Financial platform, Revolut, has operationalised its European specialised banking licence in 10 European markets. Customers in Bulgaria, Croatia, Cyprus, Estonia, Greece, Latvia, Malta, Romania, Slovakia and Slovenia who upgrade to Revolut Bank for additional services will now have their deposits protected under the deposit guarantee scheme.
Customers in the 10 eligible European countries are now able to upgrade to Revolut Bank for additional services from within the app, which, according to Revolut, will provide customers with more control, value and security than traditional banks.
Last year, Revolut also launched its specialised bank in Poland and Lithuania, and started offering competitive credit products in both countries. The specialised bank licence allows Revolut Bank to provide limited banking services via the Revolut app along with an array of financial services and products offered by other Revolut Group companies.
To date, Revolut Group has raised almost $1 billion in investment and was most recently valued at $5.5 billion. In just five years, Revolut has attracted more than 15 million customers around the world.
Launching the bank in ten new European markets will provide a greater level of security and confidence for our customers, and will enable us to launch a host of new products and services in the near future.
Virgilijus Mirkės, CEO, Revolut Bank