00:00Nous sommes, en fait, le premier d'Europe d'Europe.
00:04Quand nous avons un problème à crack, nous allons juste cracker.
00:07Nous allons le faire dans une façon qui est tellement innovée,
00:11que tout le monde va dire « Wow ».
00:19Bienvenue à « The Big Question »,
00:21le sérieux de l'euro-news,
00:23où nous s'arrêtons avec certains des plus grands noms dans le business.
00:27Je m'appelle Eléna Butler et aujourd'hui, je m'appelle Beatrice Cossard du Mergier,
00:32Revolute's Western Europe CEO.
00:34So, first of all, thank you for being here, Beatrice,
00:37really appreciate it.
00:38Revolute is a neobank,
00:40but can you tell us exactly what makes it different from traditional banks?
00:45A neobank is actually a bank that predominantly operates online,
00:50and what differentiates us from traditional banks
00:53is this very innovative mindset.
00:56We want to simplify the life of our customers
01:00when we provide financial services in a very innovative manner.
01:05So, always providing them with an offer which is convenient and affordable.
01:10And something that differentiates us as well from other neobanks
01:15is that we are truly global,
01:18and we are actually the first truly pan-European digital bank.
01:23And last year, Revolute was the number one finance app
01:26in 19 European countries in terms of downloads.
01:29Tell me, what is the secret to Revolute's success?
01:32So, the secret of the success is very simple.
01:35It's customer-focused.
01:36We want to be, we have been, we will be, we are extremely customer-focused.
01:41This is our only and single priority.
01:49And Revolute recently hit 65 million customers,
01:55which is incredibly impressive for a bank that's only a decade old.
01:59I wonder, can you tell me what's next?
02:03We want to hit the 100 million customer targets in 2027.
02:09For that, we will be investing 11.5 billion euro in the coming years.
02:14So, there is nothing to stop us, actually.
02:17So, we operate in 65 countries,
02:19and we have been profitable since 2022.
02:23And Europe represents two-thirds of Revolute business.
02:26We serve more than 40 million customers in all European countries.
02:32The strongest market, the largest market in Europe is France,
02:35and it's also the fastest-growing market.
02:38So, we have decided to set up in France a hub, a second hub,
02:43so based in Paris, to cover all Western European countries.
02:48Besides France, it will be Germany, Italy, Spain, Portugal, and Ireland.
02:54And do you believe that being based in those countries
02:57is going to support you in your search for banking licences,
03:01for example, in France?
03:02We already have one, based in Lithuania,
03:06and we have applied for a second banking licence
03:08to be able to cover these six Western European countries out of France.
03:13We are in the process of getting this licence.
03:16Trust in banking is just key.
03:19So, being exposed to very demanding regulators,
03:23the French one is a very demanding regulator,
03:25is actually excellent for us
03:26because it allows us to strengthen our operations globally.
03:31Some customers may still choose traditional banks over Revolute
03:35because they're worried about the security of their money.
03:38Do you still think that customers are cautious
03:42about putting large savings into Revolute accounts?
03:45Actually, Revolute has started as an e-money business
03:48and deliberately being the second bank and not the primary bank.
03:53And what we observe is that more and more
03:56we are becoming the primary bank for our customers
04:00because more and more we are proposing products and services
04:05that simplify their life, addresses their needs
04:10and we are doing it in a very consistent and innovative manner.
04:15And the growth actually is the result of that success.
04:20How does Revolute maintain its reputation though
04:23when there are safety issues that come up
04:25because I know that there have been issues of financial fraud with the app.
04:30What is Revolute doing to keep customers safe?
04:33We are investing a lot in fraud-fighting.
04:36This is a top priority for us.
04:38Out of the 13,000 people working for Revolute worldwide,
04:43about a third are working on anti-financial crime measures
04:50fighting against fin crime,
04:53fighting against terrorist financing
04:55and also fighting against fraud
04:56because all of this is totally interlinked.
04:59And because we are truly pan-European players
05:03we also have a unique visibility of some fraud patterns
05:07that happens to be, you know, cross-border
05:11because fraudsters don't care about borders.
05:13We have probably the best data scientist in the world working for us
05:17so we are developing machine learning models
05:20to identify fraud, identify fraud patterns
05:24and be in a position to cut that very upfront
05:29and to inform customers.
05:31So for example, we have developed recently a feature, an in-app call
05:35so when we notice something weird happening
05:39then there is an in-app call
05:41so that the customer can feel safe
05:43because the call comes from the Revolute app itself
05:45that say, look, this looks weird
05:47so you should be maybe careful about, you know,
05:51wiring this money from point A to point B.
05:54So we are developing a lot of awareness features
05:58on top of our own LLM models
06:01that identify fraud patterns
06:04and actually cut them from the very beginning.
06:06And I know that Revolute is looking to expand its services
06:09for example, by offering mortgages to customers
06:12what are the challenges for Revolute here?
06:16So mortgages is a way to address the needs
06:19of the customer segment
06:21which is very important for us
06:23which is 35 years old and plus.
06:26Today we've been extremely successful
06:28in the customer segment
06:31which is 18 to 35
06:33which is about 50% of our customer pool worldwide
06:38so being able to provide mortgages
06:41is a way to address the needs
06:43of the next, you know, customer segment
06:46so the challenge here
06:49is definitely that you do not grant a mortgage
06:52the same way in Germany, in Italy, in France
06:55or in Spain for example
06:57and this is due to the fact that in Europe
07:00even though there is the willingness
07:02to build a banking union
07:05you still have some harmonization to do
07:09in terms of regulation
07:11in terms of product offering
07:12we have been very successful in the past 10 years
07:15despite that
07:16so I don't see any challenge
07:18it's just as always when we have, you know
07:21a problem to crack
07:23we just crack it
07:24so we go down to the root cause
07:26and then we say
07:27look what's the best way
07:28to provide a fantastic customer journey
07:31for a French customer
07:33or for a German customer
07:34when he or she wants to buy a house
07:36and we will do it
07:37and we will do it in a way
07:39which is so innovative
07:41that everyone will say wow
07:43Sure
07:44Thank you Beatrice
07:45that's all we have time for today
07:46but it's been a pleasure
07:47having you on The Big Questions
07:49Definitely, thank you very much
07:50Thank you very much
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