Revolut, the UK-based neobank, introduced on April 1 that over a million non-public clients in Switzerland at the moment are utilizing its providers.
The corporate opened a neighborhood workplace in Switzerland simply final 12 months, which now permits it to have interaction instantly with purchasers within the nation.
Up to now, Revolut has attributed its progress to natural elements, pushed by referrals and phrase of mouth slightly than large-scale advertising campaigns.
As finews.com reported, the corporate’s enlargement has been primarily by way of this natural method.
Roughly one in six Swiss residents between the ages of 20 and 64 has signed up with Revolut.
For comparability, native banking group Postfinance has roughly 2.5 million buyer relationships in Switzerland, although the variety of actively used accounts is unclear.
As just lately as December, Revolut confirmed a Swiss person base of 900,000, with plans so as to add 250,000 new purchasers yearly.
With the brand new milestone of 1 million clients, it seems the corporate is properly on monitor to satisfy that concentrate on.
“Reaching a million non-public purchasers in Switzerland is a testomony to the worth we offer our clients,”
mentioned Julian Biegmann, Basic Supervisor for Switzerland.
“We’re dedicated to the Swiss market and targeted on providing tailor-made monetary options that meet the evolving wants of our clients”
Biegmann pointed to the corporate’s current introduction of Swiss digital IBANs, QR-code funds, and entry to funding merchandise. He added that Revolut plans to roll out extra merchandise for Swiss customers within the coming weeks.
Revolut additionally reported important progress in app utilization, with the variety of transactions rising by 33 % in 2024.
The overall transaction quantity rose by 35 %, and within the first quarter of 2025 alone, the app processed 53.1 million transactions – practically double the 27.7 million recorded in the identical quarter of 2024.
Roughly half of these had been home transactions, whereas the opposite half had been worldwide, highlighting Revolut’s rising position in on a regular basis funds akin to groceries and payments.
Revolut additionally introduced new options for native clients, together with entry to equities, ETFs, and cash market devices alongside Swiss IBANs, with extra instruments and providers anticipated to comply with quickly.
Based within the UK in 2015, Revolut now has greater than 50 million clients worldwide and processes over 800 million transactions per thirty days.
In January 2024, the Swiss Monetary Market Supervisory Authority (FINMA) granted approval for Revolut Financial institution UAB and Revolut Securities Europe UAB to ascertain an official consultant workplace in Zurich beneath the identify Revolut (Switzerland) AG.
The entity turned operational in July 2024, enabling each companies to supply their providers to native purchasers.
Rumours proceed to flow into that Revolut has utilized for a full Swiss banking licence with the native regulator, FINMA, though the corporate has thus far declined to remark.
Featured picture credit score: edited from freepik