Revolut considering setting up payment and technology hub in Ireland

UK financial technology company Revolut has expressed an interest in constructing a new “payments and technology hub” in Ireland.

Last month, Revolut reportedly started advertising for roles in Ireland and, on top of that, applied for an electronic money license in Ireland. The FinTech giants are planning to place a “strategic focus” on the country. Revolut currently holds electronic money licenses in Lithuania and, of course, the UK – which is where it is primarily based.

Revolut has said that they’re working with the relevant authorities to make this new information hub a reality. They have also said they plan to grow its Irish team in line with any progress made. Following the company’s success in Europe, specifically in the UK and Ireland, its focus has turned towards opening a headquarters in western Europe.

A Revolut spokesperson said the following to Silicon Republic.

“We have also decided to explore the creation of a payments and technology hub in the Republic of Ireland, which is well known for its technology focus and talent pool. Our investments in both these European countries has been driven by what is in the best interests of our 7 million customers.

We’re excited to be working with some of the most highly regarded tech and financial services talents in both these countries.”

The latest FinTech giant to gain traction among the Irish has a rapidly growing customer base. With Brexit looming over everyone’s heads, many markets strive to separate from their UK Markets to stay in EU trade. Revolut is quite likely following suit, with these recent changes. If Brexit hadn’t happened, it’s possible that Revolut would have taken aim at the UK instead.

Recent leadership changes in the company have set its goals towards expansion and development. The $2 billion-valued company recently appointed former Metro Bank finance director David MacLean as its chief financial officer. Their goals of advancement will be accelerated when their new CFO takes over later in the year.

Jobs will be available for data scientists, engineers and software developers when the branch eventually opens in the coming years. The company will wear a new face for the rapidly developing financial technology culture in Ireland. Revolut is only expected to grow in the coming years, as payment methods advance in the modern world.

Via: Silicon Republic