Who are Revolut's competitors?
Revolut's 2025 annual report, published 24 March 2026, names no individual competitor; its one competition warning is that "traditional banks accelerating digital offerings could see competition intensify and margins tighten." The rivals are named in other companies' filings and in Revolut's own marketing. In cross-border transfers and multi-currency accounts, Wise's Form 20-F for the year to March 31, 2026 lists Revolut with Airwallex, Block, Chime, Flywire, Paymentus, Payoneer and PayPal among the newer platforms it competes with, and an exhibit to Western Union's 2025 10-K lists Revolut among the companies that compete or plan to compete with it. In consumer payments and credit, Klarna's 2025 20-F names "Neobanks, such as Revolut or NuBank" as competitors. In UK everyday banking, a March 2026 Revolut blog compares Revolut with Monzo, Starling Bank and Chase UK. In the US, where Revolut received OCC conditional approval for a national bank in September 2026, Chime's 2025 10-K says online-only institutions abroad "such as Nubank and Revolut, could in the future expand into the United States and compete with us." In Mexico, BBVA's 2025 20-F lists Revolut and Nu Bank among the entities waiting for a licence or ready to start banking, in a market where BBVA Mexico held 25.6% of bank credit balances in October 2025. Revolut reported over 80 million retail customers in August 2026.[1][2][3][4][5][6][7][8][9]
Data as of Nov 2, 2026 · Revolut profile updated Oct 19, 2026 · 29 sources cited on this page · 56 fintechs profiled on this site · Markdown
What does Revolut's annual report say about competition?
Revolut is private and files no 10-K. Its main disclosure, the Revolut Group Holdings Ltd Annual Report 2025 (year to 31 December 2025, published 24 March 2026), has no section on competition and names no competitor. Its company overview defines Revolut against incumbents: "Revolut began in the UK in 2015 with transfer and foreign exchange services that were faster and cheaper than those of legacy banks." On products it says Revolut remains "dedicated to providing high-quality banking solutions that pair an excellent user experience with competitive pricing."[1]
The principal-risks table, under "Evolving Macroeconomic & Geopolitical Conditions", carries the report's competition warning: "Changes to licensing requirements and regulation may impact our entry and expansion in new markets. Traditional banks accelerating digital offerings could see competition intensify and margins tighten."[1]
Elsewhere the report says "We build products that we love ourselves and that are superior to our competition from the start" (its culture section) and "Our digital-first business model means we have less reliance on physical infrastructure than our competitors" (its climate disclosures). Its emerging-risk process includes "Business horizon scanning - Monitoring competitor, industry, country, geopolitical, economic and counterparty developments." None of these competition passages mentions AI.[1]
Which companies compete with Revolut, where, and how do they compare on AI?
Each row is a company whose own filing names Revolut as a competitor, or that Revolut or the trade press sets against Revolut. Scale figures are each company's own, as written in the cited source; they are not comparable with each other or with Revolut's.
| Competitor | Where they compete | Dated scale figure | How they compare on AI | Sources |
|---|---|---|---|---|
| Wise (NASDAQ: WSE) | International transfers, multi-currency and business accounts; Wise's 20-F names Revolut among the newer financial institutions or platforms it competes with | Cross-border volume of $243.5 billion and 18.9 million active customers, financial year ended March 31, 2026 | Wise says it has invested in AI/ML for a decade, including in fighting financial crime, and has launched large language model copilots for its Financial Crime and Customer Support teams | Wise Form 20-F (June 2026)[2] |
| Monzo | UK everyday banking and, since 2026, Ireland and Spain; Revolut's March 2026 blog compares the two account by account, and Finextra wrote that Monzo "still suffers in direct comparisons with its larger peer, Revolut" | More than 16 million customers (October 29, 2026) | Named by the FCA in December 2025 among the first firms in its AI Live Testing programme | Revolut blog; Finextra; FinTech Futures; Financial Conduct Authority[5][10][11][12] |
| Klarna (NYSE: KLAR) | Payments and credit at checkout; Klarna's 20-F lists "Neobanks, such as Revolut or NuBank" among the alternatives its network competes with | About 118 million active consumers and 960,000 merchants as of December 31, 2025; GMV of $128 billion in 2025 | Klarna says its AI assistant, launched with OpenAI in February 2024, handled 80% of customer service chats in 2025 | Klarna Form 20-F (February 2026)[4] |
