Wise + Segment
Challenge
Wise, operating in the global finance sector, faced the challenge of ensuring trust and security while providing a cost-effective international money transfer service. Maintaining customer trust was paramount, especially in an environment where security threats were prevalent, and even minor breaches could severely impact the brand's reputation and business.
Solution
Recognizing the importance of trust and security, Wise invested in enhancing its security infrastructure to safeguard customer data and transactions. They implemented Twilio's Authy Push Authentication solution to strengthen security measures, particularly for customers holding funds with Wise, such as those using the Borderless Account. This solution provided an added layer of security through push notifications, ensuring that login attempts were legitimate and reducing the risk of unauthorized access.
Result
The implementation of Twilio's Authy Push Authentication solution yielded significant benefits for Wise. Firstly, it improved account security and reduced the likelihood of unauthorized access, thus safeguarding customer funds and trust. Secondly, it streamlined customer service operations by minimizing issues related to SMS deliverability and account access, particularly for international customers. Lastly, customers appreciated the convenience and transparency offered by push authentication, leading to higher satisfaction levels. Wise observed positive returns on investment, with significant time and cost savings in dealing with security threats. Moving forward, Wise aims to further enhance security measures, potentially extending two-factor authentication beyond login to protect sensitive actions like fund transfers and profile editing, thus prioritizing customer data privacy and security.