How Revolut Redefined Banking in 2024
Revolut has demonstrated its ability to translate its mission of helping to ‘simplify all things money’ from a bold statement into tangible results through the release of its 2024 Annual Report.
The report details a year of record growth, with revenue rising 72% to £3.1bn (US$4.1bn) and net profit increasing 130% to £790m (US$1.1bn).
Revolut secured its position as Europe’s most valuable private tech firm, achieving a US$45bn valuation via a secondary share sale.
Not only did its customer base grow by 38% to 52.5m, but the company also expanded its global footprint to 30 countries and submitted more than 10 new license applications.
Nikolay Storonsky and Vlad Yatsenko, founders of Revolut, say: “2024 was another landmark year for Revolut — redefining the expectations of what it means to be a truly global bank, while still feeling local.”
eBay Expands Klarna Payment Options to US Marketplace
eBay, the global online marketplace that connects buyers and sellers across multiple categories, has expanded its strategic partnership with Klarna, bringing the payment provider's flexible payment options to millions of US shoppers.
This development represents a significant extension of their existing collaboration, which began in European markets in late 2024.
The partnership expansion enables eBay customers in the United States to access Klarna's "Pay in 4" option—a system that divides purchases into four separate interest-free payments—and "Financing" for larger transactions, which provides extended payment plans for higher-value items.
This US rollout follows the successful implementation across six European markets including the UK, Austria, France, Italy, the Netherlands and Spain in December 2024.
Nationwide Building Society has chosen Visa to offer both Debit and Credit card products to its account and credit card customers.
This will be the first time Visa will support both card and account-to-account payments for Nationwide, indicating a shift towards multi-rail payment ecosystems.
Over the past five years, Visa has invested £8bn (US$10.6bn) in technology. This will mean Nationwide will gain access to digital innovation, advanced fraud protection and scalable infrastructure, maintaining security and convenience across every transaction.
The alliance will widen an existing 35-year relationship, adding a layer of trust and stability for customers and positioning both companies to adapt to new trends such as digital wallets and AI-led fraud detection.
Tom Riley, Director of Retail Products at Nationwide, says: “Expanding our partnership with Visa is an important move, as it means we can continue to provide new innovative products and services to our current and future members.
Trump Media Finalises Crypto ETF Partnership with Crypto.com
(TMTG) has confirmed the finalisation of an agreement to launch several exchange-traded funds (ETFs) through its financial technology division Truth.Fi.
The ETFs will be distributed via Crypto.com's regulated broker-dealer and will focus on cryptocurrencies and energy sector investments, according to a company statement released yesterday.
TMTG, the parent company of conservative social media platform Truth Social, entered the financial services market in January with the establishment of Truth.Fi.
The newly formalised partnership with Crypto.com, a cryptocurrency exchange that enables users to buy, sell and store digital assets, marks TMTG's official entry into the ETF market.
Fiserv Fuels Vanquis Bank Digital Transformation
Fiserv has announced a partnership with Vanquis to support the bank's technology transformation programme.
Vanquis, a specialist bank focused on financially underserved customers, will become the first institution to implement Fiserv's Vision Next platform.
Vision Next is a cloud-native processing platform that combines global processing capabilities with integrated services spanning the entire issuing lifecycle.
The platform enables financial institutions to accelerate their digital transformation efforts, respond to changing customer requirements, and deliver configurable services that align with modern market demands.
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