Revolut - aiming at a new banking system
Banking Frontiers|August 2021
Revolut is real revolution in international banking. For, it is simplifying the way we do banking:

London-based fintech firm Revolut is now one of the world’s fastest-growing digital banking and payments startups, holding a world record as well - it has a 24-billion-pound valuation in its latest funding round, which means it is more valuable than Britain’s top bank NatWest. Started about 6 years ago, it is now worth $33 billion, a sixfold increase on the $5.5 billion the company was worth in 2020. It raised $800 million in its latest funding round - from Japan’s SoftBank and New York-based Tiger Global Management. The neobank, which offers banking and trading services through an app, has 15 million users across 35 countries, who avail of its services predominantly in currency exchange, current account, and crypto-currency services, using its over 30 in-app currencies. However, it does not have a formal banking license from the UK regulators, though it has a European banking license.

Revolut was founded by a former Lehman Brothers trader Nik Storonsky and software developer Vladyslav Yatsenko. After the latest round of funding, Storonsky has said Revolut will use the investment to expand into the Indian and US markets. It has already set up an Indian unit and appointed a chief executive. It has also announced that it will be making a multi-million-pound investment in India over the next 5 years and has committed itself to the creation of 300 new jobs.

Continue reading your story on the app

Continue reading your story in the magazine

MORE STORIES FROM BANKING FRONTIERSView All

How WFH Challenge Driving Family Focus!

While many felt the ‘work-from-home’ norm could be beneficial in terms of time and effort, it is actually taking a toll on the mental health of several people who find loneliness, lack of social interactions and pressures at home front impacting their wellbeing. Corporates are actively putting solutions in place:

10+ mins read
Banking Frontiers
September 2021

Aggressive on Digital, Conservative on Social

Abhinav Angirish points out that his clients can also transact through WhatsApp or email by a simple approval system

3 mins read
Banking Frontiers
September 2021

Dawn of New Strategies

Multi-pronged asset strategy, diversified liability approach, and a fresh technology design and blueprint in place, NBFCs have redefined their strategy to take on the competitions concluded the panel discussion held as part of the NBFC’s TOMORROW series by Banking Frontiers.

6 mins read
Banking Frontiers
September 2021

Cloud tech fuels NBFC growth

As part of the NBFC’s TOMORROW conference, Banking Frontiers hosted a high powered panel discussion titled ‘Extracting the real Value from Cloud to Drive Digital Transformation and Business Growth’.

6 mins read
Banking Frontiers
September 2021

MPGB: Business up, NPA down

Sushil Sharma resolves to continue the flagship financial inclusion program with focus on opening accounts from every household to every adult

3 mins read
Banking Frontiers
September 2021

AP StCB's Record Business Growth in Covid FY

The southern apex level bank is planning expansion in its branches and ATMs in the current FY:

3 mins read
Banking Frontiers
September 2021

LMS rising to the next level

Industry experts discuss the approaches & actions required to modernise LMS software:

7 mins read
Banking Frontiers
September 2021

PSBs, RRBs excel in opening APY accounts

Now the government employees will have the facility to register online in NPS and generate PRAN through eNPS:

7 mins read
Banking Frontiers
September 2021

VFS emphasizes digital at the field level

Kuldip Maity says the digital loan origination system has almost halved the turnaround time in sanctioning and disbursement of loans

5 mins read
Banking Frontiers
September 2021

One-page Banking Experience

Kotak Mahindra Bank acquires about half a million customers digitally every month, powered by extensive use of AI and internet:

5 mins read
Banking Frontiers
September 2021
RELATED STORIES

How to Take Down Goliath

The biggest companies can still be taken down by the smallest startups. Here are four strategies disruptors use to fight their way up.

5 mins read
Entrepreneur
January - February 2021

Capital, Connections, And Community

Solomon Ali: The Biggest Name You’ve Never Heard

4 mins read
Innovation & Tech Today
Fall 2019

Prince Mohammed's Revolution Takes An Ominous Turn

Saudi Arabias would-be reformer is snared in warfare and caught up in diplomatic outrage

9 mins read
Bloomberg Businessweek
October 15, 2018

Inside a Plot to Overthrow the President of the Gambia

What happened when 11 audacious exiles armed themselves for a violent night in the Gambia.

