Revolut has launched Revolut 10 to give customers a holistic view of their finances. Specifically, the update represents a significant overhaul of the design and layout of the app. According to Revolut, switching between accounts is now cleaner and clearer. The update makes it easier for users to track their money between multiple currencies, savings accounts, pockets, and joint accounts,
Notable, a feature of the overhaul is a special focus on customers choosing to use Revolut as their primary account.
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Primary account customers up 90% in past year
Revolut has now surpassed 35 million customers globally, having announced 30 million customers in June. Revolut says that the number of customers in Europe using Revolut as their primary account is up by 90% in the past year.
Revolut has launched new products and services to help customers make Revolut their primary account. In the last year Revolut has launched Flexible Accounts for savings in 18 European countries. It has also launched joint accounts in the UK and Europe, and expanded credit products to customers in Germany, France and Spain.
Key Revolut products and features will be quickly accessible from the home screen. Tools to build wealth, explore saving and investing, and utilise lifestyle services and offers are available in one tap.
Pockets: integral to Revolut primary account growth
Pockets is another feature that is integral to using Revolut as a primary account. This has been upgraded for the latest version of the app. Pockets work like sub-accounts where customers can secure money upfront to pay for bills. Similar to Vaults in previous versions of the app, it allows customers to put money aside separate from their main account for their spending purposes and to organise their money for essentials like bills and subscriptions. The aim is to give Revolut customers control over their finances, help them to better budget, plan and organise their money.
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By GlobalDataIvan Chalov, Revolut Head of Retail, said: “Revolut 10 is the biggest step forward yet in helping our customers make Revolut their primary account. We built Revolut 10 to help customers get a clear view of their money in one place and easily navigate through favourite features and products. Built for ease, we hope the updated, clearer design helps our customers explore existing features and products they may not have known were at their fingertips.
“We know every customer is unique and has individual needs, so we’re excited to offer customisation options, including widgets, where customers can specify cards or favourite recipients straight on their home screen to move money with one tap. No matter where you are on your financial journey, Revolut can easily help you manage your money better.”
In the UK, Revolut is not signed up to the seven-day switching service. Switching rates, while on the rise, remain low in the UK. Revolut is also up against switching incentives regularly offered by its more established competitors.
