Revolut wants to partner with unnamed Belgian bank
British smartphone bank Revolut wants to collaborate with a Belgian bank, reported Belgian daily De Tijd without naming sources. With the collaboration, Belgian customers no longer have to hold a foreign account. The bank Revolut has set its eyes on, is not mentioned in the report.
The news is remarkable, because together with other 'neobanks', such as the German N26 or the British Monzo, Revolut is part of the new generation financial service providers challenging the classic banks. While traditional players are still clinging to old IT systems and classic, expensive office networks, the new mobile banks are firmly convinced that their apps are faster, cheaper and more user-friendly.
Revolut offers an app to transfer money abroad at low cost and to distribute prepaid payment cards. The British start-up is barely four years old and only obtained a European banking license through the regulator in Lithuania at the end of last year. But in that short period, the group grew into an international player with five million customers.
Since November last year, Revolut has also been active in Belgium. In six months, it has been able to attract 50,000 active users here, says Steven Geclowicz, the country manager for Belgium.
The goal is to bring the number of Belgian customers to 100,000 by the end of this year. To realize that ambition, Revolut will also roll out its own investment services in the coming months. In the long term, it also wants to provide loans.
Link to original source (De Tijd)