The nobank Revolut has great ambitions in France, where it wishes to multiply the number of its customers by 8 by 2028. To achieve this, it intends to broaden its offer to Livret A and real estate loans, and display its brand in the public space thanks to points of sale and ATMs.
This is called having ambition. Passing through Paris for a basketball match (1) sponsored by his company, the boss of Revolut, Nik Storonsky, showed the color: the objective of the nobank of British origin is toreach 20 million customers in France by 2028. That is barely less than Crdit Agricole, the French retail bank with the most individual clients.
To move from its current 2.5 million customers to this incredible (and undoubtedly unrealistic) figure, Revolut has a strategy: better adapt its offer to France. Difficult, in particular, to play in the big leagues with a catalog in which two essential pillars are missing: savings and credit.
The Livret A after monetary funds
Already, Revolut launched in 2023 its flexible account, a product allowing you to place money, in just a few clicks, in monetary funds denominated in euros, pounds sterling or US dollars. With returns of up to 3.9% to 5.34% gross, depending on the currency chosen, but no guarantee on capital.
Savings: a unique alternative to the Livret A at Revolut
The next stage should be much more traditional, secure and typically French. According to The echoesRevolut is working (…) to be able to offer a Booklet to its customers in France.
Real estate credit tested this year?
On the credit side, the nobank has already started to advance its pawns. It has, in fact, a full banking license, obtained in Lithuania, which authorizes it to lend money. Its French customers, therefore, can already contract consumer credits, up to 50,000 euros. Always according to The echoesreal estate credit should also be tested during the year 2024. First in Lithuania, then in other countries, such as France.
Revolut ATMs?
Revolut’s third project is more surprising, being a company that has based its brand image on its digital know-how. The bank plans to open in France physical points of sale. Not really agencies, since the services offered there should be very limited; rather showcases, intended to raise awareness and credibility of the brand among French users. Their number, however, should be very limited, specify The echoes.
This physical presence could also be materialized through the deployment of automatic teller machines (ATM) its colors. State-of-the-art ATMs, allowing you to withdraw money using a facial identification process. France could be affected after a test phase in Spain.
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(1) The official NBA match between the Cleveland Cavaliers and the Brooklyn Nets took place on Thursday, January 11 at the Accor Arena in Paris.