Revolut, the international fintech bank, has officially joined the FinTech Poland ecosystem, marking a significant step toward enhancing its financial services within Poland. Known for its rapid growth, Revolut is on track to surpass 5 million customers this year, confirming the success and dynamism of its products available to Polish users.
Tomasz Jarczyk, Head of Credit at Revolut Bank for Poland and Northern Europe, expressed enthusiasm about the company's involvement with FinTech Poland, stating, "Revolut is on track to exceed 5 million customers this year in Poland. This confirms the high growth dynamics and success of our products. We are continuously increasing our engagement in the Polish market and consistently rolling out innovative services like eSIM, in-app calls, and BLIK. This way, we help clients improve their financial health and share transactions with people worldwide."
This partnership with FinTech Poland aims to not only bring innovative banking solutions to the market but also to advocate for the growth of digital finance across the sector. It highlights Revolut's ambition to become a trusted partner within the local ecosystem. Jarczyk emphasized, "Our ambition is not only to provide high-quality customer service but to be a trustworthy partner for the Polish digital finance ecosystem and support the industry’s development."
Piotr Brewiński, representing FinTech Poland, stated, "We are glad to welcome Revolut to our community – a global fintech brand used by millions of users worldwide. I look forward to their active involvement and engagement with our community activities. Collaboration and knowledge exchange are key to creating ambitious, market-responsive, and above all, safe financial products. Our collaborative efforts within the FinTech Poland ecosystem will certainly contribute to achieving this goal."
The expertise and collaborative areas between Revolut and FinTech Poland include several innovative avenues:
- Effective prevention of financial fraud: Utilizing AI/ML and innovations like in-app calls to combat fraud.
- Development of non-banking innovations: Creating value-added services, including telecommunication services like eSIM.
- Integration of payment services: Enabling transfers to global digital wallets and processing payments efficiently.
- Open banking: Assessing credit risk and offering personal financial management (PFM) services.
- Global scaling of infrastructure: Enhancing processes, products, and business models on various fronts.
Revolut holds significant potential within this partnership, leveraging its global experiences to benefit the Polish fintech market. The bank received its European banking license from the Bank of Lithuania and the European Central Bank (ECB) at the end of 2018 and now operates across 30 European Economic Area (EEA) markets, serving over 30 million clients, of which more than 4 million are based in Poland.
The company reports executing over 800 million transactions monthly across its international network of clients, demonstrating its extensive reach and operational capacity. With the latest classification of Revolut Bank UAB as a supervised bank of significant importance within the eurozone, joining the ranks of over 100 banks monitored directly by the European Central Bank, the company is poised to continue its growth and impact.
Overall, this collaboration between Revolut and FinTech Poland is anticipated to fortify the digital financial ecosystem, champion innovative solutions, and prevent financial fraud, creating safer and more efficient financial services for users. Revolut's commitment to enhancing customer experience and facilitating seamless transactions will likely stimulate growth and innovation within Poland’s financial sector.