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" Most banks tell their customers that they only pay a small upfront fee for international payments. But in reality, customers pay much more. "
Taavet Hinrikus
More
Pay
Only
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" As a consumer, I'm definitely waiting for what's going to come after banks. "
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" For Estonia, joining Europe meant our potential as a country increased - not decreased - because of that connectedness. "
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" When a new hire is afraid to roll up their sleeves and get things done, it's a clear sign it's not going to work out. "
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" The world is becoming more global. More than ever, people are proactively deciding where to live, where to study, where to work. Sometimes it's out of necessity, sometimes it's out of choice. "
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" The U.S.A. is a huge market which has a large immigrant population from Europe, India, from all around the world; lots of them have, still, strong ties to home, so move lots of money. "
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" I think that if Britain does decide to leave the E.U., that would be a disaster for the technology sector here and probably also for the broader economy. "
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" I get a kick out of helping the next generation of founders. "
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" As consumers in general, and with Millennials in particular, we're getting used to everything being cheaper, faster, better - and banks aren't keeping up. "
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" The banks never sent me one chequebook. I'm very happy not to have ever touched one. "
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Never
Touched
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" The world is getting smaller thanks to technology. "
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Thanks
Getting
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" Costs should always be presented up front so that consumers can make informed choices and get a fairer deal. "
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" I spent my workdays at Skype creating a more connected world. We were shrinking the distances between people, making it easier to connect across countries. Then I'd go to my bank to transfer my euros to pounds, and it was like going back in time 50 years: expensive, inconvenient, and painfully slow. It was a nightmare. "
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People
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" The growth of FinTech has been driven by adoption across age groups, but the demand from the millennial generation to innovate and think about financial services differently has been a catalyst for change. "
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" No amount of PR works if you've got a bad product. "
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Product
You
Works
" People need the financial sector to be safe; people also need the financial sector to go through a massive phase of innovation. That means delivering on the positive rhetoric, like around settlement accounts, not allowing Open Banking to be diluted, and leading the way on AML. "
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People
Positive
Innovation
" I did an MBA because when I left Skype, I didn't have a clear idea of whether I wanted to create or join a company. But you don't need an MBA to become an entrepreneur. "
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Entrepreneur
You
Create
" Most of my time at Skype was spent doing new things. "
Taavet Hinrikus
Doing
New
New Things
" In 2011, when we launched TransferWise, it was our frustration with banks not giving us what we wanted or needed as customers. The motivation was a strong desire to solve a problem and not just fix something that was broken but create a better alternative and a new system for doing things. "
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Broken
Strong
Frustration
" Hiring new people, opening up in new markets, all of that takes money. "
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Money
New
New People
" As technology progresses, I believe that fintech will fundamentally change finance. "
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Believe
Change
Finance
" Competition and variety in financial services are always good things. "
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Always
Good Things
Good
" Banks are really bad when it comes to building consumer-centred products. "
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Banks
Building
Products
" Large incumbents become big and sometimes become lazy and set themselves up for failure in the future. "
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Become
Future
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" Bitcoin, I think we can say, is dead. "
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" I think that's the beauty of being a private company: you get to choose when you disclose something. You can play it in a strategic way or in a tactical way. "
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Think
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" A preoccupation with job title is an immediate giveaway that someone's priorities are not in line with the company's. "
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Priorities
" When we talk about technology changing the world, we often hear about how it makes our lives easier, more connected, safer, or even healthier. They're all things we can easily identify with. The Internet makes our lives easier; services like Skype and WhatsApp allows us to be more connected - the examples are endless. "
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Internet
Technology
World
" Talent is a complex subject: from the education our kids get in kindergarten and beyond to the re-skilling of some parts of the workforce; from the opportunities available for research to how we attract the best people to work in our companies. "
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Best
Talent
People
" Being a 'global citizen' is not something reserved for the global elite anymore. Thanks to the democratising power of technology, it's not a trend determined by privilege or even age but by attitude. "
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Attitude
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" At TransferWise, we started out as - and continue as - idealists. We start with what we can do to make things better and how we can solve problems, focusing on what people need. It turns out you can focus on building the best service and be successful as business. "
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