Brand analysis
Something very interesting is happening with Revolut.
The brand started 2024 in bottom position in the Financial Services in the UK table. This changed in Q3 2024 when it overtook Metro Bank. In Q4 it outstripped RBS and tied with Virgin Money.
It is starting 2025 in 12th place.
The graph below shows a brand that is making consistent and incremental improvements to all areas of Customer Effort. All four pillars have grown for two straight quarters now and the growth is only ramping up.
‘Speed of Resolving Problems’ is up +7 wave on wave and ‘Knowledge & Expertise’ is up +5. ‘Valuing the Customer’ and ‘Style of Communication’ have grown by +4 points apiece.
Last year, Revolut launched a number of products to UK customers including its RevPoints loyalty scheme, eSIM service for travel and Mobile Wallets, which allow for faster transfers. This breadth of solutions goes some way to explaining the increasing scores we’ve seen for our ‘Valuing the customer’ question – ‘How would you rate the range of solutions that were suitable?’ For Revolut, 40% of its customer say ‘Excellent’.
The brand has faced some negative headlines around fraud in recent months, which it has responded to with the launch of ’in-app calls’
The brand has big plans for customer service in 2025. Revolut has announced a new AI-powered assistant to better support customers. “Revolut’s financial companion will adapt to customers' needs and preferences in-app, guiding them towards smarter money habits, enhanced financial decision-making and streamlined admin,” promises a press release.
Will we see these innovations continue to drive Customer Effort? Stay tuned to the CEI to find out.