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UK fintech Revolut plays a huge part for the Indian market

UK fintech Revolut plays a huge part for the Indian market

A UK fintech Revolut that offers money transfer and banking services and was valued at $5.5 billion last year, announced a multimillion-pound investment in India over the next five years and has committed to creating 300 new jobs in the nation to support its worldwide business operations.

To begin off that process, the London-based financial technology firm announced the hiring of Paroma Chatterjee as CEO, India, this week.

Chatterjee, who has previously held senior executive positions at Lendingkart, Via.com, Flipkart, and Airtel Money, will be in charge of establishing Revolut’s subsidiary in India, as well as defining and implementing the company’s business strategy, hiring the team, and managing license applications and potential market acquisitions.

The future bank

“I couldn’t be more delighted to join Revolut and become a part of this fantastic development journey,” said Chatterjee, who was designated one of the Top 25 Women Leaders in Financial Technology for Asia in 2020. It is an honor and a joy to be asked to run the business for such a world-class company in a country that represents one of Revolut’s greatest worldwide potential. India Global Business

Revolut founded in the UK in 2015 as a fintech business on a mission to create the world’s first “truly global financial superapp,” enabling money transfer and exchange. It now has 15 million subscribers worldwide who utilize dozens of Revolut products and do more than 100 million transactions every month.

Revolut takes pleasure in being one of the first UK fintechs to enter the Indian market, a move it thinks would strengthen trade and economic connections between the two nations.

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The primary market

According to Nik Storonsky, CEO and Founder of Revolut, Paroma is an excellent fit for the role with enormous experience in the fintech and consumer tech sectors and its appointment is a major achievement in the continued section to become the world’s first truly global financial superapp. India Global Business

He stated that they are looking forward to changing the way people in India access and manage their money as they expand their goods and services to more people worldwide. India is a key area in their development strategy, with a large supply of talent, and they are delighted to tap into that pool to help Revolut grow.

Heads of Operations and Legal have been appointed, and the company claims it is using India’s excellent talent pool to hire across several functions such as HR, Finance, Growth, Marketing, Recruitment, Compliance, Risk, and Technology.

A roadside vendor’s booth is pictured with an advertisement board displaying a QR code for Paytm, a digital wallet firm. Revolut’s entry into India is the next stage in the company’s worldwide development plans, after successful debuts in Singapore and Australia in 2019, and the United States and Japan in 2020. Reuters provides this image as a courtesy.

He said that he is looking forward to assembling an extraordinarily skilled team and collaborating with them as we continue to offer superior financial solutions for millions of Indian consumers. India Global Business

Operation hub

According to the firm, the Revolut India subsidiary will also act as an operational base for Revolut’s worldwide business, reflecting the capabilities and expertise available in the Indian market.

Revolut claims to have established itself as an innovative alternative to traditional banking products globally, because of its suite of digitally enabled solutions that includes banking and business accounts, cards and payments and other financial services.

According to the business, Revolut India will seek to develop solutions in the nation that would greatly enhance the experience that Indians now have in accessing and managing their personal accounts.

Revolut founded in the UK in 2015 as a fintech business on a mission to create the world’s first “truly global financial superapp,” enabling money transfer and exchange. It now has 15 million subscribers worldwide who utilize dozens of Revolut products and do more than 100 million transactions every month.

The company’s entry into India is the next step in its worldwide development plans, following successful debuts in Singapore and Australia in 2019, as well as the United States and Japan in 2020. Revolut intends to expand into a number of additional areas in South America, as well as expand its existing position in Asia-Pacific.