| Chime (NASDAQ: CHYM) | US consumer banking, which Revolut is entering with a national bank charter; Chime's 10-K says Nubank and Revolut "could in the future expand into the United States and compete with us" | 9.5 million Active Members as of December 31, 2025 | Chime says it built its own machine learning platform for fraud, risk and underwriting decisions and to automate member support responses | Chime Form 10-K (March 2026); Revolut[7][6] |
| Nubank (Nu Holdings, NYSE: NU) | Latin American retail banking: Revolut went live in Mexico and Colombia in 2025, per CNBC; Klarna and Chime both name Nubank alongside Revolut, and BBVA lists both among Mexico's would-be banks | 131 million customers across Brazil, Mexico and Colombia as of December 31, 2025 | Nu bought Hyperplane, a US AI platform that helps financial institutions personalize customer experiences through foundation models, in July 2024 | Nu Holdings Form 20-F (April 2026); CNBC; Klarna Form 20-F; BBVA Form 20-F[13][14][4][8] |
| PayPal (NASDAQ: PYPL) | Wallets, online checkout and person-to-person payments; Wise's 20-F names PayPal and Revolut in the same group of competitors, and Chime's 10-K names PayPal among its fintech rivals | $1.79 trillion of total payment volume in 2025; 439 million active accounts as of December 31, 2025 | PayPal says it uses AI and machine learning in fraud prevention, risk management, product optimization and customer service, and is building ways for consumers to pay through AI agents | PayPal Form 10-K (February 2026); Wise Form 20-F; Chime Form 10-K[15][2][7] |
| Block (Cash App; NYSE: XYZ) | Consumer money apps and merchant payments; Wise's 20-F lists Block with Revolut, and Chime's 10-K names Cash App as a competitor | Cash App had 59 million monthly transacting actives as of December 2025 | Block says Square's AI-enabled tools automate sellers' operational and financial tasks, and that it has released AI agents it developed under open source licenses | Block Form 10-K (February 2026); Wise Form 20-F; Chime Form 10-K[16][2][7] |
| Western Union (NYSE: WU) | International money transfer; Western Union's stock-option terms list Revolut Group Holdings Ltd. among companies that compete or plan to compete with it, and Wise counts Western Union among legacy foreign exchange businesses | 285.9 million Consumer Money Transfer transactions in 2025 (289.9 million in 2024) | Its 10-K says it seeks to respond to advances in AI and machine learning and warns that AI may enable harder-to-detect fraud; it names no AI product | Western Union Form 10-K and Exhibit 10.37 (February 2026); Wise Form 20-F[17][3][2] |
| BBVA (BBVA Mexico) | Mexican retail banking; BBVA's 20-F lists Revolut and Nu Bank among the entities waiting for a licence or ready to start banking operations in Mexico | BBVA Mexico held 25.6% of Mexican bank credit balances in October 2025 (25.4% in December 2024) | BBVA's December 2025 alliance with OpenAI extends ChatGPT Enterprise to its more than 120,000 employees | BBVA Form 20-F (February 2026); BBVA[8][18] |
What do competitors' own filings say about Revolut?
Wise, Form 20-F for the year to March 31, 2026 (filed June 25, 2026): "The primary competitors for our products fall into the following distinct categories: global traditional banks which have yet to become Wise Platform partners; newer financial institutions or platforms, such as Airwallex, Block, Chime, Flywire, Paymentus, Payoneer, PayPal and Revolut; legacy foreign exchange businesses, such as Moneygram, Western Union or remittance players such as Remitly; and payment infrastructure providers, such as MasterCard and Visa."[2]
Klarna, Form 20-F for 2025 (filed February 26, 2026), lists what its network may compete with, including card-issuing banks, card networks, "Neobanks, such as Revolut or NuBank", buy now, pay later providers such as AfterPay, and e-commerce platforms such as Shopify, Amazon or Walmart.[4]
Chime, Form 10-K for 2025 (filed March 6, 2026), names traditional banks as its main competition, then online-only institutions such as Ally, Discover and SoFi, and adds: "Other online-only financial institutions that operate in foreign jurisdictions, such as Nubank and Revolut, could in the future expand into the United States and compete with us."[7]
BBVA, Form 20-F for 2025 (filed February 20, 2026), on Mexico: "eight other entities are either waiting for the approval of their license or ready to start operations within the banking sector: Revolut, Nu Bank, Klar, Masari Casa de Bolsa, Finsus, Konfío, and Plata Card." The list as filed names seven.[8]
Western Union's stock-option award terms, filed as Exhibit 10.37 to its 2025 10-K, define a "Restricted Company" as one that competes or is planning to compete with its business, and list Revolut Group Holdings Ltd. with Block, Coinbase, Nu Holdings, PayPal, Remitly and Wise, among others.[3]
Which companies are most similar to Revolut?
