Introduction
The sudden increase in failed transfers for USD to EUR transactions over $10,000 on Wise is a critical issue that demands immediate attention. This problem directly impacts our core value proposition of facilitating seamless international money transfers. I'll approach this analysis systematically, focusing on identifying the root cause, validating hypotheses, and developing both short-term fixes and long-term solutions.
Framework overview
This analysis follows a structured approach covering issue identification, hypothesis generation, validation, and solution development.
Step 1
Clarifying Questions (3 minutes)
Why it matters: Recent changes could be directly linked to the increase in failed transfers. Expected answer: Yes, there was a minor update to the fraud detection algorithm. Impact on approach: If confirmed, I'd prioritize investigating the new algorithm's impact on large transactions.
Why it matters: An unexpected surge in high-value transfers could strain our systems. Expected answer: Transaction volume has remained relatively stable. Impact on approach: If volume is stable, I'd focus more on internal system issues rather than capacity problems.
Why it matters: New regulations could be causing additional friction in the transfer process. Expected answer: No significant regulatory changes have been implemented recently. Impact on approach: If confirmed, I'd shift focus from external compliance factors to internal processes.
Why it matters: Extreme market volatility could impact our ability to execute trades efficiently. Expected answer: The exchange rate has been relatively stable. Impact on approach: If stable, I'd prioritize investigating our internal systems and partnerships with financial institutions.
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