revolute business model High Anya from cold brew lab and
in today's video we are discussing the business model of revolute the European
that is taking over the winter sector like a strong so in today's video we are discussing
everything you should know about it so first let's start with what is revolute revolute is
a new bank offering various Financial products to Consumers and businesses marking is existence
through a mobile application which is available both on IOS and Android devices and as a new bank
revolute does not operate any physical Branch Revolution business model is based on several
levels including different subscription plans fees for international transfers and withdrawal or
dress and all the paid on low furthermore it offers additional Financial products such as
trading bearish and sources as well as cashback program next let's get into some interesting facts
about Revenue the application was launched in the year 2015 followed by two Russians with vast
experience in financial sector which were Nick Swarovski and Vlad gets in code its headquarter
is based in London in UK revolute is UK's biggest fintech company with evaluation of more than 33
billion US Dollars the total funding raised by Revolution is more than one billion US dollars
2 000 employees manages over 15.5 million users and operates in close to 30 countries across
the globe with its presence in United States of America Switzerland the European economic area
next let's look into how does revolute work the workflow of revolute is simple it has two-wheel
customer segment the first one is the retained customer who send and receive money from their
International friends and your group and then it is the businesses that have Global operations and
want easy and cheap transactions hence it serves both b2c and B2B customer segments Revenue value
preposition allows its customers to spend 10 times less money on International transactions it offers
free fast and secure money transaction service in more than 129 countries revolute is very different
from its competitors and it uses interbanker rate service to the health of multiple currency costs
revolute is digitally enabled and therefore does not operate any physical customer branches also
offers features like transferring money to other user or bank account both domestic and globally
volts to automatically put money aside for saving purposes trading different stocks or investing in
cryptocurrency buying various insurances or getting confused to book and organize
trip for you so now you must be wondering that how does revolute make money while revolutes
banking account is free of course there are multitude of other products and services in
which the users are monetized like subscription Revenue revolute offers different subscription
plans catering both retail and Witnesses the fees in both the cases increases as per the
service that Revenue has to offer to a specific subscription plan second is enter charge fee
for every successful physical card transaction made by Revenue it takes a cut and number three
is international money transfer a customer can transfer up to 5000 pounds abroad every month
for free for anything about this amount of fees of 0.5 percent is applied on the transaction and
for customer opt-in for paid plan and monthly limit is higher and number four are the poor
when paying with your reviews card at once of the selected partner customer receive a discount if a
customer records 10 successful transactions and number fifth is Insurance revolute users can buy
two type of insurance namely device and over team medical insurance revolute offers this insurance
package through its subsidy called revolute travel limited number six in overdraft customer
can furthermore opt follow these loan range from 500 pound up to 25 000 pounds while the repayment
period between 12 to 60 months revolute makes money by the interest that is collected from each
loan offered further to summarize the overall working of Revenue we can understand it that
revenue is a digital banking system which allows customers to perform all the functionalities that
are provided by any physical Bank entity the only benefit is that this system does
not charge the user for performing international exchange transport this feature itself is Handy
and has pulled multiple small scale businesses and individual users for performing everyday
transactions if you are someone impressed by the overall working of revolute this is a great time
to step into the fintech world foreign company with a number of successful projects delivered
in printed world we are all set to brew Success With You Are you interested well if yes feel
free to get in touch with us to the link in the description below and our experts shall
connect you as soon as possible with this we come to the end of this video we shall be back
with more videos related to business World till then you take care and keep bringing new ideas
foreign