A fintech company is only as good as the security it provides its customers. London-based Revolut is a 3-year-old fintech start-up that offers an app-based banking alternative. The rapidly growing company allows its 4+ million users to send money worldwide in 150 currencies at a real-time exchange rate, with no fees, through a debit card.
With a goal of achieving 100 million customers in the next five years and plans to break into North American and Pacific markets, Revolut is disrupting the financial services industry with a broad range of innovative, money-saving options.
For Revolut, security starts from the moment a user registers for the Revolut app. Before gaining access to Revolut services, a registrant is asked to provide his or her phone number. That’s the point where two-factor authentication powered by the Nexmo SMS API kicks in.
According to Neil Shah, product manager at Revolut, “We needed Nexmo to provide an extra layer of security to know that the customers who are using the app are real. When a user creates a new Revolut account, a code is sent to their phone to make sure that they are a genuine user.
“We also use SMS to send reminders to customers who may have failed or forgotten to complete the second stage of our registration. Nexmo provides us with these capabilities.”
During the next year, as Revolut expands into additional regions such as the U.S., Canada, Australia, Singapore, and Japan, Nexmo’s proven scalability and reliability coupled with its broad international SMS capabilities, will help the company support millions of new users in every area of the globe.
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