Kangkan Halder: Revolut started as a challenger bank focused on everyday banking and payments. How has the company evolved to attract private banking clients, and what unique value does it offer this segment?
Antoine Le Nel: Revolut doesn’t offer pure private banking services--yet--but we’re already attracting high-net-worth clients with our premium financial services, and this is possibly revealing a broader opportunity for the future. Our platform provides seamless access to wealth management tools, trading (stocks, exchange traded funds (ETFs), commodities, and obligations), savings, and insurance, all with competitive fees and rates. Revolut Ultra, our elite offering, is designed for those who seek next-level luxury in banking, wealth and trading, and lifestyle services while maintaining full control and independence over their finances.
How does Revolut differentiate itself from traditional private banks in terms of wealth management and personalised financial services?
Unlike traditional banks that manage your portfolio and charge hefty fees, Revolut puts you fully in control. We democratise access to complex financial products, such as money market funds (MMFs), that were once reserved for traditional private banking clients. We believe everyone should have the opportunity to make the most of their money. Our products are simple, easy to understand, and designed to help you build financial confidence every day. Plus, with artificial intelligence-driven insights, budgeting tools and a robo-advisor, we empower you to manage your wealth independently.
Many high-net-worth individuals still prefer traditional private banking relationships. How is Revolut using technology to overcome this preference and build trust among affluent clients?
Whilst traditional banks are built around the needs of the institution, Revolut is built around the actual needs of our clients. By focussing on their real concerns and day-to-day needs, we prioritise a top-notch, 100% digital user experience, enhanced security features and greater transparency. Our technology allows us to offer better control, lower fees and time-saving solutions, which helps build trust among affluent clients who seek more than traditional private banking.
In today’s world, none of the services banks offer require physical branches.
Revolut’s core strength is its digital-first model. How does this translate into delivering high-quality banking services without physical branches?
In today’s world, none of the services banks offer require physical branches. In fact, physical branches come with long queues, limited hours and sales-driven incentives pushing their sales teams to sell the wrong products for their clients. A fully digital approach allows us to offer 24/7 client support for both urgent and basic inquiries, driving down costs for Revolut--and ultimately lowering fees for our customers. Overall, this approach ensures global accessibility, faster service and cost efficiency, making high-level financial services more inclusive and convenient.
Private banks typically charge high fees for wealth management. How does Revolut’s low-cost structure allow it to provide competitive investment and advisory services without compromising quality?
Revolut’s low-cost structure relies on its fully digital platform, eliminating overhead costs from outdated systems, physical branches and traditional relationship managers. This means we don’t need to translate these costs to customers through hidden fees or additional products they don’t really need or want. Instead, we can leverage a freemium model, allowing clients to pick and choose the services that work best for them at any given moment, without compromising on quality.
Revolut has been investing heavily in AI and automation. How is AI being used to personalise investment advice for wealthier clients?
Revolut uses AI to personalise investment advice for wealthier clients by analysing their spending habits, investment history and financial goals to offer tailored portfolio recommendations. The AI assistant provides real-time insights, such as market trends and risk assessments, while blending human expertise to ensure the best and safest outcomes. AI is leveraged across various areas, including the robo-advisor, fraud detection and customer support, to provide a seamless, comprehensive service.
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Many fintech firms offer robo-advisory services. How does Revolut’s approach stand out, and do you see it replacing traditional human advisors for private banking clients?
Revolut’s robo-advisory approach stands out by combining AI-driven insights with real-time data, offering personalised investment strategies directly through its app. We have over 50m clients and therefore that’s more data for us to analyse and learn from. Revolut doesn’t aim to fully replace human advisors for private banking clients but rather complements their expertise, catering to those who prefer tech-enabled solutions alongside personalised support for more complex financial decisions.
What wealth management and investment products has Revolut introduced to appeal to affluent customers, and are there plans to expand into more complex financial instruments?
We already offer the following: stocks, ETFs (and ETF investment plans), commodities, obligations, robo-advisor, contracts for differences (CFDs), money market funds, savings… and yes there’s more to come, soon!
High-net-worth clients are particularly concerned about security and regulatory compliance. What measures has Revolut put in place to ensure the highest levels of protection for their assets and data?
In Europe we operate under the direct supervision of the European Central Bank as any major traditional bank and work very closely with every local regulator. Revolut prioritises security and regulatory compliance by using advanced technologies to protect client data and transactions, alongside biometric authentication and real-time fraud detection systems. It operates under banking licences in several regions, ensuring strict adherence to financial regulations, including anti-money laundering (AML) and know your customer (KYC) protocols. Revolut also offers safeguards like disposable virtual cards and customisable security settings.
We democratise access to complex financial products.
Given Revolut’s rapid expansion into new markets, how do you ensure compliance with evolving regulations in private banking across multiple jurisdictions?
We have massively expanded our compliance team globally to set strict standards in every market we operate in. This includes continuous monitoring of evolving regulations, strong partnerships with local regulators for transparency, and the use of automated tools for real-time compliance checks. Additionally, we conduct regular audits to ensure we meet the highest standards across all jurisdictions.
Are there any upcoming features or innovations specifically designed to attract and retain private banking clients?
Revolut plans to expand its offerings by introducing innovative services, including mortgages which is one of our big 2025 bets, giving customers seamless access to home financing directly through our digital platform. We may also consider offering standalone private banking services in the future.
What do you see as the biggest challenge for digital-first private banking, and how is Revolut positioning itself to address it?
Revolut has already outpaced other banks in Europe with rapid customer acquisition. The main challenge now is driving the democratisation of digital-only banking, particularly getting customers to use Revolut as their primary bank and significantly increasing deposits. We aim to achieve this by delivering the best products, continuously innovating--especially in savings and credit--and reshaping banking habits. Building strong customer trust is key, which is why we’re introducing trust-driven features like ATMs, in-app calls and local points of contact to bridge the digital and physical worlds.
This article was written for the to the of Paperjam magazine, published on 26 March. The content is produced exclusively for the magazine. It is published on the site to contribute to the full Paperjam archive. .
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