App-based banks and money platforms closest to Revolut's consumer offer, each with the source that ties it to Revolut.
| Company | Why it is similar | Sources |
|---|---|---|
| Monzo | A UK app-based bank that Revolut's own March 2026 blog compares with Revolut feature by feature, likening Monzo Pots to Revolut Pockets and Monzo Split to Group Bills. Finextra reported in September 2026 that Monzo was in early-stage talks about a tie-up with Nubank's parent, Nu Holdings. | Revolut blog; Finextra[5][19] |
| Starling Bank | Another UK digital bank in Revolut's comparison; Revolut's blog notes Starling's Post Office cash deposits and desktop banking, and that like Monzo and Revolut it offers round-ups. | Revolut blog[5] |
| Chase UK (JPMorgan Chase) | The third app in Revolut's UK comparison; Revolut's blog says Chase UK is part of JPMorgan Chase, entered the UK with a focus on spending rewards, and pays 1% cashback on the first £1,500 of eligible spending. | Revolut blog[5] |
| Nubank | Klarna's 20-F groups Nubank with Revolut as a neobank, and Chime's 10-K groups them as online-only institutions abroad; Nu reported 131 million customers across Brazil, Mexico and Colombia at December 31, 2025. | Klarna Form 20-F; Chime Form 10-K; Nu Holdings Form 20-F[4][7][13] |
| Wise | Revolut began with transfer and foreign exchange services; Wise's Wise Account served over 18.0 million active customers in the year to March 31, 2026, and Wise names Revolut among its competitors. | Revolut annual report 2025; Wise Form 20-F[1][2] |
What does the Revolut profile record on this topic?
The rows below are the entries of the Revolut AI strategy profile that bear on this page, as of Oct 19, 2026; the profile holds the full record of 13 dated moves, 7 use cases and 21 sources.
| Date | Move | Detail | Source |
|---|---|---|---|
| Sep 3, 2026 | OCC grants conditional approval for a US national bank charter | The OCC gives conditional approval to Revolut's national bank charter application; FDIC deposit insurance and Federal Reserve approval are still required before the proposed Revolut Bank US can open, with a 2027 launch targeted. American Banker reported the approval withholds four products — leveraged currency trading, foreign exchange forwards, merchant acquiring and correspondent banking for unaffiliated foreign banks — each needing a separate supervisory non-objection before Revolut can offer it. | [6][20] |
| Aug 10, 2026 | French banking licence | Finextra reported that Revolut had been awarded a full European banking licence by French regulators, with approval from the European Central Bank; the new banking unit begins with customers in France before expanding to other Western European markets, while the Lithuanian Revolut Bank UAB remains the hub for the rest of the EEA. | [21] |
| Mar 24, 2026 | FY2025 annual report published | Revolut releases its Annual Report for the year to 31 December 2025 alongside a results announcement dated 24 March 2026. Revenue reaches £4.5 billion (+46%), profit before tax £1.7 billion (+57%); the report discloses that Revolut's Gen AI-powered support chatbot, Assistant, resolved over 75% of customer support interactions by year end, and that AI-driven financial-crime review capacity rose roughly tenfold. | [1][22] |
| Mar 11, 2026 | UK bank exits mobilisation and launches | The PRA lifts restrictions on Revolut Bank UK Ltd, letting it offer FSCS-protected deposit accounts and a fuller product range to its 13 million UK customers. | [23][24] |
| Mar 5, 2026 | Files for a US national bank charter | Revolut applies to the OCC and FDIC for a US national bank charter (to become Revolut Bank US, N.A.) and names Cetin Duransoy as US CEO, succeeding Sid Jajodia, who becomes Global Chief Banking Officer. | [25][26] |
| Nov 24, 2025 | $75 billion valuation share sale completes | A secondary share sale led by Coatue, Greenoaks, Dragoneer and Fidelity, with NVentures (NVIDIA's venture arm) among the participants, values Revolut at $75 billion, deepening the NVIDIA collaboration on AI. | [27][28] |
| Jul 25, 2024 | UK banking licence with restrictions | The PRA grants Revolut NewCo Ltd a UK banking licence with restrictions, starting the 'mobilisation' stage in which deposits are capped and nothing changes for existing customers. | [29] |
Who are Revolut's biggest competitors?
