Europe’s neobanks are switching their attention to small business banking and expansion in the US, as they strive for global scale and profitability.
Business banking will soon be a bigger revenue earner for UK neobank Revolut than retail clients, which already number about 10 million, according to its head of business Vaidas Adomauskas.
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Vaidas Adomauskas, |
“We are the profit-generating side of the business,” he says, adding that Revolut will increase its number of business clients by four or five times by 2020, reaching well over a million.
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