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New Revolut Chief Aims for 15 Million Customers in Poland
🇵🇱 Poland /Economy & Trade

New Revolut Chief Aims for 15 Million Customers in Poland

From Rzeczpospolita · () Polish

Translated from Polish, summarized and contextualized by DistantNews.

At a glance

News Sources not specified Context piece
  • Revolut has appointed a new head for Europe, aiming to expand its customer base in Poland to 15 million.
  • The company, which has operated in Europe for nearly a decade, is now considered the largest retail bank in Europe by customer numbers and is seeking to integrate further into the Polish banking sector.
  • Revolut plans to open a branch in Poland, allowing it to participate directly in payment systems and partially fall under the supervision of the Polish Financial Supervision Authority.

Revolut is setting ambitious goals for its European operations, with a particular focus on Poland. The company aims to reach 15 million customers in the country, signaling a significant expansion strategy. This move comes as Revolut solidifies its position as Europe's largest retail bank by customer count, having operated in the region for nearly a decade.

Revolut is no longer a fintech, since 2018 it has been a bank, which is directly supervised by the European Central Bank, one of the most demanding supervisors in the world.

— new head of RevolutThe new head of Revolut discusses the company's transition from a fintech to a fully regulated bank.

The company's new European head, who brings extensive banking experience from institutions like Chase and mBank, emphasized that Revolut is no longer just a fintech but a fully regulated bank under the European Central Bank's supervision. This transition signifies the company's maturation and its commitment to operating within established financial frameworks.

We will operate based on a European license, but as in many other countries in Europe, we also plan to open a branch in Poland.

— new head of RevolutThe new head of Revolut outlines plans for the company's operations in Poland.

Revolut plans to open a branch in Poland, which will allow it to function more like a local bank. This includes direct participation in all payment systems and partial oversight by the Polish Financial Supervision Authority (KNF). The company is also actively seeking to join the Polish Bank Association, further integrating itself into the national financial ecosystem.

Revolut is currently among the top 5 largest banks in Poland in terms of customer numbers, we already have over 5 million, and by the end of the year we are aiming for 6 million.

— new head of RevolutThe new head of Revolut highlights the company's significant customer base in Poland.

With over 5 million customers in Poland and a target of 6 million by year-end, Revolut views the Polish market with significant seriousness. The company sees vast potential for growth, not only in acquiring new customers but also in expanding its product offerings to include investment, savings, and credit services. It is also exploring new customer segments, such as business clients and small entrepreneurs, indicating a comprehensive strategy for deepening its market penetration.

The potential is still huge, I would say that Revolut is actually at the beginning of its journey.

— new head of RevolutThe new head of Revolut expresses optimism about the company's future growth prospects.
DistantNews Editorial

Originally published by Rzeczpospolita in Polish. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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