Revolut, a London-headquartered challenger bank, has launched Revolut 9.0, a new version of its mobile app that includes new features, such as joint accounts, group chats and a customizable home screen. The British-Lithuanian neobank announced the new version on Wednesday in a blog post.

Revolut Launches Revolut 9.0

According to the fintech Fintech Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Financial Technology (fintech) is defined as ay technology that is geared towards automating and enhancing the delivery and application of financial services. The origin of the term fintechs can be traced back to the 1990s where it was primarily used as a back-end system technology for renowned financial institutions. However, it has since grown outside the business sector with an increased focus upon consumer services.What Purpose Do Fintechs Serve?The main purpose of fintechs would be to suppl Read this Term company, the joint accounts feature means its users can send, split and spend with whoever they “do life with." This feature works for two people working in the same country the firm said. However, it pointed out that the function is only available for its users living in the European Economic Area (EEA).

On the contrary, the group chat feature is available to all Revolut customers across the globe. With this feature, users can chat, split and settle bits with group chats. This way, they make their “shared expenses smoother to settle up.”

Furthermore, Revolut explained that the new home screen of the app makes it possible for users to “mix and match your most-used features like analytics Analytics Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision-making. In the trading space, analytics are applied in a predictive manner in an attempt to forecast the price more accurately. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analy Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision-making. In the trading space, analytics are applied in a predictive manner in an attempt to forecast the price more accurately. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analy Read this Term, top contacts and more." This feature enables users to create their own shortcuts with Revolut's customizable widgets the firm added.

Revolut Delays RevCoin Debut

Revolut introduced cryptocurrency to its offerings during the 2017 bull market peak. Subsequently, the challenger bank has been making efforts to expand its offerings. In February, the firm launched the 'soft test' version of its cryptocurrency staking service for its EEA and UK customers.

Additionally, Revolut is eyeing the launch of its own cryptocurrency called RevCoin. It first disclosed the plan to launch RevCoin in May 2022. However, the firm has temporarily shelved the plan to launch the native digital currency.

Financial News, citing people familiar with the matter, reported that the postponement is likely related to the collapse of the cryptocurrency exchange, FTX. A spokesperson for the firm told the outlet that the challenger bank was evaluating market conditions and considering the best time to launch the currency.

Revolut Sees First Full-Year Profit

Meanwhile, the digital bank is making progress with its business expansion plan, despite the challenges. In August last year, the digital bank gained the approval of the Cyprus Securities and Exchange Commission to offer cryptocurrency services across the European Union countries. In 2022, the bank obtained in-principle approval from the Monetary Authority of Singapore to offer more than 80 tokens in their platform, including Apecoin and the Sandbox.

Meanwhile, in 2021, Revolut reported its first full year of profit, returning £59.1 million ($71 million) in operating profit. On top of that, the fintech firm generated total revenue of £636.2 million ($769 million), beating its previous results in 2020 by threefold. The report was released after Revolut missed several timelines to represent the 2021 financial statement.

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