Ooni Koda
  1. Home
  2. /
  3. Newsfeed
  4. /
  5. Revolut Joins Hands with BRCC: Bridging Trade between...

Revolut Joins Hands with BRCC: Bridging Trade between UK and Romania

June 20, 2024

  In 2023, the firm processed almost 74,000 transactions per hour for its Romanian retail customers. Revolut Bank UAB, licensed by the European Central Bank and regulated by the Bank of Lithuania, operates in 30 EU markets.   Revolut, the British fintech company, has joined the British-Romanian Chamber of Commerce (BRCC), https://www.financemagnates.com/ informs. This organization promotes trade and investment between the United Kingdom and Romania. Revolut has over 40 million retail customers worldwide, including more than 3.5 million in Romania.   Revolut Joins BRCC   Revolut's services are popular among Romanians, with an adoption rate of 43% among the working-age population. As a BRCC member, the company aims to explore new market opportunities for its acquiring and business-to-business products. Revolut also seeks to reinforce its commitment to the Romanian market as a service provider, employer, and economic contributor.   Revolut plays a role in supporting the connections between Romanians in the UK and their families back home. The company’s technology facilitates easier, faster, and more affordable money transfers. Its financial products and services help customers manage various aspects of their financial lives. Gabriela Simion, General Manager of Revolut Bank UAB Branch in Romania, stated: “As a British company established 9 years ago in London, Revolut is a success story in Romania and a beloved brand in the finance industry for millions of local customers."   "Since entering the local market, Revolut has been well-received by Romanian clients. Through innovation and a focus on user experience, we have built a financial bridge between the UK and Romania.   UK-Romania Money Transfers   Romanians use Revolut for a variety of financial activities. These include sending and receiving money, currency exchange, making payments, saving, lending, investing, and managing family budgets. In 2023, Revolut processed nearly 74,000 transactions per hour for its Romanian retail customers. The UK is the main source of international money transfers to Romania via Revolut, with about 600,000 transactions per quarter.   In the business segment, Revolut Business customers can link their accounts to Revolut Reader and access various tools. These include local and international payments, foreign exchange at interbank rates, payment requests, expense management, subscriptions, company cards, and payroll.   In Romania, Revolut operates through its banking entity, Revolut Bank UAB. This institution is licensed by the European Central Bank and regulated by the Bank of Lithuania. Revolut Bank UAB has expanded its banking license across multiple EU markets and now operates in 30 markets within the European Economic Area, serving over 30 million customers.    

Read in full - click here
Vancouver City Hall proclaims June 24 as the Universal Day of the Traditional Romanian Blouse

The city of Vancouver, in western Canada, recently proclaimed June 24 as the Universal Day of the Traditional Romanian Blouse.  On June 20, during a ceremony at the Vancouver City Hall, deputy mayor Lenny Zhou handed a Proclamation to Gabriel Rotaru, the Consul General of Romania. This proclamation, issued by mayor Ken Sim on behalf […]

“Namaste India” Festival returns to Bucharest at the Botanical Garden

The "Namaste India" Festival returns with its 15th edition, taking place from June 28 to 30 at the Botanical Garden in Bucharest. Over 50 events celebrating the richness and diversity of Indian traditions will take place daily from 9:00 AM to 8:00 PM. Dance performances, concerts, book launches, and yoga classes, along with workshops, readings, […]

CGS Romania: Local outsourcing market to grow by more than 30% over the next five years

In a period marked by global economic challenges, the Romanian business process outsourcing (BPO) market continues to grow from year to year, according to Computer Generated Solutions (CGS) Romania. With an estimated value of USD 375 million in 2024, the local BPO market can grow by more than 30% over the next five years. “Romania […]

President of the Romanian Cultural Institute becomes head of EU network of national cultural institutes

The president of the Romanian Cultural Institute (ICR), Liviu Jicman, took on the role of President of EUNIC – European Union National Institutes for Culture during the General Assembly held in Bucharest on June 19-20, 2024.  EUNIC is the network of national cultural institutes from EU member states, as well as the UK and Ukraine, […]

Romania’s 2024 Innovators for Children accelerator opens registrations for startups, entrepreneurs

Innovators for Children, the acceleration program dedicated to developing and implementing tech solutions that improve the lives of children and youth, opened registrations for its sixth edition. The accelerator is looking for startups, initiatives, and social entrepreneurs from Romania that use technology to develop solutions for the education, health, and well-being of children and adolescents […]

Romanian appointed to head Pull & Bear brand globally

The Spanish group Inditex, the world's largest clothing retailer, has appointed Romanian Lucian Dorobanțu as the global business coordinator for its Pull & Bear brand.  Inditex owns the Pull & Bear brand, as well as Zara, Bershka, Massimo Dutti, and Stradivarius. Lucian Dorobanțu has been the brand director for Northern Europe and also led the […]