Revolut prepares its positioning in the private bank

This is a new step in Revolut's strategy. The British neo-bank has published new job offers on its recruitment page. These offers concern posts dedicated to a new private banking team. Fintech's positioning in the private banking market seems to be now becoming a reality.

FACTS

• Revolut is currently working on the construction of a private bank offer.

• The neo-bank is now seeking to recruit specialists in this sector, in order to address new services to the specific target of the most wealthy, categorized as high-net-worth individuals (HNWIs), i.e. individuals whose liquid assets exceed $1 million.

• Job cards seem to have to allow Revolut to enrich its teams on this topic. For example, the job description of a future private bank legal advisor (required by Revolut) states that he or she will be responsible for:
  • the launch of investment products and services,
  • legal and regulatory issues related to such offers.

• The information is therefore confirmed by the publication of specific job offers on Revolut's career site, but also by a spokesperson for the neo-bank who stresses that the private bank is indeed an area of current exploration for Revolut.

• However, the neo-bank has not yet chosen to communicate on this subject more formally.

ISSUES

• Open client base : Revolut partyed already, in 2020, the 3 years of its entity Revlout Business dedicated as its name tells professionals. Established in 2015, the neo-bank has placed at the heart of its strategy its ambition to diversify its range of services to meet the needs of a broad target. Today it confirms its ambitions by looking at that of private bank customers.

• Consolidate its super-app status : Revolut completes today the construction of its complete modelAlternative banking on the European market. His ambition to impose himself as a super-app today bears its fruit, its diversification having favoured its profits.

• To be imposed on a competitive market Revolut is not the only FinTech to be interested in the market for the most wealthy customers. Last August, it's Lithuanian fintech. Bourgeois Boheme (BoBoBo) which raised €6.5 million to support the deployment of its platform, presented as innovative, and intended for wealthy individuals.

PERSPECTIVE

• It was at the end of 2024 that Revolut pointed out that it had exceeded 50 million customers in total. The neo-bank now operates through 38 markets. The UK, its home territory, accounts for some 10 million customers.

• In spite of past difficulties, Revolut has been able to recover obtain a UK banking license and eventually become the most downloaded financial application in the UK.

Traduit automatiquement via Libretranslate / Automatically translated via Libretranslate