Digital bank Revolut has updated its banking app to version 8.0. The Fintech says the new version delivers a more simplified and customizable experience for its 15+ million users.
A key feature of the app is a new hub that allows users to browse all of the various Revolut products that continue to grow.
Revolut also now allows users to customize the app home page. A smart search bar has been added to the top of every main tab.
Ivan Vazhnov, Head of Android Engineering at Revolut, said their latest app iteration gives users even more capabilities on a daily basis and allows them to interact with some of their favourite Revolut products like they have never done before.
“The new interface brings user experience to the next level thanks to a customisable and intuitive design. We have taken into account all the feedback that we have been receiving over the last few months to introduce a new design that really meets our clients’ needs and give them even more control over their finances.”
As competition heats up in the digital banking sector, Revolut must continue to iterate and update services to remain competitive as all banking migrates away from branches to the bank on their smartphone. Key to a digital bank’s strategy is the ability to engage with customers on a more frequent basis – perhaps multiple times a day – something that rarely happened in the analog banking world. This frequent engagement allows Revolut to pitch new products and services but these touchpoints must not be obtrusive otherwise users can turn away.
Revolut has emerged as one of the most successful digital banks, in regards to the number of users, due to its ability to provide frequent updates and quickly add new services. Quickly catering to the demands of users is not something traditional banks have been known to do.