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Revolut – Best Business Banking Innovation of 2019

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With their legacy thought process and systems Banks were caught flat-footed which has allowed FinTechs such as Revolut to disrupt every aspect of banking with freedom, pace, energy, adaptability and flexibility. With their focus on singular use case solutions, FinTechs have the ability and opportunity to think narrow and deep.

Such is the case with Business Banking – Traditionally thought of as stuffy and cumbersome, a few FinTechs (such as Revolut and Holvi) have managed to disrupt Business Banking with such pace and adaptability that completely reshaping how we view the business banking relationships.

2 things that have emerged from Revolut are:

1. Consumer-Centricity

Banks are still in the early stages of customer-oriented solutions while FinTechs such as Revolut and Holvi have managed to offer products and services through non-traditional channels that empower customers a great extent.

The increased competition within the banking industry and startups precipitated by the rise of FinTech has indirectly resulted in the creation of better, more convenient products and services for their customers.

2. Platform Banking and digital ecosystems

Integration of non-banking products into the banking ecosystem has become the norm. Cooperation with third-party providers is now an important factor for providing a wide range of services and products. Other forms of partnerships include a shift towards API Integration as more challenger banks promote their solutions in terms of Platform Banking by using API-Based product offerings.

At first glance, it’s hard for a business owner, freelancer or self-employed person to choose between Revolut, Holvi, and all the business banking innovations.

A closer look at Revolut in 2019

Revolut tries to solve the now apparent problem of “Why Normal Business Accounts Suck”. We all know about the business banking issues of long account opening times, single currency accounts, fees for everything, poor User Experience, and inflexible accounts.

Revolut solves these business banking issues by offering:

  • Free Plans
  • Same day remote onboarding
  • Instant accounts in 28 currencies
  • International transfers at the Interbank FX rate
  • Unlimited corporate cards (virtual cards available too)
  • Powerful integrations and Open API


Revolut for Business – Features and Highlights

1.  Free Plans: Businesses


2.  Free Plans: Freelancers


3.  Sign-up in minutes, onboard the same day


4.  Instant accounts in 28 currencies – load them up in seconds


5.  Scheduled and bulk payments in a few clicks


6.  Interbank FX rate* and no hidden fees


7.  Exclusive perks and benefits worth £000s


8.  Manage all cards in one place – physical and virtual


9.  Manage your card via the app


10. Set users and permissions


11. Connect your business. Control your business.


12. Easy Accounting – Data feeds direct to Xero


13. Real time account monitoring


14. Infinite possibilities with Zapier


15. Open API – Customize to your needs


Final word on Revolut for Business

When looking at Revolut for Business from a baseline of your normal bank-issued business banking, you will be blown away.
Everything about Revolut screams “Thank god I don’t have to deal with the bank again!”
It’s extremely easy to use and for small businesses and freelancers, it’s the perfect start to business banking.

Revolut for Business gets overall 5 out of 5 for Ease of Use and Customer Care

Free Business Accounts

He has experience in developing online marketing campaigns, online & mobile product launches, and EU funding regulation. He is an active FinTech & MarTech blogger with interests in online banking, mobile banking, mobile payment, and insurance

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