Revolut's Revolution: The Rise of a Digital Bank

Revolut, a British fintech company, achieved a remarkable success: As a digital-only bank with the highest valuation, funding, revenues, and total deposits, it emerged as a leader of the digital revolution in banking. It adopted the best model of a bank of the future: an agile, adaptive, and datadriven ecosystem of financial services with a friendly face and excellent user experience. By prioritizing expansion over profitability and performance over the well-being of its employees, Revolut grew from a currency exchange startup to a digital bank and the United Kingdom's most valued private company in just seven years of operation. While Revolut still has a long way to measure up with the top traditional banking institutions in the United Kingdom, it has already become an alternative that challenged their market power and pushed them to compete. This case study is an in-depth analysis of Revolut' rise as a digital bank.