Revolut to hire around 3,500 staff to support its global expansion
By Akshay Kedari  Date: 2019-10-01

Revolut to hire around 3,500 staff to support its global expansion

The banking industry plays a vital role in offering end-to-end financial. The development of this industry is crucial as it could help with the development of a county’s economy. In order to fuel this development, companies are coming up with new products as well as expanding their businesses by mean of numerous growth strategies.

Revolut Ltd., a U.K.-based digital banking app, has recently made some developments in this field by announcing plans to recruit a total of 3,500 employees to expand in 24 new markets. A move that was possible due to its latest global deal with payment behemoth Visa.

As per reports, the deal with Visa builds on the existing agreement between the two company, and enables Revolut to expand into new markets, starting with eight new nations which consist of Japan, Brazil, the United States and Russia by end of 2019. Moreover, the company has revealed that it is planning to expand into other Asian and Latin American markets by the year 2020.

Nikolay Storonsky, Chief Executive and Founder, Revolut, said that the global expansion would enable its firm to double or even triple its users by 2020. He claims that the company's average customers has approximately 1000 euros in their account, which takes its total deposit to a balance of 8 billion euros ($8.74 billion).

Incidentally, the company has also widened its customer base by offering its latest product “Revolut youth cards” to children between the age group of 7 to 18 which will be linked to their bank account till the end of this year.

With the latest offering, Revolut’s mission to become the one-stop-shop solution for financial services is not only targeted to its product portfolio but also to its community’s age groups. This trend was first noticed when the company introduced its stock-trading feature, which was aiming to entice millennials.

Reportedly, Revolut is one of the fast-paced firms that has made an astounding growth since its launch and currently has over 8 million users. However, the recent plan to expand into new markets is still dependent on regulatory for approvals.

Source Credit: https://www.businessinsider.com/exclusive-fintech-firm-revolut-to-hire-3500-staff-in-global-push-with-visa-2019-9?IR=T

About Author

Akshay Kedari    

Akshay Kedari

A qualified computer engineering graduate, Akshay Kedari takes pride in having his way with words. Following his passion for content creation, he writes insightful pieces on aeresearch.net and a few other portals. Also endorsed with a short-term experience in web deve...

Read More

More News By Akshay Kedari

Firmenich reveals joint investment in reusable packaging company LOOP
Firmenich reveals joint investment in reusable packaging company LOOP
By Akshay Kedari

Firmenich SA, one of the leading perfume and taste companies in the world, has reportedly announced joint participation with Quadia in reusable packaging pioneer LOOP's Series A equity round. Announced at ACI’s (American Cleaning Institute)...

Huawei to install new 5G base stations to tackle spreading Coronavirus
Huawei to install new 5G base stations to tackle spreading Coronavirus
By Akshay Kedari

Huawei, the renowned Chinese telecommunications equipment and consumer electronics seller, reportedly announced that it would install new 5G base stations in Wuhan city to help tackle the breakout of Coronavirus. The company has already begun work to...

British officials advise limited role to Huawei in U.K. 5G network
British officials advise limited role to Huawei in U.K. 5G network
By Akshay Kedari

British officials have formally granted Huawei a limited role in the future 5G network of the U.K., dismissing the U.S. calls to completely ban Huawei. The U.S. had earlier accused the company of spying on behalf of the Chinese government.  Off...

Boom and Flight Research to bring XB-1 test flights to Mojave Corridor
Boom and Flight Research to bring XB-1 test flights to Mojave Corridor
By Akshay Kedari

Boom Supersonic, a Colorado based startup that is designing the fastest supersonic airliner in history, has reportedly announced a new strategic partnership deal with Flight Research, Inc., a leading provider of training, services and support activit...

DTM™ spinal cord stimulation shows superior back pain relief in RCT
DTM™ spinal cord stimulation shows superior back pain relief in RCT
By Akshay Kedari

Medtronic plc, a Dublin-based medical technology, services, and solutions company, has reportedly announced three-month results from a large, multicenter RCT (randomized controlled trial) demonstrating statistically meaningful (p=0.0009) and improved...