How Wise Uses Customer Feedback to Drive Success
Number of users surpassed
Value transferred through the platform
Proportion of revenue growth from word of mouth
About Wise
Wise is a FinTech pioneer that operates a money transfer service in over 69 countries, allowing private individuals and businesses to send money abroad without hidden charges. With over 3 million users, 2 billion pounds transferred and having scaled the team to over 1000 people, Wise is one of the most successful and fastest-growing FinTech companies in the world.
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Challenge
Wise operates in the incredibly competitive and highly innovative world of FinTech. With over 60% of their revenue growth coming from word of mouth, NPS as an indicator of what their customers are feeling becomes the best predictor of growth going forward.
That's why Wise chose Chattermill to help determine the key drivers of customer experience to help them prioritise resource, teams and projects, as well as track the prevalence of their brand in order to relentlessly optimise their growth.
Turning the manual into the automatic
By 2015, Wise's growth made it impossible to keep manually interpreting customer feedback. The company needed a better way to analyse huge volumes of comments in multiple languages.
Given that Wise operated their money transfer service in over 69 countries, the volume of customer feedback was too great and too diverse to be copied and pasted into Google Translate and analysed manually. Nevertheless, as customer feedback was directly linked to growth, the company needed to fully understand what their customers were saying about their product.
Click below to watch Nilan Peiris, Wise’s Chief Product Officer, talk about how "instrumental" Chattermill has been to Wise’s success over the last 8 years.
Customers at the heart of every decision
Chattermill text analytics and bespoke AI models enabled Wise to analyse feedback in all languages they received customer responses in, providing near real-time and granular insights into what their customers were feeling at any point in time.
Wise was also able to integrate with existing tools and systems internally, making it effortless to embrace and scale a data-driven culture focused on their customers throughout the whole company.
By relying on Chattermill, Wise was able to better prioritise new features based on what would improve NPS, and focus their efforts on building that which was clearly what customers wanted.
Not only did that focus help motivate teams but also helped them more clearly validate and agree on decisions, which is a testament to the company's rapid growth over the past few years.
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