Tagged: nik storonsky

New Service by Revolut Provides Anti-Fraud Feature in Partnership with Modulr

Digital bank Revolut has announced a new service: Confirmation of Payee – available to over 3 million UK customers. The feature is part of Pay.UK’s anti-fraud initiative, according to a release. The feature has been enabled by its payments partner Modulr, one of the few… Read More

Digital Banks and Fintech Challengers Must Show they Can Generate Profits, Investors are Expecting Returns

European digital banks have experienced significant challenges this year. Many have continued to record substantial losses and have received complaints from clients regarding service-related issues. Investors have been pushing banking challengers to show them how they can generate sizable profits by effectively monetizing their products… Read More

Digital Banking: London based Fintech Unicorn Revolut Breaks Even for the Month of November 2020

Prominent digital bank Revolut, which was last valued at around $5.5 billion, has reportedly managed to break even for the month of November 2020. Fintech Unicorn Revolut’s revenues had dropped as much as 40% when awareness about the Coronavirus pandemic began to spread back in… Read More

E-Commerce Platform PrestaShop Partners with Revolut

Digital bank Revolut has partnered with PrestaShop, an e-commerce platform in Europe and Latin America. According to the company, and Revolut Business is now available to PrestaShop merchants allowing sellers and their customers to benefit from payments when shopping online. This is part of Revolut’s… Read More

Revolut Challenges Established Payment Platforms with New Feature Enabling Businesses to Accept Payments Online

Revolut Business is challenging established payment platforms with its new feature that enables business accounts to accept payments that are deposited directly into their accounts. Yesterday, Stripe announced a service to provide digital banking to its customers. Today, Revolut is challenging Stripe and others by… Read More

Revolut Will Pursue Bank Charter in California

The United States has one of the most fragmented regulatory environments for financial services in the world. Frequently, a financial service provider will need to adhere to both state and federal rules along with an alphabet soup list of regulators. While the current leadership of… Read More

Revolut’s Revenue Nearly Tripled in 2019 to £162.7 Million, While Loss Jumped to £107.4 Million

Revolut, a leading UK based digital bank, filed its annual report yesterday indicating that for the fiscal year 2019 revenue jumped alongside a growing annual loss. According to the Fintech, in 2019, revenue nearly tripled to £162.7 million vs. £58.2 million in 2018. The operating… Read More

Paxos Launches Crypto Brokerage, Revolut is First US Customer

Paxos Trust Company, the first regulated Trust company for digital assets in the US, is introducing Paxos Crypto Brokerage – a service that integrates digital asset trading and sending within its portfolio of services. Paxos reports that it is the largest issuer of regulated stablecoins… Read More

Revolut Works with Anti-Poverty Charity Trussell Trust Food Bank

Digital bank Revolut has partnered with the Trussell Trust food bank in the UK to enable Revolut users to donate in-App to individuals in need. Revolut made the decision to implement a direct donation feature in light of the ongoing COVID-19 pandemic. The company says… Read More

Digital Bank: After Several Months of a Beta Launch, Revolut “Officially” Launches in the US

Revolut, a top digital-only bank operating across Europe and several other countries around the world, has “officially” launched in the US. Last month, Revolut revealed a huge half-billion dollar funding round to help finance its expansion plans. In 2019, Revolut opened up its US services… Read More

Digital Bank Revolut Raises $500 Million at $5.5 Billion Valuation

Leading UK based digital bank Revolut has closed on a $500 million series D funding according to a note from the company. The Fintech was valued at $5.5 billion making it one of the most valued private Fintechs in the world. Funding was led by… Read More

UK: Revolut to Offer Savings Accounts with 1.35% Interest Rate

Digital challenger bank Revolut has announced a new savings accounts for users in the UK market. The bank says the savings accounts will be available to Revolut Metal customers and earn a 1.35% interest rate on deposits – one of the higher rates of returns… Read More

Asia: Digital Bank Revolut Introduces New Debit Multi-Currency Card for Traveling Millennials

UK based digital bank Revolut has introduced a new debit multi-currency card that comes with “compelling travel benefits and cashback” for millennials who might be traveling, Kunal Chatterjee, Visa country manager for Singapore and Brunei confirmed. Revolut recently expanded into Asia with its sights set… Read More

Revolut Appoints New Chairman of the Board: Martin Gilbert former Co-CEO of Standard Life Aberdeen to Aid International Expansion of Digital Bank

Digital bank Revolut has selected a new Chairman of the Board. Martin Gilbert, an individual who has been advising Revolut co-founder and CEO Nik Storonsky, will join the bank on January 1st as non-Executive Chair. Gilbert is the former co-Chief Executive of Standard Life Aberdeen,… Read More

Revolut to Soon Offer Mastercard Credit Cards to US Customers

Revolut has partnered with Mastercard to issue credit cards using the global network. According to a release from Revolut, the new deal will reach 210 countries and territories with he first cards hitting the US by the end of the year. Revolut is a UK… Read More

Revolut Expands into Portugal with New Customer Operations Center in Porto

Digital bank Revolut is expanding into Portugal with a new customer operations center in Porto. The company reports that it will hire up to 400 new employees at the new location. Ricardo Macieira, an ex-Airbnb executive, and Rebeca Venancio, formerly at Microsoft, have been appointed… Read More

Digital Bank Revolut Adds Charity Feature that Enables Seamless Donations

Digital bank Revolut has announced a new feature that facilitates donations to charitable causes. Launched today, Revolut’s new in-app feature labeled “Donations”, allows customers to round up payments and donate the money to three international charities. Another option of the feature is to allow customers… Read More

Down Under: Digital Bank Revolut Launches in Australia as Expansion Outside of Europe Starts

Digital bank Revolut has traveled half-way around the world to set up operations in Australia with an office in Melbourne. This is the first step by Revolut to provide banking services beyond European borders. According to a release from Revolut, the digital bank is operating… Read More

Report: Revolut Plans Banking License in Russia, Meanwhile Launch in Lithuania is Delayed

Digital bank Revolut has grand plans to expand its services around the world. Based in the UK, the Fintech now serves over 4 million customers in the European Economic Area (EEA), Switzerland, and Australia. A Fintech Unicorn, Revolut has not been shy about its intent… Read More

Revolut Hits Rough Patch as CFO Resigns, Questions Arise Regarding Compliance [u]

Digital challenger bank Revolut has had a rough week. An article in the Telegraph on Friday questioned the bank’s process for monitoring transactions processed by the bank stating a system to prevent sanctions screening and other illicit activity was “switched off.”  The Fintech had apparently… Read More

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