Revolut Singapore gearing up to expand offerings

Goal is to allow every person and business to 'do all things money' in a few taps: CEO

- Claire Huang

Revolut Singapore's chief is gearing up to expand beyond the fintech firm's current offerings of remittances, payments and investments, as he pushes on with his mission to simplify people's financial lives here.

Chief executive Raymond Ng, who took over the reins 2 1/2 years ago, has a series of ideas in the pipeline that include partnering with Alipay so that transfers to China become easier, as well as the addition of five more currencies to its list so people can transact in them.

For businesses, the firm plans to introduce more features to its platform with a focus on savings and investment products, as well as merchant solutions so firms can accept card payments online, directly into their accounts.

The British financial group is also looking to attract the wealthy segment and is toying with the idea of credit products.

The timeline of his plans is not known yet but Mr Ng, 57, told The Straits Times in an interview that the goal is to let every individual and business in Singapore "do all things money" in a few taps, including spending, saving, investing and even borrowing. It is why the firm launched on average a new product or service every 1 1/2 months in Singapore in 2024.

In August 2024, it beefed up benefits for some users here, and introduced in January its own robo-adviser service.