The fintech company Revolut, headquartered in London, is focused on New Zealand as part of its ongoing international expansion.
It is worth noting that the mentioned firm already offers services to customers in the specified country. The company’s new intentions regarding New Zealand are related to the desire to start providing banking services here. The most important legal step towards the appropriate goal is applying for a banking license from the Reserve Bank of New Zealand.
In a press release from the fintech company, it was noted that obtaining a banking license will allow Revolut to become the first global digital bank on the market. In this case, the firm will be able to continue to provide innovative and essential financial services that meet the needs of New Zealand consumers. It was also noted in the press release that residents of the mentioned country have long been underserved by traditional banking players. Expanding operations in New Zealand will allow Revolut to offer local consumers interest-bearing savings products and a broader range of credit options tailored to empower them and enhance their financial management.
Revolut was launched in New Zealand last year. Since then, and as of today, the fintech company has processed transactions in this country totaling about $206 million.
In May, Charlie Short, head of growth at Revolut, stated that the firm is committed to accelerating growth in countries such as Singapore, Australia, and New Zealand.
In September, the fintech company was exploring the possibility of expanding its business in the Gulf Cooperation Council (GCC)-member countries. It is worth noting that Revolut did not detail this information.
As we have reported earlier, Revolut Faces UK Fraud Lawsuit.
