The Future Of Banking’s Post

I'm glad I can share with you that Revolut, the British digital bank known for its cutting-edge financial solutions and a customer base exceeding 40 million globally, has recently been granted authorisation by the Comisión Nacional Bancaria y de Valores (CNBV) to commence operations as a multiple banking institution in Mexico. Revolut's foray into the Mexican market underscores the company's international expansion strategy, following closely on the heels of its launch in Brazil last year. With this new banking licence, Revolut Bank México is poised to enhance the financial ecosystem by offering instant and fee-free cross-border remittances among its users in 41 countries. This service is particularly significant for Mexico, where remittances from the US surpassed 63 billion US dollars in 2023, according to the Bank of Mexico. It is heartening to witness such developments that not only advance financial technology and inclusion but also foster stronger economic ties between the UK and Latin America. And Revolut's expansion into Mexico is a clear indicator of the potential for innovative financial solutions in the region. A special acknowledgment to Juliana Correa, our Country Director in Mexico, and Héctor Cabrera Díaz Infante, Head of Financial Services for the Department for Business and Trade in Mexico, for their instrumental roles in introducing Revolut to the country. Their dedication and effort in navigating the regulatory landscape and setting the stage for Revolut's operations are commendable. #RevolutMexico #FinancialInclusion #FintechInnovation #DigitalBanking

Revolut Bank UAB has initiated the migration of its customers from its Lithuanian entity to a newly established Romanian branch. #fintechnews #onlinebanking #expansion #ThePaypers

🌍 Revolut Hits 50M Customers and Tackles Cross-Border Challenges Revolut, the global neobank, celebrated a milestone this month, reaching 50 million customers and securing its position as Europe's most downloaded financial app. Despite its rapid growth since launching in 2015, challenges remain in the fragmented European financial market. 🔑Key Highlights: 📝 Regulatory Hurdles: Joe Heneghan, Revolut's Head of Europe, pointed out that varying national laws and practices, like IBAN discrimination, create obstacles for seamless cross-border operations. 📝 Tackling IBAN Issues: Many Revolut users hold Lithuanian IBANs, which are often rejected despite SEPA rules forbidding such discrimination. Revolut is addressing this by establishing local branches across the EU. 📝 Unified European Market Needed: Heneghan echoed recommendations from Mario Draghi’s recent report, advocating for a unified financial framework, including a Capital Markets Union (CMU). 📝 Digital Euro as an Opportunity: Revolut sees the upcoming ECB-backed digital euro not as competition but as a potential integration into its offerings. 🔮What’s Next? 📝 Plans to launch mortgage products in Lithuania, Ireland, and France by 2025. 📝 Expanding into business lending in 2024. 📝 Pursuing banking licences in all markets, including the US, to solidify its presence globally. 📝 Despite hurdles, Revolut remains a fintech leader, valued at $45 billion and shaping the future of financial innovation. ✨Follow AARK TECH Solutions for the latest updates and insights on market trends in Europe! #Revolut #Fintech #Innovation #DigitalBanking #CrossBorderPayments #IBAN #Finance #AARKTECH #AARKTECHSolutions #EU #Europe #SEPA

News of the week: Revolut is now starting to offer local IBANs in Germany Right before this announcement, I encountered IBAN discrimination firsthand. While signing a rental agreement, I was presented with a form that had a DE IBAN as the default option. When I inquired, the landlord insisted they only accepted local IBANs. This outdated practice is not only frustrating but also illegal under EU regulations. Yet, changing decades-old habits, especially in Germany, is a challenge. That’s why I’m excited about Revolut’s latest milestone—starting to issue local IBANs in Germany. This is the first step in our ongoing commitment to providing a true local experience, making it easier for everyone to access seamless financial services without barriers. Interestingly when comparing it to other countries - Germany is a true outlier - with heavy cash usage, card acceptance and IBAN discrimination. Now having the scales, experience and skills here at Revolut - it is our responsibility to bring our solutions and innovation into the market. The great benefit of going global first and local second -experience can be applied across all markets - which is why were are laser focused on the German market and can already harvest results through a healthy mix of centralization and localization. More to share on this soon... Our ambition has not change: Tackle all of the common problems in daily banking one by one - so as always we are just at the beginning. A huge thank you to Alex D. Christoph Kuban Elan F. Paul Barnekow Kathrin Baierl Christoph Weferling and many many more to drive the change and reaching new heights. Onwards & upwards! #Revolut #DreamTeam

