Chief Monetary Officer David MacLean has stop his function at London-based cell banking fintech Revolut after simply 5 months
Revolut, the digital financial institution and cell app fintech, has reported that Chief Monetary Officer David MacLean has stood down from his place on the firm after simply 5 months within the function. He’s leaving the place for ‘private causes’
MacLean joined Revolut in October final 12 months, having beforehand labored as Finance Director at Metro Financial institution between 2016 and 2019. He’ll reportedly stay with Revolut till the summer time, engaged on a undertaking foundation.
Revolut mentioned in an announcement: “Beneath Dave’s management the finance staff has achieved an amazing job in constructing the monetary capabilities that we have to proceed to develop our enterprise. Now we have an interim CFO in place, working carefully with our deputy CFO and our sturdy finance management staff.”
Invoice Rattray, Former CFO of Normal Life Aberdeen is reported to have joined the cell banking startup as interim CFO. Rattray has greater than 30 years’ expertise of working with Revolut Chairman, Martin Gilbert.
Since its founding in 2015, Revolut has seen speedy progress, final 12 months reaching second place on LinkedIn’s 2019 Prime Startup lists. Greater than half of the highest 10 on that listing was occupied by fintech corporations, together with the likes of Starling and Monzo.
Revolut was shaped by Vlad Yatsenko and Nikolay Storonsky. As we speak it has greater than seven million clients worldwide and has dealt with greater than 350 million transactions.
The fintech affords a number of digital banking providers, together with a pay as you go debit card, foreign money alternate service, cell funds and banking, a cryptocurrency alternate and peer-to-peer funds expertise.
All of that is managed by means of the Revolut App – out there for iOS and Android – which helps spending and ATM withdrawals in 120 currencies and sending straight from the app in 29 currencies.
Revolut prides itself on simplicity and consumer expertise, two drivers on the coronary heart of its improvements. For instance accounts will be began and arrange in a couple of minutes, budgeting and account administration providers are intuitive and simple to navigate and a number of other safety choices are included for all customers.
On cryptocurrencies, Revolut allows the altering of 29 currencies into 5 cryptos: Bitcoin, Litecoin, Ethereum, Bitcoin Money and XRP. It additionally offers customers real-time cryptocurrency information, analytics and graphs that illustrate present charges and worth alerts.
Cash administration for youths
This week Revolut launched Revolut Junior for youths, an funding product aimed toward kids aged between seven and 17 that can see kids have their very own financial institution playing cards.
At the moment, the product is obtainable to these kids of British Premium and Metallic shoppers – Revolut’s prime tier accounts – though it’s prone to be rolled out throughout all accounts shifting forwards.
Revolut mentioned that the brand new product “offers [kids] the liberty to handle their cash and construct important monetary expertise, however for added safety and peace of thoughts, it’s owned and managed by mother and father”.
The product has a number of options together with funding straight from the related dad or mum account, superior safety features managed by the dad or mum or guardian, prompt cell notifications when the Junior card is used, and monitoring and transaction alerts.
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