What's made them Finalists

The world's first financial superapp, Revlout's innovative strategic solution to help consumers better and more seamlessly manage their finances connects 8 different banks within their app, providing users with a myriad of financial services with accounts for children as young as 7 to encourage financial literacy at a young age. 

Bridging a gap in their consumer market 

Realising that customers faced challenges having to use multiple financial apps to get access to various financial services for different needs, Revlout has built a solution, providing customers with a financial super app that serves as the only app that they need to conduct a variety of financial services in a seamless, transparent and engaging way. Most apps only allow customers to perform a limited set of functions, for example, budgeting, remittance and investment, however, since 2019, Revlout have been enchanging their product offering beyond debit cards, FX (excellent exchange rates in over 150 currencies, the ability to hold money in over 28 currencies), accounts for children from ages 7 to 17 years old (allowing them to learn financial literacy from a young age) and commodities trading. 

In 2022 alone, they managed to introduce cryptocurrency and fractional stock trading to our customers. The entire customer journey is managed within our app, including onboarding, FX, trading, sending crypto to over Revolut users, etc. With fractional stock trading, customers can invest with as little as US$1 in global company shares.

To resolve the market gap of costly debit/credit top up to e-wallets, their solution involved connecting 8 banks in their app so that customers were able to top up their e-wallet via eGIRO for free, entirely on one platform. Customers can do this within their Revolut app rather than with multiple banking apps. 

Innovation and customer growth 

The innovation of their service stems from the combining of a myriad of services within a single platform. This allow customers to perform Fx, send funds and crypto, invest in stocks, crypto and commodities, all in one app rather than use another app to first change funds from SGD to USD then send the USD to another app to buy investment products. This offers users a seamless experience. 

Since launching in 2019, they have seen sign-ups increase by  approximately 2X year-on-year and have also observed an increase in the usage of their app. The number of transactions on Revolut Singapore has doubled in June 2023 compared to a year ago. The payments that Revolut Singapore facilitates on a monthly basis has also grown by over 50% in June 2023 compared to a year ago.