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revolutionThe London-based fintech unicorn shared some elements about the company’s 2025 roadmap at a corporate event in London on Friday. One of its main focuses for next year will be introducing an AI-powered assistant to help its 50 million customers navigate the financial app, manage their money and customize the software.
Since artificial intelligence is on everyone’s minds, this move is not surprising. But an AI assistant could certainly help differentiate Revolut from traditional banking, which is slower to adopt new technologies.
When Revolut launched its app nearly 10 years ago, many people discovered the concept of debit cards with real-time payment notifications. Users can also freeze the card from the app.
Many banks now allow you to control your card from your phone. But they’re unlikely to offer AI features that are actually useful yet.
In addition to the AI assistant, Revolut said it will roll out branded ATMs. This will distribute cash (of course), but also cards – a move that could boost new sign-ups.
In the future, Revolut said it plans to add facial recognition features to its ATMs, which can help you authenticate without the usual card and PIN protocol. It will be interesting to see how the technology is applied in a way that stays on the right side of EU data protection rules that require explicit consent to use biometrics for identification.
Revolut ATMs will start appearing in Spain in early 2025, according to the company.
Revolut has held a banking license in Europe for a while, meaning it can offer credit products to its retail clients. In some countries, credit cards and personal loans are already offered.
The company now plans to expand into mortgages – one of the most popular credit products in Europe – with an emphasis on speed. If the application is simple, clients should expect immediate approval in principle and a final offer within one business day. However, mortgages are rarely straightforward, so it will also be interesting to see if Revolut is overpromising here.
It looks like mortgages are going to be slow. Revolut said it will start in Lithuania, with Ireland and France set to follow suit. Although all these launches are planned for 2025.
Finally, Revolut will ramp up its business offering in Europe with its premier credit and savings account products. On the payment side, it will allow business customers to offer “buy now, pay later” payment options.
For restaurants and stores specifically, Revolut will offer Revolut kiosks with biometric payments.
If all of these features seem overwhelming it’s because Revolut is constantly firing on all cylinders on the product development front, introducing new features quickly. And 2025 looks no different.
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