Revolut, the London-based fintech that offers banking, crypto, stock trading, insurance, and personal budgeting tools, shared upcoming features on its 2025 roadmap at a corporate event last week. Here's what the company has in store for next year.
- An AI-powered assistant to help its 50M customers navigate the app, manage money, and customize the software.
- Branded ATMs that will dispense not only cash, but also cards, which could make the signup process easier for new customers.
- Facial recognition on its ATMs to allow users to authenticate themselves without a card or PIN code.
- Mortgages that focus on speed with a simple application process and instant approval options.
- Embedded BNPL payment options for its business customers.
- Revolut Kiosks for restaurants and stores with biometric payment capabilities.
Revolut's leadership team says they're aiming to build the world's first truly global bank, with aggressive expansion plans that include doubling their customer base to 100M and generating annual revenues of $100B.
Revolut's cofounder Nik Storonsky said, “We want to not only be number one in Europe in every single country, but also in the US, Canada, Latin America, and Asia. That's the goal.”
With respect, they might want to get their house in order first before building an extension. BBC recently found that Revolut was named in more recent reports of fraud in the last financial year than any of the major banks. BBC shared the story of a Revolut user named Jack who had lost £165k to fraud in under an hour on the platform, which Revolut refuses to take accountability for and refund. At first when reading the story, I thought — “well that was kind of his fault” — but then the details and lack of action by Revolut were astonishing.