Wise is the fastest, easiest way to send money overseas. Over the past nine years, Wise grew from a small financial services startup to a billion-dollar organization that supports over six million customers worldwide. As their customer base continues to grow, so does the amount of data they analyze, manage, and store for transfers.
For Wise customers, the experience is as simple as sending money from A to B, but behind the application and website is a complex engine of currencies and routes that is being designed, built, and powered by their talented teams in cities around the globe.
Wise previously used MySQL, but the team reported slow querying rates and limited storage capabilities. In addition, they realized that their substantial efforts to modify MySQL to support time-series data were better spent elsewhere. The Wise team decided it was time to explore a different database infrastructure to ensure they would be able to deliver on their commitments and support new initiatives.
After moving to Timescale, the Wise team is experiencing a throughput of 1,000 inserts per second and 1.1 M rows read per second and has increased their data footprint at a rate of about 2 TB of data each year. This enables Wise to produce instant transfers without worrying about query performance or limited storage.
With Timescale, Wise can deliver a seamless customer experience for a fraction of the infrastructure and development cost of other solutions that are not optimized to handle time-series data. Additionally, we are able to leverage the existing knowledge of PostgreSQL instead of having to learn a whole new operating system and query language.
Pedro Albuquerque, Senior Database Engineer at Wise