Revolut CEO Storonsky aims to turn fintech into global technology company
“Revolut plans to expand beyond financial services and develop a broader range of technology products as it seeks to strengthen its global presence, Chief Executive Nik Storonsky said on Friday. Speakin…”
Speaking at the Wave by Vento technology forum in Turin, Storonsky said the company had developed proprietary artificial intelligence (AI) models trained on customer transaction data using techniques similar to those behind large language models. Revolut processes between 30 million and 40 million transactions daily, providing the company with a unique dataset to support its AI development, Storonsky said.
His long-term ambition is to build a company operating on a scale comparable to the largest US technology firms. Founded just over a decade ago, Revolut was valued at $115 billion in a secondary share sale this year, up from $45 billion in 2024.
Its private valuation now exceeds the market capitalisation of major European banks, including Britain's Barclays and France's Societe Generale. However, the company's rapid expansion has attracted regulatory scrutiny. In 2025, Lithuania's central bank imposed a record €3.5 million fine over shortcomings in transaction-monitoring controls.
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Revolut said the investigation found no confirmed instances of money laundering and that it had strengthened its systems. In September, the company accidentally disclosed customer data to hackers posing as government investigators. Revolut said its systems and customer funds were unaffected.
The fintech firm has also expanded its banking operations, receiving preliminary approval for a national banking licence in the United States in September after securing banking licences in Britain and France earlier this year. Storonsky said on Thursday that if Revolut decides to list its shares publicly, it would favour a primary listing in the United States.
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