Revolut

Most scams reported to finance app Revolut Ltd. in the UK last year started their journey on Meta Platforms Inc. social media, with most money lost to “get-rich-quick” investment schemes. The London-based fintech found 60% of UK scam cases came from Facebook, Instagram and WhatsApp, dwarfing other platforms and frauds conducted by telephone. Revolut found a similar trend across Europe, where 61% of scams originated on Meta services.Woody Malouf, Revolut's head of financial crime, said Meta platforms were “being used as a…

HSBC has launched a new product called Zing focused on international transfers to better compete with fintech companies like Wise (formerly TransferWise) and Revolut. Bloomberg wrote that the app was on its way to the App Store and Play Store a couple of days ago. It is now officially out, so let’s have a look at what HSBC offers and if it’s indeed a competitive service. Zing is completely separate from HSBC’s existing banking products. You don’t need an HSBC bank account to use Zing. Zing also has a completely…

British online bank Revolut Ltd. reported a 45% jump in revenue for 2022 and a pretax loss in its delayed 2022 accounts.The London-based fintech said revenue for the year rose to £922.5 million ($1.2 billion), while pretax loss was £25.4 million ($32.2 million), down from a profit of £39.8 million the previous year.Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteIndian School of BusinessISB Digital TransformationVisitIndian School of BusinessISB Product ManagementVisitIIM LucknowIIML…

Fintech company Revolut's revenue rose to a record 923 million pounds ($1.1 billion) in 2022, helped by interest income growth, but net profit fell sharply to 6 million pounds, the company said in delayed annual accounts on Friday.Revolut, which ranked as the UK's most valuable start-up with around a $33 billion valuation in 2021, has applied for a UK banking licence but is still awaiting approval.Elevate Your Tech Prowess with High-Value Skill CoursesOffering CollegeCourseWebsiteMITMIT Technology Leadership and…

What are neobanks worth? That’s a question on many people’s minds, especially the investors and employees of the richly valued fintechs that have been waiting for IPOs to make a comeback. Overall, neobanks mostly seem to be doing OK, especially those across the pond. But new data from a venture capital firm indicates that at least some investors are still sorting out how to value them: U.K.-based Revolut saw its valuation being reduced earlier this year, and the company is once again in the headlines for reasons that…

This year was supposed to be one big victory lap for Revolut, the UK’s largest fintech. The firm trumpeted its first ever year of profitability in March, having tripled its earnings year-on-year, and continues to hire at a blistering pace, despite doom and gloom elsewhere in the sector.This was also the year Revolut hoped to earn its UK banking license. Since it began offering prepaid cards in 2015, the firm has amassed 25 million customers and moved into services from crypto trading to international money transfer. It’s…

Cosmos (ATOM) powers blockchain ecosystems that scale and inter-operate. The Cosmos (ATOM) team wants to create a network of blockchains that can communicate in a decentralized manner. While the price of Cosmos (ATOM) has dropped by almost 1.5% in the last week, an unprecedented rise could be on the horizon. Polkadot (DOT) was designed for blockchains so they could transact and exchange messages with each other without the need for a trusted third-party. Polkadot (DOT) also allows for cross-chain transfers of assets…

Hi, friends! Welcome back to Week in Review, the newsletter where we very quickly sum up the most read TechCrunch stories from the past week. Want it in your inbox every Saturday morning? Get it here. most read GTA 6 footage leaks: Roughly 90 clips of the next Grand Theft Auto game leaked out this week, with the uploader claiming to have hacked Rockstar Games’ internal Slack. Rockstar confirmed the “network intrusion,” adding that they are “extremely disappointed” to see things leaked this way but that development…

The world is entering a huge cost of living crisis, which will inevitably result in a rise in homelessness. But donating to homeless people has yet to go fully digital. Challenger bank Monzo allowed the opening of limited accounts for the homeless using methods like a benefits letter or one from a homeless shelter, for instance. But the solutions are patchy. Howwever, with many homeless people now packing smartphones, ideally there should be simple ways of supporting them rather than shrugging away an excuse about…

Revolut has launched its cryptocurrency service in Singapore, where the government is mulling over the need for additional rules on retail crypto trading. The UK-based fintech player says it will offer its services in "a responsible manner" and help customers understand the risks involved. Revolut said its new service would allow customers in Singapore to buy, hold, and sell cryptocurrencies via its mobile app. Its platform offers more than 80 tokens for trade, with a 2.5% transaction fee for "standard" customers and 1.5%…