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Revolut’s ambitions reach beyond banking and into AI
Storonsky says Revolut wants to grow beyond financial services using proprietary AI models trained on customer transaction data; he cited 30–40 million daily transactions. Revolut also wants to compete with JPMorgan and American Express in the US and prefers a US primary listing if it pursues an IPO.[2][3]
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Key takeaways
- Storonsky says Revolut wants to grow beyond financial services using proprietary AI models trained on customer transaction data; he cited 30–40 million daily transactions.
- Revolut also wants to compete with JPMorgan and American Express in the US and prefers a US primary listing if it pursues an IPO.[2][3]
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openai.comCreate a landscape editorial hero image for this Studio Global article: What did Revolut CEO Nik Storonsky reveal on October 9 at the Wave by Vento tech forum in Turin and in his Bloomberg TV interview about expa. Article summary: Storonsky outlined an ambition to turn Revolut from a financial-services company into a broader global technology business, while building a full-service US bank capable of challenging JPMorgan Chase and American Express. Topic tags: general, news, general web, user generated. Style: premium digital editorial illustration, source-backed research mood, clean composition, high detail, modern web publication hero. Use reference image context only for broad subject, composition, and topical grounding; do not copy the exact image. Avoid: logos, brand marks, copyrighted characters, real person likenesses, fake screenshots, UI text, readable text, watermarks, charts w
At the Wave by Vento tech forum in Turin on October 9, Revolut CEO Nik Storonsky set out a strategy that reaches beyond financial services: develop more technology products, build proprietary AI models using customer transaction data, and expand the company’s US banking ambitions. His remarks describe a direction for Revolut, not a completed shift into a broader technology business or a fully launched US bank.1
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Building technology beyond financial services
Storonsky said Revolut had developed proprietary AI models trained on customer transaction data, using techniques similar to those behind large language models. He cited 30–40 million transactions taking place on the platform each day as a dataset the company could build on.1
That comparison describes the techniques used to develop the models; it does not establish that Revolut’s models are themselves large language models. The stated plan is broader than banking, with the company aiming to develop a wider range of technology products.1
Bloomberg’s coverage also describes Revolut preparing to test AI agents that could shop and transact for users. The available reporting does not specify a December test date or say that Britain will be the first market.3
A push to compete in US banking
In his Bloomberg interview, Storonsky said Revolut wanted to “dominate” the US market and compete with established firms including JPMorgan Chase and American Express. He described plans for a fuller digital-banking offer that includes credit cards and loans.3
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Those products depend on regulatory approval. Reporting on the interview describes Revolut’s US banking approval as conditional and says it still needs full approval before it can proceed with the planned offering.10
38 The ambition to take on major US banks should therefore be read as a goal, not as a description of capabilities Revolut has already secured.
A US listing is a preference, not a confirmed IPO plan
Storonsky said a US primary listing had been the target because of the depth of the US market, if Revolut chooses to pursue a public offering. The remarks signal a preferred venue, not a confirmed decision to list or a set IPO date.2
Ambitious plans, with execution still to come
The October 9 remarks connect three goals: moving into more technology products, using AI built on Revolut’s transaction data, and growing its position in US financial services. The reporting confirms these as company ambitions; it does not verify every proposed feature, launch timetable or regulatory capability raised in broader discussion.1
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The expansion also comes against a backdrop of scrutiny. Lithuania fined Revolut €3.5 million in 2025 over deficiencies in transaction monitoring. The company said the investigation found no confirmed money laundering and that it had strengthened its systems; that response does not erase the shortcomings identified by the regulator.47 Separately, reporting said fraudsters obtained customer information after impersonating Italian law enforcement. Revolut said customer funds and core systems were not compromised.
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Storonsky says Revolut wants to grow beyond financial services using proprietary AI models trained on customer transaction data; he cited 30–40 million daily transactions.
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Storonsky says Revolut wants to grow beyond financial services using proprietary AI models trained on customer transaction data; he cited 30–40 million daily transactions. Revolut also wants to compete with JPMorgan and American Express in the US and prefers a US primary listing if it pursues an IPO.[2][3]