Comparing Revolut, Chime, and N26: Neobank Success Stories
Revolut’s success can be attributed to its comprehensive suite of financial services, including currency exchange, stock trading, crypto trading and traditional banking services. The platform’s user-friendly app, competitive fees and innovative features, such as disposable virtual cards and budgeting tools, have made it particularly popular among tech-savvy users and frequent travellers. Revolut’s ability to adapt and expand its offerings has allowed it to maintain a strong foothold in the competitive neobank landscape.
“Revolut was built around the core aim of customer-centricity,” notes Louise Potts, Head of Banking Customer Advisory at SAS UK.
Additionally, Revolut aims to enhance digital payment solutions in various sectors. Its recent partnership with Sabre has propelled its B2B payments for travel agencies, significantly streamlining transactions through virtual cards, real-time foreign exchange and API-based payment products.
“Revolut is excited to drive digitalisation in the travel sector alongside our partners at Sabre,” says Will Hannan, Global Head of Embedded Finance Sales at Revolut.
This year, Revolut also launched a new AI feature to protect against card scams. The new feature comes after NASDAQ suggested new technologies, such as AI and Large Language Models (LLMs), be implemented by banks and financial institutions after 2023 saw US$3tn of illegal funds transferred through the global financial system.
