Revolut Aims to Become a Global Tech Company Beyond Banking

Announcement in Turin

Revolut CEO Nik Storonsky announced the company's new strategic direction on October 9 at the Wave by Vento technology forum in Turin, Italy. According to him, Revolut no longer sees itself narrowly as a bank or a financial services provider: the goal is to develop a broader portfolio of technology products and expand deeper into global markets. It was one of the first official statements by a major European fintech openly presenting itself as a global technology player "beyond banking," Reuters reported.

The announcement came as the company aggressively pursues banking licenses in the United States, the United Kingdom, and France, while a secondary share sale brought it a record valuation. Storonsky's long-term goal is to bring Revolut to a scale comparable with the largest U.S. technology companies. This means that in the company's future development plans, financial services will cease to be the sole focus and will become part of a wider technology ecosystem. The strategic pivot shows that Revolut has in recent years moved beyond the boundaries of fintech and is stepping into artificial intelligence and consumer technology.

Proprietary AI Models and the Data Advantage

Storonsky told Reuters that the company has developed proprietary artificial intelligence models trained on customer transaction data. According to him, these models technically run on methods similar to those underlying large language models — meaning the company's own operational data is used to train them.

Revolut's platform processes 30–40 million transactions every day. Such a volume of real financial operations is a unique foundation for building AI models and gives the company a serious competitive advantage in data. Financial transactions are a live reflection of shopping habits, payment behavior, and economic activity, so a dataset of this kind is a powerful tool for adapting AI systems to real-world scenarios. Unlike large language models trained on general text corpora, Revolut's approach relies on a structured and constantly updated stream of financial operations — bringing the models closer to practical financial tasks.

According to Reuters, Storonsky emphasized that Revolut has built proprietary AI models trained on transaction data, and said the long-term goal is to reach a scale comparable with the largest U.S. technology companies.

Record Valuation and US Plans

In this year's secondary share sale, Revolut was valued at $115 billion — more than twice the $45 billion figure of 2024. At that valuation, the company became privately more valuable than traditional banking giants such as Britain's Barclays or France's Societe Generale. The secondary-sale valuation shows the company's worth has grown more than two and a half times since 2024, a rise driven mainly by global expansion plans and AI ambitions.

In September, Revolut received preliminary approval for a U.S. national bank license — following bank licenses secured in the U.K. and France earlier this year. Storonsky said that if the company ever decides to list its shares on the open market, he would prefer the primary listing to take place in the U.S. The statement confirms the company views the U.S. market as its key expansion frontier, Channel News Asia wrote. The national bank license will let Revolut offer full banking services in the U.S. and, together with its existing European authorizations, cements the company's official banking status across three major markets.

AI Shopping Agent Tools (AIR)

Storonsky also noted in an interview with Bloomberg TV that Revolut is working on AI shopping agent tools (AIR). They are scheduled to be trialled in the U.K. in December. The timeline and location are set in advance, showing the company is serious about testing the product with real users. AIR is one of the consumer products outside banking services and fits the expansion strategy directly: it is seen as a practical tool that draws on financial transaction data and AI models.

The story was confirmed by two independent sources — Reuters and Channel News Asia; the event was also covered by The Next Web. Storonsky's Turin forum appearance and his Bloomberg TV interview together show the company moving in two directions: on one hand, official expansion through global banking licenses; on the other, broadening its technology product line through AI models and consumer tools.