Revolut CEO sets out ambitions beyond banking, citing transaction-trained AI

Revolut chief executive Nik Storonsky said in Turin on October 9, 2026 that the company plans to expand beyond financial services into a broader range of technology products, Reuters reported. He cited AI models trained on customer transaction data as part of that ambition, putting the use of its customers’ daily activity at the centre of his account of the company’s technology capabilities.

Speaking at the Wave by Vento technology forum, Storonsky described a long-term goal of reaching a scale comparable with the biggest US technology companies. Reuters’ account did not identify specific new nonfinancial products or a launch timetable attached to those remarks.

What Storonsky disclosed about Revolut’s AI

Storonsky said Revolut had developed proprietary AI models using techniques similar to those underpinning large language models. The description is a claim by the company’s chief executive; the report provides no independently tested performance results or technical documentation establishing what the models can do.

“With 30 to 40 million transactions taking place every day on Revolut, we have a unique dataset to build on,” Storonsky said, according to Reuters. That figure describes daily transactions, rather than the number of individual customers contributing data.

Revolut Mobile already operates in Poland and the UK

Revolut already describes services beyond conventional banking on its annual-report webpage. The company says Revolut Mobile is live in Poland and the UK, offering domestic data, calls and texts alongside global roaming. It also advertises eSIM services. These are existing offerings, rather than launches announced at the Turin forum.

The company says product availability depends on a customer’s country of residence and that unlimited mobile data is subject to an acceptable-use policy. The mobile offering therefore does not establish that every Revolut customer can access the same services.

The same webpage describes a Revolut Pay checkout integration with Booking.com and says 4.8 million customers use Revolut Pay. That provides another example of the company’s existing commercial reach, in this case through payments for travel purchases.

At its October 9 retrieval, the webpage described Revolut’s worldwide retail customer base as more than 80 million, with a goal of reaching 100 million by mid-2027. The first figure is a current company webpage claim, not a customer total for the end of 2025; the second is a target.

Growth and banking licences accompany the technology ambition

For 2025, Revolut reported 57% growth in sterling profit before tax and 66% growth in total customer balances. It also reported 33% growth in business customers. Those historical operating figures predate the newly stated ambition and do not measure its results.

Reuters reported that Revolut was valued at $115 billion in a secondary share sale in 2026, compared with $45 billion in 2024. Those figures are private transaction valuations.

Banking expansion is also continuing. According to Reuters, Revolut received preliminary approval for a US national banking licence in September, after winning licences in Britain and France earlier in 2026. Preliminary US approval does not establish that a US banking launch has been completed.

Transaction monitoring and customer data remain material context

On April 8, 2025, the Bank of Lithuania announced an administrative agreement with Revolut Bank UAB and a €3.5 million fine for breaches of money-laundering prevention requirements. This was an earlier regulatory finding, not a response to Storonsky’s October 9 remarks.

The regulator said a scheduled inspection found deficiencies in monitoring business relationships and transactions, meaning the bank did not always properly identify suspicious customer transactions. It said Revolut Bank UAB acknowledged the breaches and deficiencies, initiated corrective measures and prepared an agreed remediation plan before the agreement.

Reuters reported Revolut’s response that the investigation found no confirmed instances of money laundering and that it had strengthened its systems. That response concerns confirmed laundering; the regulator’s findings concerned shortcomings in monitoring.

Separately, Reuters reported that Revolut accidentally sent customer data to hackers posing as government investigators in September 2026. The company said its systems and customer funds were unaffected. The report did not specify the number of affected customers or the data fields involved, and it established no causal connection between that incident and the AI training described by Storonsky.