Revolut rampage: 100,000 Maltese are now using the digital bank

Over 200 customers signing up to the mobile payment service every day

Revolut has surpassed 100,000 Maltese customers
Revolut has surpassed 100,000 Maltese customers

Less than one year ago Revolut founder and CEO Nikolay Storonsky pledged to revolutionise Malta’s banking sector, and with almost a quarter of the population using the digital bank, it appears to have done just that.

“Revolut is here to end the party for the bankers and provide the Maltese people with an innovative, technology-first banking alternative,” Storonsky said back in April last year.

In an interview with BusinessToday, Revolut’s Director of Marketing and Communications Chad West, said that the country had signed up over 100,000 users in just 11 months, with the increase in numbers showing no sign of slowing down.

“Malta is extremely important to Revolut due to the large number of expats, migrant workers and professionals transferring money in and out of the country,” West said. “So far, Revolut has proved to be incredibly popular in Malta, with over 100,000 customers signed up to date – that’s almost one quarter of the population.”

West added that the digital bank was signing up around 200 customers every day and only expect that to increase further.

He said that Maltese customers were making use of Revolut’s everyday features, such as the spending analytics and budgeting aspects.

“We’ve also seen a huge uptake in our Vaults and Donations feature, with people choosing to stash away their spare change every time they spend, or donate the money directly to a charity.”

Revolut announced last December that it had officially secured a European banking license, granting customers and users more peace of mind.

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