Key growth figures for Revolut bank Group UK 2018

Incorporated in December 2013, the London based challenger bank Revolut has grown exponentially. In February 2018, the London based company Revolut announced that they had hit 1.5 million customers, a figure that had grown to 8 million by December, 2019. Currently Revolut has the highest number of customers of any European online bank.

Revolut

Revolut has two main pillars of intention as a company. The first is to create a single platform that fulfils the financial needs of its customers. The second target is for the bank to become truly global. Currently Revolut's products are supported across 36 countries worldwide. Revolut has seen huge growth between December 2017 and December of 2018 in customers, daily users, revenue and business users.

Disruptors

Banking and financial services are typically among the first industries to embrace technological advances; starting as far back in time as the appearance of automated teller machines (ATMs) and credit cards. Ever since the first secure Internet systems for financial operations became available on a large scale, accessing of one's bank account online to carry out transactions, pay off credit cards, establish credit lines or invest savings became one of the fastest growing areas of Internet activities. The penetration of online banking in Great Britain has been excelled in part to the agility in which challenger banks can adapt and evolve as well as their ability to attract large amounts of funding. In terms of market value, Revolut is one of largest online banks in Europe.

Percentage of growth for key figures for Revolut Bank Group in the United Kingdom (UK) between December 2017 and December 2018

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Sources

Release date

October 2019

Region

United Kingdom

Survey time period

December 31, 2018

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