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Wise plc 19 October 2021 Q2 Financial Year 2022 Trading Update " Wise's mission is to make moving and managing money across borders faster , easier , cheaper and more transparent for everyone , everywhere . During the quarter we made strong progress : we dropped prices faster than hoped , our payments got faster , with more features for businesses , and we launched our exciting new ' Assets ' feature for customers in the UK . " Customers are telling us that this is working - almost 4 million customers transferred £ 18bn this quarter , that's a 36 % increase on last year and a 10 % increase from last quarter . " So , we're moving more of the world's volume and operating at a lower cost , the benefit from which we've passed onto our customers , whilst maintaining a sound sustainable business model that's investing even more for the long term . " Kristo Käärmann , Co - Founder & CEO Mission highlights for Q2 FY2022 Customer price Instant transfers Q2 FY2022 0.62 % 40 % Q2 FY2021 0.70 % 32 % YoY Movement -8bps 8pps Q1 FY2022 0.67 % 38 % Our payments got faster too . The time it takes to complete a transfer continues to improve with 40 % of all transfers delivered instantly this quarter , up from 38 % in Q1 . QoQ Movement Our work to decrease costs and scale volumes enabled us to reduce prices for 1.7 million customers with customer prices¹ now 0.62 % on average , 5bps lower than they were at the beginning of the quarter . This is an exceptional movement for a single quarter and reflects the amazing work from the team and our commitment to invest in sustainably lower prices . -5bps 2pps We made further progress developing our Wise Account during the quarter with the UK launch of Assets . Assets gives customers a potential return on their balance with Wise by holding it in a different asset class , while still being able to spend and send as though it were held as cash . At the same time we are increasingly convenient , for example , we integrated with a payment network in India so that Wise customers can send money to India using their smartphones , without needing to know their recipient's bank details and have the transfer arrive within 20 seconds . Our proposition for business customers was enhanced with the launch of a number of new features during the quarter including the ability to attach receipts and notes to card transactions ; and enhanced controls such as the ability for an account holder to delegate tasks , payment approvals and assign spending limits to 1. Customer price is based on a fixed basket of representative currencies which reduces the effect from route mix and other factors , making it a more accurate representation of our progress in reducing the cost of international transfers over time .