MN3102 Assignment 3: In-depth Analysis of Revolut's Business Strategy

This report provides a comprehensive analysis of Revolut, a UK-based financial technology company. The report begins with an introduction to Revolut, outlining its services and market position. It then proceeds to conduct a detailed SWOT analysis, evaluating the company's strengths, weaknesses, opportunities, and threats. The report also examines Revolut's corporate social responsibility (CSR) initiatives, highlighting its partnership with Pact Coffee and its focus on social impact. Furthermore, the report delves into Revolut's innovation and creativity strategies, exploring how the company is disrupting the financial industry. The conclusion summarizes the key findings and emphasizes the importance of SWOT analysis, CSR, and innovation for long-term business sustainability. References to relevant academic sources are included throughout the report to support the analysis.

MN3102
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Table of Contents
INTRODUCTION.................................................................................................................................3
TASK....................................................................................................................................................3
SWOT Analysis.................................................................................................................................3
Corporate Social Responsibility by Revolut......................................................................................5
Innovation and creativity by the company.........................................................................................5
CONCLUSION.....................................................................................................................................6
REFERENCES......................................................................................................................................7
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INTRODUCTION
The aim of the present report is to analyse a SWOT environment along with various
CSR policies of a company that it takes into consideration along with a combination of
innovation as well as creativity within their business (Caldwell and Akintunde, 2020). The
present report is based upon a UK based company that is Revolut which deals in banking
services being operated as a financial technological business firm. The company was being
established in year 2015 that is now operated by Nikolay Storonsky and Vladyslav Yatsenko.
Revolut operates its business with a combination of more than 1596 employees who allows
them to enjoy a profit of more than £4.2 billion. It offers services like EUR, GBP banking
accounts, Debit or credit cards, exchange of currency at free cost, exchange of crypto
currency, trading in stocks as well as one to one payments. A customer of such bank can get
its currency exchanged for 120 national currencies as well as can send their payments to 29
different countries. It is known as the nation’s highly valued financial technology company.
TASK
SWOT Analysis
Strength:
Revolut Company gives a completely staggering variety of modern services and
products for customers, such as sends into 29 one of a kind money as well as crypto currency
inters change (Dobrović and Furjan, 2020). This approach the enterprise can attraction to a
big range of customers, as well as in specific, ought to attraction to individuals who might
also additionally often tour foreign. Another power that would attraction to tourists
specifically is how Revolut is the pocked friendly, in comparison to key competition
Monzoas well as Starling, whilst customers need to ship cash foreign, carrying no price for
these offerings. Other than this, the enterprise gives tour as well as tool insurance that may be
brought along with payment with the aid of using the day, with tremendous ease.
Weakness
Revolut has numerous weak points that would affect the man favourably within the
coming time. Initially, customers aren't blanketed via way of means of the FSCS. This may
be extremely off-placing for customers as FSCS is a sort of safety for customer’s funds, as
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well as guarantees that if a financial institution does not gets success, customers are blanketed
as much as sure money, as well as consequently do not lose all their funds. The next weak
point of Revolut is how customers could simplest touch the enterprise through on-line chat.
There isn't any cell phone number that may be irritating if customers want on the spot assist
as well as aren't locating that assist over on-line chat. It may also be irritating for customers
who're extra cushy searching for assist over the phone. Furthermore, it become located that
people interplay remains integrated via way of means of customers within the banking sector,
so this may be something Revolut need to consider launching. Another weak point with
Revolut offerings is they price downturn expenses for customers who need to change to a less
expensive money alternative or for people with a top class funds who simply to shut their
money altogether.
Opportunities
An essential possibility for Revolut is in addition enlargement into regions outdoor of
Europe. A unique possibility may be in Hong-Kong, wherein banking at retail sector may be
very worthwhile as well as there is lots of capability for online-simplest banks. The next
essential possibility is the age bracket of 18-27 years as 40 per cent are deciding on to apply a
cell banking application as their number one bank, in place of a greater famous image. The
one more marketplace that is an appropriate possibility for Revolut is in the age group of18-
27, however particularly guests inside this age section. This is due to the fact the agency has
some alternatives, which includes forex exchange, that might attraction to visitors.
Threats
Traditional financial institutions are looking to preserve up with online-simplest
through making an investment in more recent technologies, for instance Lloyds has made
over their banking application, together with the creation of a financial savings pot, as well as
on the spontaneous price updates. Competitors Monzo along with Starling provide a few
hobby with positive money standards as well as companions such as Monzo has done
partnership with Osk North along with now gives 1% with an on the spontaneous get right of
entry to funds, with a minimal preliminary security of £500, while Revolut gives no hobby at
all. Rival firms such as Monzoas well as Starling additionally provide limitless withdrawals
from ATM, while Revolut simplest permit free up to £200.
