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.
- 2 things that have emerged from Revolut are:
- A closer look at Revolut in 2019
- Revolut solves these business banking issues by offering:
- 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
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:
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.