Revolut is a digital banking startup founded in 2015 in London by Nikolay Storonsky and Vlad Yatsenko. It offers stock trading, currency exchange, and banking services via a mobile app. Revolut targets over 15 million customers, primarily aiming to compete with legacy banks by offering transparent exchange rates and automatic currency conversion between accounts. To achieve long-term success, Revolut relies on exchange rate transparency, easy currency conversion in its app, and offering the biggest savings on exchange rates.

1. Revolut
Student ID: 12500329

2. GENERAL INFORMATION
• Founded:
– July 1, 2015
• Headquarters location:
– London, United Kingdom
• Founders:
– Nikolay Storonsky, Vlad
Yatsenko

3. PRODUCT OFFERING
• Offers free stock trading
• Helps opening the account in an easy and fast manner
• An efficient mobile trading platform

4. TARGET CUSTOMERS
• More than 15 million people use Revolut to convert
currencies and bank.
• The primary target of Revolut is legacy banks.

5. OVERVIEW OF THE COMPETITION
• Wise (International)
• Chime (USA)
• MoneyLion (USA)
• Starling Bank (UK)
• Monzo (UK)

6. REASONS FOR LONG-TERM SUCCESS
• Exchange rate
transparency.
• Converts the balance
automatically between
currencies (at the real
exchange rate)
• Offers biggest savings in
exchange rates within
the app itself.

7. REFERENCES
• Borges, G. L., Marine, P., & Ibrahim, D. Y. (2020). Digital
transformation and customers services: the banking
revolution. International Journal of Open Information
Technologies, 8(7), 124-128.
• Polasik, M., Widawski, P., & Lis, A. (2022). Challenger bank as a new
digital form of providing financial services to retail customers in the
EU internal market: The case of Revolut. In The Digitalization of
Financial Markets. Taylor & Francis.
• Cunha, P. R., Melo, P., & Sebastião, H. (2021). From bitcoin to
central bank digital currencies: Making sense of the digital money
revolution. Future Internet, 13(7), 165.
• Demirguc-Kunt, A., Klapper, L., Singer, D., & Ansar, S. (2018). The
Global Findex Database 2017: Measuring financial inclusion and the
fintech revolution. World Bank Publications.