Digital challenger bank Revolut has partnered with Smart Pension to provide its business customers with a new retirement savings solution.

If customers sign up for a Revolut business account before April 30 2020, their employees will receive a preferential rate on their pension fees.

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In addition, through Revolut’s direct debit functionality, customers can set up pension auto-enrolment.

Vaidas Adomauskas, head of business product at Revolut, said: “Our new partnership with Smart Pension makes it easy for our business customers to meet auto-enrolment requirements for eligible members of their companies.

“Not only can account holders take advantage of this preferential rate from Smart Pension, but they can set up both a business account and get pensions up and running in minutes. This partnership is a game-changer for our customers.”

Making life easier

Will Wynne, co-founder and MD at Smart Pension, said:  “This is a great fintech partnership. Both organisations’ aim is to use technology to make life easy for people.

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“Revolut’s business account can now be used by employers across Europe to automatically pay into a workplace pension for their UK workers without hidden fees. We are excited to be opening up our tech-enabled, value-for-money workplace pensions to Revolut’s business customers.”

Throughout 2019, Revolut has offered a whole series of perks. These include discounts on brands such as Apple, Amazon Business and Google Ads.

The news comes after Revolut announced that customers can now use UK GBP account details to pay GBP Direct Debits. This means that customers will be able to manage regular payments from their Revolut account.

In addition, last month, Revolut integrated with smart thinking money app Yolt via API. Through this, Revolut customers can use Yolt to analyse all their transactions including those made outside the UK.