𝐑𝐞𝐯𝐨𝐥𝐮𝐭’𝐬 𝐍𝐞𝐱𝐭 𝐂𝐡𝐚𝐩𝐭𝐞𝐫: 𝐇𝐢𝐠𝐡 𝐆𝐫𝐨𝐰𝐭𝐡 𝐌𝐚𝐫𝐤𝐞𝐭𝐬 🗺️ Revolut’s 2024 geographic expansion strategy reveals a calculated entry into some of the world’s fastest-growing economies. 🚀 🗝️ Here are key insights from Revolut’s latest moves: 🇲🇽 Mexico: With Comisión Nacional Bancaria y de Valores approval, Revolut México is now a subsidiary, marking a new era for digital financial services in Latin America. By delivering more flexible, innovative banking alternatives, Revolut is set to capitalize on the region’s growing demand for digital banking. 🇸🇬 Singapore: Launching its B2B platform, Revolut Business, here is a significant step in its Asia strategy. Offering affordable financial management tools to businesses of all sizes, Revolut positions Singapore as its hub for scaling across Asia-Pacific. 🇨🇴 Colombia: Already competing with the likes of Nubank and Lulo Bank, Revolut’s intended entry into Colombia by hiring locally and pursuing licensing underscores its ambition to deliver not just banking solutions but a full ecosystem, including digital assets and lifestyle products, aligned with local regulations. 🇦🇪 🇸🇦 UAE & KSA: With eyes on the GCC, Revolut is entering the remittance-heavy markets of the UAE and exploring opportunities in Saudi Arabia. This expansion aligns perfectly with the region’s digital transformation goals. 🇮🇳 India: Set for a 2025 launch, Revolut’s in-principle Reserve Bank of India (RBI) approval for prepaid cards and wallets puts it in a position that aligns with India’s increasing demand for seamless, cashless payment solutions and opens up vast opportunities for Revolut to tap into the country’s unbanked and underbanked populations. ______________ 📈 As Revolut continues to align its products with local regulations and market needs, it’s creating a blueprint for digital banking expansion that balances global ambitions with localized offerings. Want more insights into how Revolut is changing the game across these regions? Read our full analysis to see how it is shaping the future of digital finance across emerging markets here ➡️: https://lnkd.in/gxe6Ursi via WhiteSight #fintech #digitalfinance #digitalbank #digitalpayments #expansion #Revolut

Revolut has expanded its international transfers feature by introducing 14 new payment corridors across nine African countries. The new feature allows Revolut customers in the UK and most European Economic Area countries to send money to recipients in Africa using digital wallets: MTN, airtel Money, Orange Money, and M-PESA Africa —across ten African countries, with plans to expand further in the coming months. The Mobile Wallets feature simplifies the remittance process by enabling users to send money using recipient IDs such as names, phone numbers, or email addresses, reducing risks associated with traditional payment methods. The introduction of Mobile Wallets is timely, as African countries heavily rely on mobile wallets for various transactions. This new feature provides a convenient option for expatriates and international students to send money home efficiently. Revolut aims to empower individuals and families worldwide to navigate the complexities of cross-border finance with ease by continuously adapting to the evolving needs of the digital economy. #Revolut #InternationalTransfers #MobileWallets #AirtelMoney #OrangeMoney #MTN #MPesa #Africa #DigitalWallets #Remittance #CrossBorderPayments

