Total Users with an active Wise account = Total Active Users + Total Users who haven’t transacted Total Active Users = Total MCA Users + Total Send Users = Total New Users + Retained Users Total New Users = New Send Users + New MCA Users Total MCA Users = New MCA Users + Retained Users who transacted this month via MCA Total Send Users = New Send Users + Retained Users who transacted this month via Send Send CR = Total Send Users / Total Users with an active Wise account MCA CR = Total MCA Users / Total Users with an active Wise account New Send CR = New Send Users / New Profiles Created in Month New MCA CR = New MCA Users / New Profiles Created in Month We have recently witnessed a drop in MCA conversion, but send user conversion is stable, can you help explain why?

To understand why there is a drop in MCA (Multi-Currency Account) conversion while send user conversion remains stable, let's break down the conversion rates and analyze each component.

First, we'll calculate the total active users:
Total Active Users = Total MCA Users + Total Send Users = Total New Users + Retained Users

Next, we'll calculate the total new users:
Total New Users = New Send Users + New MCA Users

Then, let's calculate the total MCA users:
Total MCA Users = New MCA Users + Retained Users who transacted this month via MCA

Similarly, let's calculate the total Send users:
Total Send Users = New Send Users + Retained Users who transacted this month via Send

Now, let's calculate the Send conversion rate (Send CR):
Send CR = \frac{Total Send Users}{Total Users with an active Wise account}

Similarly, let's calculate the MCA conversion rate (MCA CR):
MCA CR = \frac{Total MCA Users}{Total Users with an active Wise account}

Next, let's calculate the New Send conversion rate (New Send CR):
New Send CR = \frac{New Send Users}{New Profiles Created in Month}

Finally, let's calculate the New MCA conversion rate (New MCA CR):
New MCA CR = \frac{New MCA Users}{New Profiles Created in Month}

By analyzing the conversion rates, we can determine the reasons behind the drop in MCA conversion rate while the send user conversion rate remains stable. This analysis will help us identify any potential issues or discrepancies in the MCA onboarding process, user experience, or other factors that may be affecting the conversion rate.

Answer: To explain the drop in MCA conversion rate while the send user conversion rate remains stable, we need to analyze the individual components of the conversion rates and identify any potential issues or discrepancies in the MCA onboarding process or user experience.