Revolut Business, the global FinTech trusted by hundreds of thousands of businesses, has published a study, conducted in partnership with Dynata, showing that international businesses are turning away from ‘legacy banks’ to manage their financial needs, echoing the sweeping changes seen in consumer banking. The findings come as the company launches Revolut Business 5, the fifth generation of its financial management platform for businesses.
The recent survey of 2,850* business decision-makers across Europe found that two-thirds (63%) of businesses believe ‘legacy banks’ are too slow for their financial needs. Nearly four out of five (79%) respondents have reported issues with ‘legacy banks’ including high fees, slow transactions and poor mobile experiences, and three out of five (64%) large businesses** are worried they’ll be left behind by competitors without FinTech support. These concerns are driving businesses toward FinTechs like Revolut, where innovation and agility are founding principles.
Revolut is reinforcing its focus to support large enterprise clients with Revolut Business 5, which provides an enhanced user experience across both mobile and desktop platforms to meet the evolving needs of industry leaders. Revolut Business has been redesigned to save enterprises more time and money.
James Gibson, General Manager at Revolut Business, said: “When we started Revolut Business in 2017, we knew that businesses wanted a product that evolved with their needs and provided a customer experience you’d expect in this day and age. The demand for customer-orientated business accounts has only increased since then. As we launch Revolut Business 5, we know we’re giving customers the ability to find features faster, spend with precision and manage payments easily. Revolut Business is continuing to grow and look forward to welcoming more customers who are fed up with the existing status quo and want a solution that moves with the technology of the day.”