growth driver, enabling banks and fintechs to leverage Wise’s infrastructure, with expectations for platform volume to rise from 4% to 10% of total FX volume in the medium term and become the majority long term.

• Strategic investments in infrastructure, marketing, and product expansion are set to double annual spend, with GBP 2 billion earmarked for infrastructure over the next two years.

• Wise is expanding its moat by deepening infrastructure and increasing direct payment system access globally.

Product and infrastructure development

• Over 15.5 million active customers and 600,000 businesses use Wise, with Wise Account adoption at nearly half of personal customers and 60% of businesses.

• Wise Account income is growing at 66% annually, with non-conversion income (cards, interest, other fees) up 93% and now 30% of total income.

• Infrastructure includes 70+ licenses, 90+ direct bank partners, and 850+ engineers, enabling 65% of payments to be instant and 99.9% uptime.

• Direct connections to payment systems in key markets (e.g., U.K., Europe, Singapore, Australia, Philippines, Brazil, Japan) reduce costs and increase speed.

• Wise Business is expanding from micro and small businesses to larger SMEs, investing in workflow tools, local integrations, and superior customer experience.

Financial performance and guidance

• Achieved 21%–25% year-on-year growth in active customers, 22% growth in cross-border volume, and over 30% growth in customer holdings for FY2025.

• Underlying income has grown faster than volume, averaging 34% annually since listing, with FY25 underlying income up 16%.

• Underlying profit before tax margin was 20% in FY25, with medium-term guidance of 15%-20% underlying income growth and 13%-16% PBT margin, targeting the top of this range for FY26.

• Maintains a disciplined capital allocation framework, with a new GBP 250 million share buyback program and investment grade BBB ratings from S&P and Fitch.

• Free cash flow conversion exceeds 100%, supporting ongoing investments and potential selective M&A for licenses or strategic expansion.