“We do have an instance payment infrastructure called PIX. That’s a huge case of financial inclusion.” – 03:07
Patricia quickly transitions to the recent announcement regarding Revolut’s entry into the UAE market. Glauber shares that the company has received in-principle approval to operate in the region, marking a pivotal moment in their ambitious plan to expand into 100 countries.
Glauber reflects on Revolut’s journey in Brazil, which was the company’s first expansion market in Latin America. He discusses the rapid growth experienced over the past three years, detailing the steps taken to establish a regulated financial services company, including obtaining licenses, developing products, and building a team. He notes that Brazil’s competitive market requires consumers to use multiple apps for their financial needs, making it crucial for Revolut to provide a comprehensive solution.
The conversation shifts to the innovative products that Revolut is focusing on in Brazil. Glauber emphasizes the importance of leveraging local payment infrastructure, such as the instant payment system PIX, which has significantly contributed to financial inclusion. He explains that Brazilians have a cultural inclination towards credit cards, and Revolut is adapting to this behavior by gradually launching a premium credit card offering.
As the discussion progresses, Patricia inquires about how Revolut ensures customer loyalty in such a competitive landscape. Glauber reveals the company’s “secret sauce”: a strong emphasis on product development. By delivering high-quality, user-friendly financial solutions at a relatively low cost, Revolut aims to create a seamless experience that keeps customers engaged and encourages them to recommend the service to others.