Europe's most valuable startup no longer wants to be known as a bank. Revolut chief executive Nik Storonsky said Friday that the fintech plans to move beyond financial services and build a broader suite of technology products, setting a long-term goal of reaching a scale comparable with the biggest US technology companies.
Storonsky made the remarks at the Wave by Vento tech forum in Turin, where he framed Revolut's edge as data rather than deposits. The company has developed proprietary AI models trained on customer transaction data, using techniques similar to those underpinning large language models.
"With 30 to 40 million transactions taking place every day on Revolut, we have a unique dataset to build on," he said.
An AI brain trained on billions of transactions
The AI push is already showing up in the product roadmap. Revolut is building shopping tools that let customers delegate online purchases to AI agents: the technology would let an agent browse websites such as Amazon while the customer's card details stay inside Revolut's own systems, which Storonsky said keeps the process secure.
The company expects to start testing the feature in December, beginning in the United Kingdom before expanding across Europe.
The tools feed into AIR, Revolut's AI assistant, which is gaining the ability to shop autonomously — part of the agentic-commerce wave sweeping digital firms. Storonsky suggested that as AI agents take over more browsing and buying, conventional websites and mobile interfaces could become less important.
Coming for JPMorgan in America
Alongside the tech-company pivot, Revolut is preparing a full-service push into the United States. In a Bloomberg interview in Turin, Storonsky said the planned US credit cards would offer rewards points and benefits on par with JPMorgan Chase and American Express.
"Everywhere we want to go, we want to dominate. Otherwise, what's the point?" he said.
The US push follows preliminary approval for a national banking licence in September, after Revolut won licences in Britain and France earlier this year. Storonsky said the company would first focus on personalised banking, followed by credit cards and loans, targeting younger and more affluent consumers, expats and travellers.
Its limited existing US business, which operates through a partner bank, is already profitable, he said. If Revolut ever lists its shares, he added, it would favour a primary listing in the US.
A $115 billion startup with 100-million-customer dreams
Founded a little over a decade ago, Revolut was valued at $115 billion in a secondary share sale this year, up from $45 billion in 2024 — privately worth more than the market capitalisation of Barclays or Societe Generale. The company is targeting 100 million customers across 100 countries and $100 billion in revenue.
Rapid growth has drawn regulatory scrutiny. In 2025, Lithuania's central bank imposed a record €3.5 million fine over shortcomings in transaction-monitoring controls, though no confirmed instances of money laundering were found.
In September, Revolut accidentally sent customer data to hackers posing as government investigators; the company said its systems and customer funds were unaffected.
