British brand Revolut begins to operate in the Ukrainian market

At the end of the year there was information about a new player that entered the Ukrainian market - a brand from Britain "Revolut". This topic immediately began to be discussed by many Ukrainian entrepreneurs, as there are questions about what impact this can have, how can the Ukrainian market change? One of the main investors in the financial sector of Ukraine is a former employee of a betting company Pari Match - Nikita Izmailov, who shared his opinion about what is happening.

What is Revolut anyway?

It is a modern banking service, and among its main products are a card and an app for mobile devices. The user has several currency accounts at once, and the use provides maximum comfort. For example, it is possible to make settlements in dollars on the corresponding account, and if funds are not available, conversion will be available. All in one program.

Now Revolut has about 16 million users, and monthly turnover reaches 150 million.

How will it develop in Ukraine and what is going on now?

Initially the brand started to expand its presence in the country and opened 25 working places. It was clear that in Ukraine there are competent and competent professionals, who in turn will make their own contributions to the development of projects. And further search for employees is planned in the near future.

The company, of course, registered its own legal entity, i.e. it is an official and legal organization.

What is of interest on the Ukrainian market?

In fact you may point out several reasons:

  • The role of the co-founder is very important. There are a lot of useful contacts and connections throughout the country for a long time. This stimulates active development and promotion.
  • The flow of money from the European states also plays its part. And now Revolut is one of the fastest and most convenient systems for money transactions.
  • Attracting an asset. Investments are only growing, allowing new markets and growth.

Difficulties in operation

Now we will compare this project with other projects. For example, Revolut is close to the leader Mono in the number of users. But the competitiveness is still not so high, and the reason is very simple: the model does not include earnings from the loan portfolio, everything is built on transactions.

And the likelihood of organizing the launch of stable and, most importantly, effective work without the participation of third-party banks is unlikely. The situation is not really simple, and we do not have our own experts. Thus, continuous cooperation of financial institutions and even an entire group is required. And it is better that the partner has a crystal-clear reputation and completely foreign capital. And there are very few such projects.

 

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