Revolut: Britain's First Digital-only Bank Unicorn

Revolut: Britain's First Digital-only Bank Unicorn
Case Code: BSTR572
Case Length: 15 Pages
Period: 2000-2019
Pub Date: 2019
Teaching Note: Available
Price: Rs.400
Organization: Revolut
Industry: -
Themes: Digital Banking, Digital-only Bank Unicorn, App-based Banking, European Banking Industry, FinTech Start-up, Start-up Unicorn, Vertical-Industry Structure, E-Money, Mobile Banking, Evolution of Start-ups, Location-triggered Travel InsuranceEvolution of Start-ups, Traditional Banking
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Abstract Case Intro 1 Case Intro 2 Excerpts

The Road to a Billion Dollar Journey

In 2012, Storonsky, a former Equity Derivatives Trader at Credit Suisse and Lehman Brothers, while traveling to many places around the world, found he had to pay hundreds of pounds as foreign transaction fees and exchange rate commissions as multi-currency cards were not available at that time. This pushed him to come up with the idea of starting a FinTech company and offering multi-currency cards and other facilities to frequent travelers...

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