Good News for the FinTech Jobs Market as UK FinTech Giant Revolut are set to hire 3,500 staff as it expands Globally
According to a recent report on the Business Insider website, the British base digital Banking App Company Revolut are hiring 3,500 staff as it aims to break in to 24 new markets thanks to a new deal with payments giant Visa. Great news for those already working in the FinTech Jobs Sector in the UK looking for a change or for graduates looking to develop their Fintech Careers.
Revolut, one of a breed of new digital-only account providers taking aim at traditional high street banks, has grown at breakneck pace since its launch in July 2015 and now boasts more than 8 million customers.
The deal with Visa expands an existing agreement between the two firms and will see Revolut expand from its current markets of Europe and Australia into new territories. FinTech Unicorn Revolut will open in eight new countries including Brazil, Japan, Russia and the US by the end of this year.
Revolut will then launch in other Latin American and Asian markets next year, its chief executive and founder Nikolay Storonsky told Reuters.
“We are around 1500 people now and by summer next year we plan to be around 5000,” he said.
Once Revolut gets the necessary regulatory approvals it is all systems go for the FinTech Company.
As part of the deal at least 75% of all Revolut cards will carry the branding of Visa as opposed to that of rival Mastercard Inc.
The global push could see Revolut double or triple its customers in the next year, Storonsky said.
He told Reuters that Revolut’s average customer holds around 1000 euros in their account, giving a total deposit balance of around 8 billion euros ($8.74 billion) currently, a minnow compared to global banking giants like HSBC and JPMorgan with trillion-dollar-plus deposit totals.
FinTech Companies like Revolut have shocked incumbent Banks
Companies like Revolut have shocked incumbent Banks into upping their digital game, as customers begin to favour Financial technology savvy companies with their advanced apps and money management tools.
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