Interview with Nikolay Storonsky, CEO of Revolut: Expanding Global Payments, Compliance and Embedded Finance

Company Overview

Revolut, founded in 2015 by Nikolay Storonsky and Vlad Yatsenko, has evolved from a digital wallet into one of Europe’s leading electronic money institutions (EMI) and financial super apps. Licensed as an EMI across the EEA through its Lithuanian entity, Revolut operates additional permissions in the UK and various other markets under a passporting and agent model. The company serves over 40 million retail users and an expanding portfolio of business clients, offering account issuance, payments, cards, acquiring, treasury, and embedded finance solutions.

Revolut’s product stack spans IBAN issuing, SEPA and SEPA Instant transfers, payment initiation (PIS), account information services (AIS), FX conversions, acquiring, and business onboarding tools. With regulatory approvals extending into digital asset services and a growing footprint in acquiring and merchant acceptance, Revolut positions itself not merely as a payments provider but as an integrated financial infrastructure platform.

The company recently announced new Instant SEPA routing coverage across the Eurozone and enhancements in its Open Banking capabilities. In parallel, its global expansion strategy includes new licenses in Latin America and Asia, broader access to corporate credit products, and a growing set of APIs for fintechs and platforms.

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Interview with Nikolay Storonsky, CEO of Revolut

1. Could you outline your main responsibilities as CEO of Revolut?

My role encompasses strategic direction, regulatory engagement, and ensuring product alignment with both customer needs and compliance standards. I work closely with regional CEOs and product leads to balance innovation with governance and operational resilience.

2. How is Revolut regulated across Europe and globally?

In the EEA, Revolut operates as a licensed Electronic Money Institution (EMI) under the Central Bank of Lithuania, authorized to issue IBANs and provide payment services such as SEPA and SEPA Instant. In the UK, Revolut has separate permissions under the FCA. We also maintain agent relationships in selected markets, and are expanding banking licenses in specific jurisdictions like Ireland and Australia.

3. What are the main components of Revolut’s core product stack for businesses?

Our platform enables IBAN and virtual account issuance, SEPA/SCT Inst transfers, card issuance (physical and virtual), multi-currency FX, Open Banking-based PIS/AIS, and account reconciliation tools. Companies access all services via API or dashboard.

4. Which industries are your primary B2B clients?

We serve marketplaces, SaaS platforms, gig-economy operators, gaming, digital content, and regulated crypto service providers. Our infrastructure appeals to platforms handling high-frequency payouts and global settlements.

5. What differentiates Revolut’s SEPA Instant offering?

We route SEPA Instant automatically where counterparties support it. Coverage currently exceeds 95% of reachable European banks, ensuring sub-10-second euro transfers. When unavailable, we default to SCT standard settlements.

6. Can you explain Revolut’s approach to Open Banking?

Through Revolut’s AIS and PIS APIs, clients can aggregate third-party bank data, initiate payments, and enable account-to-account flows directly from user interfaces. We support PSD2-compliant authentication and are preparing for PSD3/MiCA integration.

7. How does Revolut ensure compliance and AML standards?

We maintain a three-line-of-defense model. KYC and KYB processes are fully digital with ongoing screening via sanctions, PEP, and transaction monitoring tools. Our risk team calibrates thresholds per sector and geography.

8. What is your current risk appetite in terms of vertical onboarding?

We operate a tiered risk model. While we support high-risk verticals under enhanced due diligence (such as crypto exchanges or affiliates), we only onboard entities with transparent ownership, good regulatory standing, and verifiable flow of funds.

9. How long does corporate onboarding typically take?

For low-risk entities, onboarding can be completed within 24–48 hours. For regulated or complex structures, timelines may extend to 5–10 business days depending on documentation and ownership checks.

10. Which documents are required during business onboarding?

We require certificates of incorporation, shareholder registers, director details, proof of business activity, and flow-of-funds explanations. Ultimate beneficial owners provide identification and address proof.

