Wise Reports Strong Q2 FY27 Results with 22% Cross-Border Volume Growth

Wise has reported a 22% surge in quarterly cross-border volume to $71.7 billion, driven by a growing base of 12.5 million active customers. For fintech professionals, the results underscore the firm's ability to scale while aggressively lowering prices, with net revenue climbing 21% to $739.1 million as the platform evolves into a primary financial hub.

What was announced

For the second quarter of FY27, ended September 30, 2026, Wise saw significant growth across its core metrics. Active customers increased by 20% year-on-year, while customer holdings rose 28% to reach $43.5 billion. The company’s efforts to move beyond simple remittances are reflected in card spend volumes, which grew to $14.3 billion during the period. Transaction revenue for the quarter reached $561.3 million, a 22% increase over the previous year.

A key strategic highlight was the reduction of the cross-border take rate by 3bps to 49bps. This move represents a proactive investment of operating leverage to maintain a competitive price advantage. Speed also remains a differentiator, with 78% of all transfers now completed instantly. On the infrastructure side, Wise went live in Malaysia with its ninth direct integration and expanded its product footprint by launching the Wise Account and Card in Thailand, alongside the introduction of Wise Assets in New Zealand.

The company also confirmed a new Wise Platform partnership with OakNorth to facilitate international payments for the bank’s UK business clients. Looking ahead, Wise has upgraded its guidance, now expecting FY27 net revenue growth to sit in the upper half of its 15-20% medium-term target range. The company maintains its expectation for an income before tax margin at the top of the 20-25% range.

"More than 12 million customers chose Wise this quarter to move over $70 billion around the world, paying 49bps on average, with 78% of transfers completed instantly. Customers are also using Wise for more of their everyday financial needs – spending $14 billion on Wise cards and increasing holdings to $44 billion."

Kristo Käärmann, Co-founder and Chief Executive Officer

The companies involved

Wise, listed on both the London Stock Exchange and Nasdaq, has established itself as a dominant force in the global movement and management of money. Originally launched to disrupt the high fees associated with international transfers, the company has expanded into a comprehensive technology platform serving both individual consumers and large-scale enterprises through its Wise Platform division. With nearly 100 reports on the firm in our archives, Wise remains one of the most closely watched entities in the cross-border payments sector.

OakNorth is a UK-based digital bank focused on providing financial services to "the missing middle"—scale-up businesses that are often underserved by traditional high-street lenders. The bank has a significant presence in the UK market, recently diversifying its offerings to include retail savings products. As a partner for Wise Platform, OakNorth leverages third-party infrastructure to enhance its own business banking suite. FF News has tracked OakNorth’s trajectory through over 50 individual reports, covering its evolution from a specialist lender to a broader financial services provider.

What FF News has reported before

Wise has recently undergone significant leadership changes, as seen when Wise Appoints Former NICE CEO Barak Eilam as Chair Designate to Drive Global Scaling. The company has also been vocal about market transparency; we covered how Wise Downgrades UK in G20 Scorecard as Brits Lose £10 Billion to Hidden Fees. Meanwhile, OakNorth has been active in expanding its consumer reach, as OakNorth Enters Children's Savings Market with 3.5% Junior Cash ISA and Bubble Partnership. Additionally, the bank continues to support large-scale corporate moves, evidenced when OakNorth Backs EET Retail’s Acquisition of SGN Retail in £250M Club Loan Deal.

What this means

The reduction of the take rate to 49bps is a clear shot across the bows of traditional banks and legacy money transfer operators. By choosing to sacrifice immediate margin to lower customer costs, Wise is making it increasingly difficult for competitors to justify "hidden" FX markups. The significant growth in card spend and customer holdings suggests the company is successfully transitioning from a transactional tool to a primary account provider. This shift puts immense pressure on incumbent retail banks, who are seeing their most profitable international-facing customers migrate to leaner, faster digital alternatives. The industry must now grapple with the reality that "instant and cheap" is no longer a goal, but the baseline expectation.