Revolut, the London-based fintech unicorn, shared a few items on the company’s 2025 roadmap at a corporate event in London on Friday. One of its main focuses for next year will be the introduction of an AI-enabled assistant to help its 50 million customers navigate the financial app, manage their money, and customize the software.
Given that artificial intelligence is on everyone’s mind, the move isn’t surprising. But the AI assistant could definitely help differentiate Revolut from traditional banking services which are slower to adopt new technologies.
When Revolut launched its app nearly 10 years ago, many people discovered the concept of debit cards with real-time payment notifications. Users could also freeze the card from the app.
Many banks now let you control your card from your phone. But they are unlikely to offer AI features that are actually helpful yet.
In addition to the AI assistant, Revolut said they will roll out branded ATMs. These will dispense cash (of course), but also cards — a move that could foster new signups.
In the future, Revolut said it plans to add facial recognition features to its ATMs, which could help you authenticate without the usual card and PIN code protocol. It will be interesting to see how it implements the tech in a way that stays on the right side of European Union data protection rules which require explicit consent for use of biometrics for ID.
Revolut ATMs will start appearing in Spain in early 2025, per the company.
Revolut has had a banking license in Europe for a while, meaning that it can offer credit products to its retail customers. In some countries, it already offers credit cards and personal loans.
Now the company plans to expand to mortgages — one of the most popular credit products in Europe — with a focus on speed. If it’s a simple application, customers should expect instant approval in principle and a final offer in one business day. However mortgages are rarely straightforward, so it’s also going to be interesting to see whether Revolut is overpromising here.
Mortgages sounds like it will be a slow rollout. Revolut said it is starting in Lithuania, with Ireland and France slated to follow suit. Though all these launches are planned for 2025.
Finally, Revolut is going to ramp up its business offering in Europe with its first credit products and savings accounts. On the payment front, it will let business customers offer ‘buy now, pay later’ payment options.
For restaurants and stores specifically, Revolut will introduce Revolut Kiosks with biometric payments.
If all these features sound overwhelming it’s because Revolut has consistently fired on all cylinders on the product dev front, rapidly introducing new features. And 2025 looks no different.