Revolut boosts incentives to attract business customers

Revolut chief executive Nik Storonsky recently outlined an ambitious strategy to expand Revolut Business, aiming to position the company as the largest bank in the world.

The internal communication to staff revealed a plan to accelerate growth in the business banking segment, alongside a target to attract 10,000 new business customers.

“We want to become the largest bank in the world,” said Nik Storonsky.

The chief executive explained that Revolut Business has evolved into a major growth driver, now contributing nearly 20 per cent of the group’s gross profit while serving more than 800,000 customers.

“What started as a new bet has become one of the core engines of the organisation,” he said.

He stressed that, unlike many traditional banks which treat business banking as a secondary and stagnant activity, Revolut is elevating it to a strategic priority aimed at accelerating growth and increasing company value.

“To lead in this market, we are reshaping our operational and product strategy,” he said.

The company is focusing on faster product development, aiming to deliver enterprise-grade capabilities at greater speed while scaling existing offerings such as Titan and Revolut Pay and investing in new application programming interfaces, developer infrastructure and investment products.

At the same time, it is preparing to launch Credit for Business by 2027, expanding its product suite further into lending.

Revolut is also working on operational scaling, including the creation of dedicated teams for business growth and onboarding to strengthen support for corporate clients.

From 2027 onwards, the company intends to roll out its business offering in parallel with retail services in every new market and banking licence it secures.

In addition, the strategy introduces greater accountability across the organisation, with designated heads of business responsible for delivering key performance indicators and operational results.

“As owners of Revolut, we all have a role in achieving these ambitious goals,” Storonsky said.

He urged employees to leverage their networks of entrepreneurs and business owners, noting that the company’s workforce collectively has the potential to bring in thousands of new clients.

“For every business referred by an employee that successfully completes onboarding, a reward of £1,000 will be provided,” he said.

The message also encouraged staff to contribute ideas for future growth, signalling that the company continues to seek new billion-euro revenue drivers.

“If you have an idea, send it directly to me, James or Emil,” he said.

Storonsky concluded by emphasising the need for consistently high standards across all products as the company pursues its global ambitions.

“To achieve this, we must apply the same high standards everywhere and not settle for anything less,” he said.

المصدر: Cyprus Mail