U.K.-based fintech Revolut has grown into one of the most trusted names in digital finance. With its popular online payment services expanding to include insurance, loan issuance, cryptocurrency, and credit cards, the company’s two million-strong user base has seen its products reach into almost every area of modern life.
Now, Revolut intends to add another critical financial sector to its offerings: mortgages.
“We will definitely do mortgages for consumers,” said the company’s Co-Founder and Chief Executive Officer, Nik Storonsky, in an interview with the Irish Independent. “Because when I look at all the mortgage processes, it can take one to two months. At best, it’s seven days. It’s all quite ‘legacy.’”
Having already saturated most European markets with its popular financial products, Revolut’s expansion into mortgages will push it into “super-app” territory, as described by Storonsky. That is, Revolut users may soon be able to accomplish all their major financial tasks within the Revolut ecosystem.
“Ultimately, we want to have in one app all the financial services that people use, in a simple, intuitive, and cost effective way,” Storonsky explained. “So if I want to trade, I can trade. If I want to buy or sell crypto, I can do it, or withdraw money, or do foreign exchange or borrow money.”