Wise plc
Thesis
Wise has built an alternative to SWIFT for international money transfers, leveraging its platform business to provide banks with a more efficient solution. This shift towards a bank-level platform could significantly increase Wise's transaction volumes and market presence.
Did it work?
The pitch is a long thesis on Wise premised on its bank-level platform driving significantly higher transaction volumes and market presence, but no price performance is available and the time elapsed is unknown. There is no verifiable evidence provided that the thesis's key catalysts — major bank adoption of Wise's platform and a material increase in volumes — have occurred or been invalidated. Without price data or confirmed thesis events, no judgement on success or failure can be made.