10+ mins read
The Atlantic
March 2016

पंडित उपाध्याय : विचार ही नहीं, व्यक्ति-क्रांति के प्रेरक

एकात्म मानववाद के प्रणेता पंडित उपाध्याय का मानना था कि अपनी सांस्कृतिक संस्कारों की विरासत के कारण भारतवर्ष विश्व गुरु के स्थान को प्राप्त करेगा। पं. दीनदयाल द्वारा दिया गया मानवीय एकता का मंत्र हम सभी का मार्गदर्शन करता है। उन्होंने कहा था कि मनुष्य का शरीर, मन, बुद्धि और आत्मा ये चारों अंग ठीक रहेंगे तभी मनुष्य को चरम सुख और वैभव की प्राप्ति हो सकती है।

1 min read
Uday India Hindi
October 03, 2021

स्वतंत्रता के वास्तविक लक्ष्यों का प्रश्न

एक पक्ष अगर अपने मूल भारत के लक्ष्य से संघर्ष कर रहा था तो दूसरे का लक्ष्य अंग्रेजों को भगाकर स्वतंत्रता प्राप्त करना था। इन सबका बलिदान एक ही श्रेणी का था, लेकिन दृष्टि और लक्ष्य अलग-अलग थे। अगर स्वतंत्रता के 75वें वर्ष का मूल्यांकन इस आधार पर करें कि 15 अगस्त 1947 को अंग्रेज जिस दुरावस्था वाले भारत को छोड़ कर गए थे, उसकी तुलना में आज हम कहां खड़े हैं तो ज्यादातर मानक हमारे अंदर गर्व का अनुभव कराएंगे। आर्थिक, सामाजिक, शैक्षणिक, वैज्ञानिक, यातायात, संचार, रक्षा, सुरक्षा, प्रशासन, हर क्षेत्र में हम आज उन पायदानों पर खड़े हैं, जिसकी कल्पना आजादी के समय विश्व तो छोडएि, स्वयं भारतीयों को नहीं थी। 193 करोड़ रुपये से पहला बजट पेश करने वाला भारत 27 लाख करोड़ के बजट वाला देश बना है तो कल्पना की जा सकती है कि कितनी बड़ी छलांग हमने लगाई है। 1962 में चीन के हाथों अपमानजनक पराजय झेलने वाले देश ने पिछले वर्ष गलवान घाटी में चीनी सैनिकों को जिस ढंग से मुंहतोड़ जवाब दिया, उससे बड़ा उदाहरण एक महत्वपूर्ण रक्षा शक्ति बन जाने का दूसरा नहीं हो सकता। पहले इंदिरा गांधी और फिर अटल बिहारी वाजपेयी ने नाभिकीय परीक्षण करके पूरी दुनिया को चौंका दिया तो नरेंद्र मोदी ने उपग्रहों को नष्ट करने की शक्ति का परीक्षण करके। स्वतंत्रता के समय अंग्रेजों सहित पश्चिमी विद्वानों ने भविष्यवाणी कर दी थी कि भारत में कभी संसदीय लोकतंत्र सफल नहीं हो सकता।

1 min read
Open Eye News
August 2021

A Revolution In The Making

Scientists will soon have the tools to rewrite the book of life, and in doing so, edit out sections that cause disease, piece by piece. But is the technology safe and will all of us get the benefits, or will it be the preserve of those who can afford it?

10+ mins read
BBC Focus - Science & Technology
August 2021

क्रान्तिकारी पुरोधाओं का अप्रतिम बलिदान

आज भारत को आजाद हुए 70 वर्ष से अधिक हो चुके हैं। जिस आजाद भारत में हम सांस ले रहे हैं उसके लिए एक लंबा संघर्ष चला था। कई शूरवीरों के बलिदान के बाद हमें यह सुरव प्राप्त हुआ है।

1 min read
Sadhana Path
August 2021

भारतमाता के वीर सपूत स्वातंत्र्यवीर सावरकर

अप्रितम क्रान्तिकारी, दृढ़ राजनेता, समर्पित समाज सुधारक, दार्शनिक, द्रष्टा, महान कवि और महान इतिहासकार आदि अनेकानेक गुणों के धनी वीर सावरकर हमेशा नये कामों में पहल करते थे। उनके इस गुण ने उन्हें महानतम लोगों की श्रेणी में उच्च पायदान पर लाकर खड़ा कर दिया ।

1 min read
Kendra Bharati - केन्द्र भारती
May 2021

Iran urged to deliver justice on downed Ukrainian plane

On the first anniversary of the crash, Ukraine and other nations jointly call for ‘a complete and thorough explanation including concrete measures to ensure that it will never happen again’

3 mins read
Gulf Today
January 09, 2021