By line: in transfers and multi-currency accounts, Wise, PayPal, Block and Western Union, which Wise's 20-F or Western Union's own filing groups with Revolut; in checkout payments and credit, Klarna; in UK everyday banking, Monzo, Starling Bank and Chase UK, which Revolut's own blog compares itself with; in the US, Chime; and in Latin America, Nubank and BBVA Mexico.
What companies are similar to Revolut?
The closest are app-based banks: Monzo and Starling Bank in the UK, Chase UK from JPMorgan Chase, and Nubank in Latin America, which Klarna's 2025 20-F groups with Revolut as a neobank. Wise is the closest match for Revolut's original business of cheaper international transfers and foreign exchange.
Does Revolut's annual report name its competitors?
No. Revolut's 2025 annual report, published 24 March 2026, has no competition section and names no competitor. It warns that traditional banks accelerating their digital offerings could intensify competition and tighten margins, and says Revolut began by offering transfers and foreign exchange faster and cheaper than legacy banks.
Is Wise a competitor of Revolut?
Yes, by Wise's own account. Its Form 20-F for the year to March 31, 2026 lists Revolut, with Airwallex, Block, Chime, Flywire, Paymentus, Payoneer and PayPal, among the newer financial institutions or platforms it competes with. Wise reported $243.5 billion of cross-border volume and 18.9 million active customers that year.
Will Revolut compete with Chime in the US?
Chime expects it may. Its 2025 10-K says online-only institutions abroad, such as Nubank and Revolut, could expand into the United States and compete with it. Revolut received OCC conditional approval for a US national bank on 3 September 2026; FDIC and Federal Reserve approvals were still required.
Who competes with Revolut in the UK?
Revolut's March 2026 blog compares its account with Monzo, Starling Bank and Chase UK on ATM limits, savings rates and investing. Revolut also says traditional banks accelerating digital offerings could intensify competition. Finextra wrote in May 2026 that Monzo, which had more than 16 million customers by October 2026, "still suffers in direct comparisons with its larger peer, Revolut".
- Revolut Group Holdings Ltd, Annual Report 2025
- Wise Group plc, Form 20-F for the fiscal year ended March 31, 2026
- The Western Union Company 2024 Long-Term Incentive Plan, Nonqualified Stock Option Award Agreement (Exhibit 10.37 to the 2025 Form 10-K)
- Klarna Group plc, Form 20-F for the fiscal year ended December 31, 2025
- Monzo alternatives: the best digital apps for everyday spending
- Revolut Receives Conditional Approval from U.S. Office of the Comptroller of the Currency to Form a National Bank
- Chime Financial, Inc., Form 10-K for the fiscal year ended December 31, 2025
- Banco Bilbao Vizcaya Argentaria, S.A., Form 20-F for the fiscal year ended December 31, 2025
- Revolut Announces Launch of Dedicated AI Research Division: Revolut Research
- Monzo reports bumper jump in profits
- Monzo continues European expansion with Spain launch
- FCA helps firms to test AI safely
- Nu Holdings Ltd., Form 20-F for the fiscal year ended December 31, 2025
- 29. Revolut (2026 CNBC Disruptor 50)
- PayPal Holdings, Inc., Form 10-K for the fiscal year ended December 31, 2025
- Block, Inc., Form 10-K for the fiscal year ended December 31, 2025
- The Western Union Company, Form 10-K for the fiscal year ended December 31, 2025
- BBVA and OpenAI Seal a Strategic Alliance to Redefine Banking with Artificial Intelligence
- Nubank in talks to take over Monzo
- Revolut wins US charter with limits on four products
- Revolut awarded full-fat European banking licence
- Revolut reports record profit of $2.3bn for 2025 as revenue surges to $6bn
- Revolut Launches UK Bank
- Revolut acquires full UK banking license after years-long wait
- Revolut Files U.S. Bank Charter Application, Names New U.S. CEO
- Fintech giant Revolut pursues US bank charter
- Revolut Completes Fundraising Process Establishing $75 Billion Valuation
- Revolut valued at $75B
- Revolut receives UK banking licence
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