Revolut's Path to 50 Million Customers

Matt Baxby - Revolut

Dexter welcomes back friend of the show, Matt Baxby, CEO of Revolut Australia, to talk about their remarkable growth to 50 million customers globally. 

It’s been five years since Tier One People placed Matt into the Country CEO role at Revolut. Matt shares his journey over the last five years, discusses the challenges and strategies involved in building a digital bank in Australia, the importance of reaching profitability, and the unique approach Revolut has taken to integrate technology with consumer needs.

Matt shares his insights on leadership, team building, and the future of consumer banking with Dexter.

About Revolut

Revolut's global mission is for every person and business to handle their money in just a few taps, removing the friction that gets in the way of your money goals. 

Revolut delivers faster, better, smarter products to over 50 million customers across the globe giving you access to investments and your money effortlessly and across borders.

About Matt Baxby

Matt is a strategic and people-oriented leader with diverse experience across consumer-facing businesses facing disruption or significant regulatory change.

He has broad finance services sector experience - particularly consumer banking - from start-ups to an ASX-listed company.

Matt embodies the entrepreneurial spirit from a decade with the Virgin Group combined with the discipline and scaled leadership as the Group Executive - Retail Banking and then Group CFO of the Bank of Queensland.

Key Takeaways

• Revolut aims to be a single place for managing financial life.
• The company has grown to over 800,000 customers in Australia.
• Revolut has achieved profitability at both group and local levels.
• Building a strong local team is crucial for success in new markets.
• The fintech landscape is maturing, with significant challenges for startups.
• Australia's remittance market presents a unique opportunity for Revolut.
• A strong focus on technology and innovation is essential for differentiation.
• Leadership qualities include action orientation and adaptability.
• The importance of a clear strategy in a fast-paced environment.
• Talent acquisition is critical for long-term success.

Chapters

00:00 Introduction 
01:18 Revolut's Global Reach and Market Strategy
02:32 Profitability and Financial Milestones
03:27 Long-Term Commitment to the Australian Market
05:26 Building a Digital Bank: Lessons Learned
07:33 Consumer-Centric Approach and Product Development
10:33 Opportunities in the Australian Market
13:01 Future Product Offerings with a Banking License
18:33 Matt's Unique Journey in Fintech
27:03 The Power of Being a Founder-Led Organisation
30:39 Building a Cohesive and Effective Team
35:59 What is

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