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2 Estonians take on banks (currency exchange)

Discussion in 'Banking - Investing - Finances' started by DavyL200, Oct 6, 2015.

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  1. DavyL200

    DavyL200 DI Forum Luminary ★ Global Mod ★ ★ Moderator ★ Highly Rated Poster Showcase Reviewer

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    "In most of the successful disruption cases the industry doesn't see what has hit them."

    Kristo Kaarman, one of the founders of peer-to-peer money sending firm TransferWise, has a glint in his eye as he recounts how the business he created with his friend Taavet Hinrikus has grown.

    The firm, founded just four years ago, has already moved more than $4.5bn (£3bn) of customers' money across the world and employs 400 people in five offices globally.

    Banks once had a near monopoly on this lucrative sector, where people send more than $500bn (£334bn) abroad each year.

    But not anymore, according to Mr Hinrikus who says the banks "have fallen asleep.
    The two Estonians taking on the banks at currency exchange - BBC News
     
    DavyL200, Oct 6, 2015
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  2. Jack Peterson

    Jack Peterson DI Forum Luminary Highly Rated Poster SC Connoisseur Veteran Air Force

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    Estonians?
    Would you really trust your Money with an Eastern European Country's supposed Entrepreneur after all that is reported about things.:wideyed:

    Jack :pompus:
     
    Jack Peterson, Oct 6, 2015
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  3. Hans Boot

    Hans Boot DI Member Restricted Account

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    I'm pretty sure the likes of Thiel and Branson will not burn their fingers on questionable would-be's. From what I understand, they are based in London and are thus under the control of the British financial authorities. So, yes, I wouldn't have any qualms doing business with them...
     
    Hans Boot, Oct 6, 2015
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  4. Jack Peterson

    Jack Peterson DI Forum Luminary Highly Rated Poster SC Connoisseur Veteran Air Force

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    Maybe not Directly but I would certainly query their Operation not under Direct control but each to their own of Course. :wink:

    Jack :whistling:
     
    Jack Peterson, Oct 6, 2015
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  5. Rye83

    Rye83 with pastrami Admin Secured Account Highly Rated Poster SC Connoisseur Veteran Army

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    They rank the same on the corruption index and France and Qatar (tied for 26th in the world for least corrupt).
    2014 Corruption Perceptions Index -- Results
    I would have no problem doing business in Estonia and all the Estonians I have met were pretty good guys (working with their military in Afghanistan). Odd that you don't have any problem keeping your money in a Philippine bank? :wink: I don't trust Philippine banks and won't put one cent of my money in any institution here.
     
    Rye83, Oct 6, 2015
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  6. Jack Peterson

    Jack Peterson DI Forum Luminary Highly Rated Poster SC Connoisseur Veteran Air Force

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    Each to our own EH!
     
    Jack Peterson, Oct 6, 2015
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