Helping TransferWise enter the Australian market

TransferWise is one of the world’s most popular money transfer services. Ahead of their Australian launch, we helped them understand how Australians think about money, transfers and trave

Photo of a man at an airport looking at departure and arrival times on screens.
  • Insight into what drives Australians to adopt new financial products

  • A competitor analysis of travel and transfer products

  • Recommendations for local messaging and positioning


Global company, local context

TransferWise are a money transfer and currency exchange company that have helped hundreds of thousands of people obtain better exchange rates and faster transfers between themselves and their loved ones.

With offices globally, TransferWise are a truly multinational business. Ahead of formally launching their products and services in Australia, TransferWise asked Paper Giant to research the local context and provide insight into consumer behaviours around money transfers, travel cards, and digital banking.

Illustration of a woman walking through an airport to the arrivals gate.
Illustration of people standing and thinking. They are standing alone but connected by a network lines.

Researching the Landscape

We conducted research with a range of Australian residents, including recent migrants, international students, and citizens that had family living internationally.

Working alongside product owners from TransferWise, we visited people’s homes and workplaces to talk about why and how they send money overseas, and how they prepare currency for international travel. We spoke to people from different cultural backgrounds and socioeconomic groups to make sure we got an accurate understanding of the diverse experiences and behaviours that exist in Australia around managing money.

We also asked people to show us how they send money currently, gaining insight into competing services from Australian banks and WesternUnion, amongst others.

Photo of printed research report about changing financial providers. A book is open, one page highlights key statistics of customers while the other includes a research summary.

A key spread from the printed report developed as part of the project

Positioning for success

We found that Australians think of ‘transferring money’ as a feature of banking, not a separate product. We also found that there are many barriers – both perceived and actual – that prevent people from taking up a new financial product.

Using this understanding, we worked with the TransferWise team to design better messaging for their consumer facing websites. We also identified opportunities for new features or services to complement the products that are already loved globally.

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Paper Giant acknowledges the Wurundjeri and Boonwurrung people of the Kulin nation, the Ngunnawal and Bundjalung people as the Traditional Owners of the lands on which our offices are located.

We acknowledge the Traditional Owners of Country on which we meet and work throughout Australia. We recognise that sovereignty over the land has never been ceded, and pay our respects to Elders past and present.

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