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Corporate Social Responsibility by Revolut
The concept of corporate social responsibility refers performance of certain activities
within the society by each company out of their annual profits each year. The aim of
conducting CSR is to assist and develop society with various aspects such as providing
education, infrastructure health and sanitation or as well as acquiring town or village with
their wholesome responsibility. It is a mandatory part for each company to perform CSR
activities regularly and present its description on company’s books of accounts along with a
publication upon its official website. The CSR activity done by the company Revolut is
mentioned below:
Revolut partnership with Pact Coffee
Pact Coffee has constantly been approximately deranging the reputation quo.
Considering the conventional deliver flow, in which cultivators lose out on the fee of big
groups as well as reducing out needless points, they have made certain everybody advantages
as an output - the agricultures, their clients, and the commercial enterprise itself. And
meaning partnering with a revolutionary rule-breaker like Revolut simply makes value. They
were deranging conventional economic offerings to develop a “global past banking”. One in
which clients is not strike through excessive fees, in which they were the use of newest
thoughts as well as latest technologies to alternate how matters operates. Not simplest do they
direct with their perspectives on converting matters for the development (matters which have
constantly been achieved in a specific way), in addition they have the identical perspectives
on selling gender fairness in historically gent’s culture - imparting loose coding instructions
to women (Elmaghrabi, 2021). Like Pact coffee, their number one recognition is society,
carefully observed through revenues. That’s why they have imparted 30 days of loose
espresso as well as a loose espresso traveller package to workplaces which are collaborated
up through Revolut clients. Because groups that do efficient need to do nicely collaborate.
Innovation and creativity by the company
The concept of innovation and creativity defines a development of a new concept or
technology which makes the production, supply or operation process easy with less use of
time and efforts. Innovation means generation of new technology or new ways to serve the
customers along with a unique product which is being offers to customers with high level of
creativity that helps companies in attracting more and more customers or fostering their
business at large level. Revolut is the maximum efficient neobank, transferring the model
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within the monetary enterprise as well as developing it more difficult along with more
difficult for conventional banks to capture up. By imparting all of the middle capabilities they
had assumed from conventional banks with a change, they devise drastically higher person
reports that clients likes. Though it is handiest been available in the marketplace for almost
five consecutive years, the company Revolut has shoot up – accomplishing extra than 10
million customers as well as more than $800 million in assignment monetary resources.
Along with this, Revolut isn't the handiest neobank vibrating matters up. Monzo within the
United Kingdom, n26 in Germany, as well as Volt in Australia also are taking walks the
equal path (at an exclusive speed, though). The organisation Revolut constructed its change
through a variety of AHA instant. One of the primary ones they have is while you switch
amount, even supposing it’s simply five dollars (Kim and Lee, 2021). This easy deal is while
they recognize the price of Revolut. From the extreme initializing, Revolut identified they
had to maintain constructing as numerous reports as feasible to acquire them into that AHA
moment.
CONCLUSION
From the above report it can be concluded that scanning of SWOT analysis is very
much essential for companies in order to make their policies strong. Company’s corporate
social responsibility plays a very important role in its high brand image as well as
development along with an introduction of innovation or creativity within a business. In order
to have long term sustainability there is a need of imparting innovation with immense level of
creativity that brings higher revenues for the firm. Innovation involves implication of new
method in production or either offering services with a unique twist to the customers.
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REFERENCES
Books and Journals
Caldwell, P.K. and Akintunde, O.D., 2020. USA and Nigeria: SWOT Analysis of Social
Entrepreneurship. In Social Entrepreneurship and Corporate Social
Responsibility (pp. 161-174). Springer, Cham.
Dobrović, Ž. and Furjan, M.T., 2020, August. SWOT Analysis in the Strategic Planning
Process-Meta-modelling Approach. In 2020 IEEE 10th International Conference on
Intelligent Systems (IS) (pp. 574-579).IEEE.
Elmaghrabi, M.E., 2021. CSR committee attributes and CSR performance: UK
evidence. Corporate Governance: The International Journal of Business in Society.
Kim, K.H. and Lee, J., 2021. Creative and Gifted Education in Korea: Using the CATs Model
to Illustrate How Creativity Can Grow into Innovation. Handbook of Giftedness and
Talent Development in the Asia-Pacific, p.1071.
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