Revolutionizing finance: The rise of Revolut 🔸 Product expansion From Portugal to Singapore, the digital banking giant is spreading its wings. With a new branch opening in Portugal and the acquisition of a Portuguese IBAN, #Revolut is stepping into the heart of national banking systems, aiming to redefine what it means to be a primary bank. For customers in Ireland, Revolut introduces an innovative eSIM card, revolutionizing the way they stay connected while traveling. Plus, with the launch of #MobileWallets in Singapore, direct transfers to Bangladesh and Kenya are just a tap away. 🔸 Digital banks: Amidst the evolving landscape of digital banking, Revolut continues to demonstrate impressive growth and profitability. In contrast, traditional institutions such as HSBC face challenges in gaining momentum with new offerings. Revolut's sustained success in markets like Singapore reflects its agility and customer-centric approach, reaffirming its leadership in the global fintech arena. 🔸 Tech and innovation: The Robo-Advisor represents a significant leap forward in automated investing solutions. This tool empowers users to optimize their investment strategies with minimal effort, catering to both seasoned investors and newcomers alike. By leveraging cutting-edge technology, Revolut is democratizing wealth management and fostering financial inclusivity. Join us for an exclusive exploration of Revolut's latest initiatives and their implications for the future of finance: https://lnkd.in/dq7DaWph C-Innovation members can access the file here: https://lnkd.in/dwFxRVZe #DigitalBanking #CInnovation #FintechInsights #FintechInnovation #DigitalBanking #FinanceInsights #BankingRevolution #DigitalTransformation #BankingInnovation #FinancialGrowth #Finance #Banking #NeoBanking #FinancialServices #Fintech #BankingNews #TechInFinance #FinancialNews

Revolut has now set its sights on Mexico. After securing a coveted banking license from the National Banking and Securities Commission, the company is all set to establish itself as a multiple banking institution in Latin America’s second-largest economy. With already around 40 million users worldwide, Revolut has a specific objective in Mexico: the cross-border remittance market, which was valued at $63 billion last year. But the vision doesn’t stop there. The company plans to offer a wide range of financial products and services for its Mexican Clientele. The Mexico launch comes just one year after Revolut entered the market in Brazil, offering a global account complete with foreign exchange capabilities and seamless remittance services across 27 different currencies. (image by PYMNTS) #revolut #fintechinnovation #digitalinnovation #financialservices #techinfinance

🚀 Breaking into the #GCC Market! Revolut Eyes #UAE & #KSA Expansion ! Revolut is gearing up to make a big splash in the Gulf! 🌊 As one of the world's fastest-growing fintech unicorns, Revolut's revenue doubled to $2.2 billion in 2023, and with 45 million customers globally, it's now setting sights on the 🇦🇪UAE and Saudi Arabia 🇸🇦🌍. Here’s what you need to know: 🌐 Mubadala, Abu Dhabi sovereign fund, has taken a stake in Revolut for the first time, participating in a share sale that last month secured a $45bn valuation and makes its entry to the region more likely. 🏗️ Global Growth: From 2022 to 2023, Revolut's customer base surged by 12 million, reaching 45 million users by mid-2024 and its 2023 revenue hit $2.2 billion, a 100% jump from $1.1 billion in 2022. 🔓 The fintech received a long-anticipated #UK 🇬🇧 banking licence in July, which it hopes will allow it to secure further regulatory approvals in key markets including the #US 🇺🇸 . It also has an EU banking licence from authorities in Lithuania and was granted one in Mexico 🇲🇽 this year. 🌍 Regional Strategy: With the #UAE and #Saudi Arabia rapidly becoming fintech hubs, Revolut’s entry into the region promises to revolutionize the landscape, offering innovative cross-border payment solutions and digital banking features as well as increasing financial inclusion, innovation, and competition i 🎯. Your Thoughts? What impact will this expansion have on the region's digital economy? Let's discuss!👇 #Fintech #CrossBorderPayments #DigitalBanking #Revolut #UAE #SaudiArabia #GlobalExpansion #GCC #FintechNews #DigitalTransformation #BankingInnovation #MiddleEastFintech #FutureOfBanking

Discover New Payment Corridors: Europe and Africa Now Connected via Revolut's Service Upgrade Revolut has launched new payment corridors between Europe and Africa, allowing customers from the UK and European Economic Area (EEA) nations to employ Mobile Wallets and remit funds to four different mobile wallets prevalent in ten African countries. The four wallets include M-Pesa, Airtel, Orange Money, and MTN. As part of Revolut's expansion strategy, additional wallet routes will be unveiled in the upcoming months. The new service aims at providing simple, affordable, and convenient international money transfer solutions, in line with the evolving digital economy and cross-border finance complexities. This move is set to impact markets heavily reliant on Mobile Wallets, positioning Revolut as an efficient payment alternative for African expatriates and students overseas. #Revolut #MobileWallets #EEA #MPesa #Airtel #OrangeMoney #MTN #InternationalMoneyTransfer