- WhiteSight
Revolut | Neo-Bank Strategy Deep Dive
Updated: Nov 11, 2020
Revolut: Think Big, Start Small and Scale Rapidly
This week we complete the UK Challenger Banks trifecta by covering Revolut:
š¤ Launched in 2015 as a šø money transfer app, Revolut has come a long way in a short amount of time. It has significantly expanded its portfolio of š² products and its š geographic presence and has become one of the major players in an increasingly crowded challenger bank market.
āļø Revolut's āattack vectorā for rapid šØāš©āš§āš¦ customer acquisition was originally low exchange fees when spending in a š± foreign currency, which undoubtedly fuelled much of the startupās early š growth and 𤯠mindshare, but new features and products are being added at an increasingly ā© fast pace.
š Revolut has taken a different route to š¦ banking license and mostly operates in various countries with its e-money license. This has allowed Revolut to 'Lift and Shift' its products and operations rather easily to multiple countries quickly and resulted in a massive customer base across 35+ countries.