960. Insights: The future of Revolut with UK CEO Francesca Carlesi
Francesca Carlesi shares Revolut UK's journey to a banking license, major milestones, and her vision for building the UK's best digital bank.
About this episode:
In this episode of Fintech Insider Insights, David M. Brear welcomes Francesca Carlesi, the CEO of Revolut UK, for an in-depth conversation about one of the most transformative years in Revolut’s history.
With a strong background in fintech and traditional banking, including co-founding the UK’s first digital mortgage lender, Francesca has brought a wealth of experience and entrepreneurial spirit to her role at Revolut.
Over the past year, Revolut secured its highly anticipated UK banking licence, crossed the milestone of 10 million UK customers, and made significant strides towards becoming the primary bank of choice for millions.
Francesca shares the inside story of what it took to achieve these milestones, how Revolut’s fast-paced, customer-first culture enabled rapid innovation, and what building a “super app” for financial services really looks like from the inside.
The conversation also dives into Revolut’s bold expansion into wealth management, SME banking, lending products, and beyond.
Key discussion points
Introduction
- Francesca Carlesi joins Revolut UK as CEO
- Transitioning from Molo Finance to Revolut’s high-growth environment
Achieving Major Milestones
- Securing Revolut’s long-awaited UK banking license
- Growing the UK customer base to over 10 million users
- Building the foundation for Revolut Bank UK
Revolut’s Company Culture
- Entrepreneurial, high-intensity environment focused on execution
- Empowerment and autonomy for faster product innovation
- Rigorous hiring focused on mindset and high performance
Customer-Centric Product Strategy
- Continuous innovation based on real customer feedback
- Launching non-traditional financial products like eSIM
- Balancing rapid product launches with high-quality standards
The Importance of the Banking License
- Why the banking license marks a new chapter for Revolut
- Building customer trust and offering new financial services
- Unlocking lending, savings, and future mortgage offerings
Becoming the Primary Bank for Customers
- Expanding Revolut’s services to cover complete financial needs
- Moving from secondary payment card to main banking relationship
- Serving future generations with a mobile-first super app
Expansion into Wealth Management and SMEs
- Launching wealth management products for retail customers
- Growing Revolut’s SME banking services to meet underserved demand
- Strategic focus on profitable growth alongside expansion
Challenges for Traditional Banks
- Legacy systems and slow product development cycles
- Cultural and organizational resistance to innovation
- Lack of incentive to disrupt profitable traditional models
Revolut’s Competitive Advantages
- Fast-paced innovation without sacrificing quality
- True customer-first product development approach
- Maintaining agility while scaling globally
Future Vision for Revolut UK
- Becoming the most trusted and primary digital bank in the UK
- Scaling international operations while preserving startup culture
- Building a high-performance, inclusive workforce for global growth
This week's guest:
- Francesca Carlesi - UK CEO of Revolut
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Fintech Insider by 11:FS is a bi-weekly podcast that covers everything from finance and banking to technology and the latest trends in financial services.
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