Featured Image: Original Photo by Berit Watkin
The CEO of popular digital bank Revolut has hit out at Maltese banks, accusing them of taking advantage of their customers for years with endless banking fees and “crappy technology”.
“Revolut is here to end the party for the bankers and provide the Maltese people with an innovative, technology-first banking alternative,” Nikolay Storonsky said.
Revolut has surged in popularity since launching in July 2015, attracting over 2.5 million users across Europe, including over 25,000 Maltese customers, some 6% of the population.
It will officially launch in Malta at next month’s DELTA summit, Malta’s official blockchain and fintech summit, and has set itself an ambitious target to reach 60,000 Maltese customers by the end of the year.
Revolut’s local Country Manager, Dimitris Litsikakis, will be responsible for managing the Maltese and Mediterranean markets and will give a keynote speech at the DELTA summit.
To celebrate the launch, Revolut is offering free contactless Visa cards to all new users who open an account through this link.
The digital bank intends to revolutionise global banking, by eliminating banking fees and allowing people to send free domestic and international money transfers with the real exchange rate.
The app also comes with innovative features, such as instant spending notifications, spending categorisations, budgeting tools and enhanced security measures such as the ability to instantly freeze your card and enable location-based security.
Revolut also recently announced plans to launch a commission-free trading platform that will allow customers to invest their spare change into company stocks and bonds.