Business Report: Revolut - Analysis of SWOT, CSR, and Innovation

This business report provides a comprehensive analysis of Revolut, a British financial technology company. It begins with an introduction to the company, its services, structure, and financial performance. The core of the report is a SWOT analysis that identifies Revolut's strengths, such as innovative services and a large user base, and weaknesses, including the lack of Financial Services Compensation Scheme protection and high downgrade fees. The report then delves into Revolut's corporate social responsibility (CSR) initiatives, highlighting its contributions to various charities and its commitment to employee wellbeing. Furthermore, it examines the company's approach to innovation and creativity, emphasizing its participative management style and the development of new financial services. The report concludes with a summary of findings and recommendations for improvement, such as implementing the Financial Services Compensation Scheme and expanding operations. References to relevant academic and industry sources are also included.

BUSINESS
REPORT

TABLE OF CONTENTS
 INTRODUCTION
 Analysis
 SWOT Analysis of Revolut
 Corporate social responsibility by Revolut
 Innovation and creativity in Revolut
 CONCLUSION
 RECOMMENDATION
 REFERENCES

INTRODUCTION
 Business report refers to evaluation of a particular issue, set of circumstances and
financial operations related to a business organisation.
 This business report aims at discussing internal and external circumstances of Revolut by
application of SWOT analysis and will also discuss about corporate social responsibility
of company along with innovation and creativity within organisation.
 Revolut is a British financial technology company, founded in 2015 by Nikolay
Storonsky and Vlad Yatsenko and is headquartered at London, England, UK. R
 evolut operates in FinTech industry and products of the company involve current
accounts, debit cards, stock trading, currency exchange, foreign exchange and insurance.
 Services of Revolut involve peer-to-peer payments and currency exchange and company
employ around 1596 employees.

CONT..
 Structure of the company involves functional structure and there are 7 members in board of
directors and along with this in executive leadership there are 17 members for different
functional area within company.
 Services of Revolut are available in Europe, America and Asia pacific. Revolut is a start-up
that is based on funding and total funding raised by company is £627 million and in this fund
raised in 2020 is £383 million and revenue of the company is £58.24 million.
 Main competitors of the company involves Brain Tree, Green Dot, Monzo Bank, N26. These
companies are Fintech companies of America, UK and Germany that are competitors for
Revolut.

SWOT ANALYSIS OF REVOLUT
Strengths
 Effective range of innovative services in finance
 Large number of users
 Offer effective security options
 Cheapest while sending money to abroad
Weaknesses
 Consumers of the company are not protected by Financial Services Compensation Scheme
 Does not offer telephone number for contacting
 Charge downgrade fees when customers want to close their account or convert to cheaper
account
 Advertising campaign of Revolut was accused

CONT..
Opportunities
 Expansion of Revolut in more countries
 Increasing number of users preferring online and application
banking
Threats
 Strong Competition
 Recession
 Performance and offering of Revolut

CORPORATE SOCIAL RESPONSIBILITY
BY REVOLUT
 Corporate social responsibility is a self-regulatory business model
with help of businesses can fulfil their social accountability. This social
accountability of organisations involve organisation itself, stakeholders of
the company, and the public. In its organisations, it ensures that it has a
inclusive work environment which involves diversified workforce.
Revolut considers different aspects of wellbeing of employees and
involves women empowerment, wellbeing of employees, pride of
employees, and also provide a workplace for parents. This is one way in
which Revolut is fulfilling its corporate social responsibility by ensuring
wellbeing of its internal stakeholders.

CONT..
 Other than this, Revolut also contribute in different causes through
charity and encourage donations for different causes. Charities and
causes that are supported by Revolut involve British Red Cross, this is
a international organisation for humanitarian aids. Save the children is
another cause and organisation that is supported by Revolut, this is
aimed at improving lives of children through better education, health
care, and economic opportunities. Along with this it also provide
emergency aid in natural disasters, wars and other conflicts. WWF is
another cause and organisation supported by World Wide Fund for
Nature is an NGO that works for field of wilderness preservation and
reduction of human impact on the environment.
 Cancer research is also supported by Revolut this is a cancer research
and awareness charity in UK. ILGA is another cause supported by
Revolut through donation in this it supports International Lesbian,
Gay, Bisexual, Trans and Intersex Association.

INNOVATION AND
CREATIVITY IN REVOLUT
 Innovation is concerned with identifying and developing new solutions for problems
that are better and more feasible than existing solutions. Innovation within
organisation has become important for several reasons and one of the most important
reason for this is customer satisfaction and sustainable growth of the company.
Innovation also is basis for entrepreneurial organisations and start-ups. Revoult is a
start-up organisation and this is why it is mainly based on element of innovation.
There are several services that are provided by Revolut and they are innovative
services including currency exchange and sending money in other countries other than
this, it also provide services for cryptocurrency and its exchange. Innovation is basis
for all these and several other services of Revolut. Innovation is also one of the reason
that Revolut was Deloitte’s fastest growing fintech company in 2019.

CONT..
 In order to ensure that they get creative and innovative ideas from
their employees’ leadership and management of Revolut is
participative. Participative management and leadership ensures
that employees are able to say and share what they think can add
value in company and also in performance of employees as well.
Innovation and creativity is also one of the reason that Revolut
started from a fintech company now offers several types of
services. These services involve managing accounts of customers
with their spending insights, budgeting tools and open banking.

CONCLUSION
On the basis of above discussion it can be concluded that in a short
span of time Revolut has managed to succeed in its industry and
became one of the best and most successful Fintech company. This
can also be identified and understood through which company has
managed to succeed. However, there are certain weaknesses of
Revolut that can contribute in failure and slowdown growth of
Revolut. This means that there are certain important elements of
services that are provided by competitors of the company but are
not provided by Revolut.

RECOMMENDATION
 Here, it can be recommended that company should involve Financial
Services Compensation Scheme because such elements help customers
and trusting services that are different from traditional financial and
banking services.
 Revolut should also expand its operations because it has potential and
strength for that and can become successful through innovative and
creative services that it provide to customers.