Revolut's Busy Week and JPMorgan Knocking at the Door
Hey Digital Banking Fanatic!
I've had my eye on Revolut this week, and there's a lot to unpack. Let me walk you through it.
Revolut is doubling down on Israel. The company is on a hiring push as it works to secure a full banking license, which is a natural next step after getting the “go” for payment services.
But not everything is going smoothly for the FinTech. Just two months after its splashy Australian launch, Revolut had to pull the plug on inbound PayTo top-ups after a security incident hit. Around 250 mule accounts were exploited, and up to $3 million walked out the door.
There was also movement at the top with Dmytro Strelchuk, Head of New-Market Launches, stepping down after seven years. Joining when Revolut was a 40-person startup and leaving after putting the company on the map in both Brazil and Mexico.
On the other side of the ledger, Revolut just brought in Jakub Fast, a seasoned Polish banking executive who ran Chase's European operations, as its new Head of European Business. A serious hire for a serious market.
Which brings us to Chase itself. JPMorgan is finally making its continental European move. Nearly five years after quietly launching Chase in the UK, Jamie Dimon has Berlin in his sights. For the largest bank in the US, Germany isn't just another market; it's the entry point into a fragmented continent where local giants have long kept outsiders at bay.
Today's remaining Digital Banking headlines are just below. 👇 See you tomorrow!
Cheers,
INSIGHTS
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Business Banking is Splitting in Two. Let's dive in👇
NEWS
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🇮🇱 Revolut steps up Israel hiring as it pushes for “Lean Bank” license. Revolut is now recruiting a Strategy and Operations Manager to remotely support its growth in Israel. The role focuses on building scalable processes, managing infrastructure projects, and improving operational efficiency.
🇺🇦 Revolut's head of new-market launches, Dmytro Strelchuk, leaves the company after 7 years. Joining in 2018 when Revolut had around 40 employees, he helped build a new division from scratch and later worked on financial monitoring, cryptocurrency, and international expansion projects, eventually leading a team of more than 100 people.
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