11. How does Revolut view competition with Stripe, Adyen, Banking Circle, and others?

Stripe and Adyen are strong in acquiring; Banking Circle focuses on B2B payments infrastructure. Revolut’s competitive edge lies in combining both acquiring and issuing under one EMI structure, integrated FX, and direct end-user reach through our app ecosystem.

12. Can you elaborate on your card issuing and processing infrastructure?

We issue cards via Mastercard and Visa networks with in-house BIN sponsorship. Our processors manage instant issuing, tokenization, 3DS authentication, and real-time spend controls via API.

13. What about Revolut’s acquiring and merchant acceptance services?

Revolut Acquiring supports multi-currency card acceptance with real-time settlement to Revolut Business accounts. We cater to both e-commerce and in-app purchases with API integration, SDKs, and dashboard-based reconciliation.

14. How do you approach pricing for Revolut Business services?

Pricing varies by volume and risk profile. Generally, SEPA transactions are low-cost, FX margins are under 0.5%, and acquiring fees start competitively within European averages. Our tiered plans suit startups to enterprise clients.

15. What recent enhancements have been made to Revolut’s SEPA and FX infrastructure?

We expanded direct participation in SEPA Instant and improved FX execution with new liquidity providers. Transactions benefit from better routing, lower latency, and optimized settlement logic for cross-border accounts.

16. Tell us about your technical stack and developer capabilities.

Developers access our RESTful APIs, sandbox environments, and real-time webhooks for balance updates, payouts, and KYC events. Our dashboard provides granular permissions, audit logs, and multi-entity management.

17. How does Revolut handle embedded finance opportunities?

We power embedded account and payment capabilities for fintechs and platforms through white-labeled IBANs, FX routing, and card issuance APIs. This allows partners to integrate compliant payment rails under our regulated umbrella.

18. What is Revolut’s stance on MiCA and crypto regulation readiness?

Revolut proactively aligns with MiCA requirements for digital asset custody and exchange services. We hold local registrations as a crypto-asset service provider and design our crypto flows under strong AML and reporting frameworks.

19. What is the company’s growth roadmap for the next 12–24 months?

Our priorities include expanding banking licenses in new markets, scaling SEPA Instant reach to 100%, introducing credit products for SMEs, and deepening the developer platform to compete in embedded finance infrastructure.

20. How do you view Revolut’s long-term mission?

We aim to become a universal financial layer connecting businesses and individuals to global payment networks—removing borders and complexity from everyday finance while maintaining top-tier regulatory compliance.

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FAQ

Is Revolut a licensed bank?

In the EEA, Revolut operates primarily as an EMI under the Central Bank of Lithuania. It also holds a banking license for specific credit operations in several countries, but daily payments and accounts are under the EMI license.

Does Revolut support SEPA Instant?

Yes, SEPA Instant transfers are supported for the majority of European counterparties and processed within seconds where the recipient bank supports SCT Inst.

Can Revolut onboard crypto exchanges or affiliate businesses?

Yes, under enhanced due diligence. We assess regulatory status, compliance procedures, and business transparency before approval.

What are Revolut’s onboarding requirements?

Businesses must provide formation certificates, shareholder structure, ID of UBOs, and business descriptions. Onboarding may complete in 1–5 days depending on risk class.

Does Revolut provide IBANs and local EUR accounts?

Yes, each business account receives unique IBANs for EUR transactions and multi-currency accounts for global payments.

Is Open Banking supported through Revolut’s API?

Yes, Revolut provides PIS and AIS access through its developer APIs, enabling seamless account funding and financial data aggregation.

Can Revolut serve adult or higher-risk content platforms?

Case-by-case. These clients are reviewed for compliance commitments, and additional documentation may be required.

What are the main advantages of Revolut Business vs Stripe or Adyen?

Unified platform for issuing, acquiring, FX, and Open Banking within one balance structure—reducing reconciliation and time-to-activate for merchants.

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To explore Revolut’s business solutions and developer tools, visit Revolut’s official site.