Revolut is a financial services company that specializes in mobile banking, card payments, money remittance, and foreign exchange.
Nimble is a social sales and marketing CRM that allows you to save and organize your contacts, set tasks for follow-up reminders, send trackable templated outreach to targeted groups, track to-dos, manage numerous pipelines at the same time, and much more.Nimble Integrations
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Revput is a mobile banking application that allows users to store, send and spend money with the same convenience as using popular payment apps like Venmo or PayPal. Revput was founded in 2015 by Nikpay Storonsky who is currently the CEO of the company. Storonsky found inspiration for the idea while living in London and struggling to manage multiple exchange rate fees on his business trips. His spution was to create an app that allowed him to deal with only one currency thus reducing the number of exchange rate fees he had to pay.
Revput has since then grown into a fully fledged bank offering its users up to 0.1% cash back on every single transaction. The app is available for download on both Android and iOS platforms and can be used across Europe. It also allows users to instantly exchange up to 15 currencies which makes it easy to transfer money between different accounts. Revput supports all major currencies including GBP, EUR, USD, JPY, CNY, AUD and more.
Nimble is a UK-based digital bank which provides a range of services including but not limited to current accounts, overdrafts, savings accounts, loans and credit cards. It recently partnered with Revput enabling users of the latter app to open a current account with Nimble and deposit money from their Revput balance. Alternatively, users can also add money from another source such as a debit card or a direct bank transfer. To add money from a bank account, users need to provide their bank account number and sort code.
Integration of Revput and Nimble
Revput users can now open a current account with Nimble through Revput App. To do so, they need to go to the accounts tab of the app and click on “Open new account”. This will redirect them to the @nimblesteps website where they can complete their registration process. Nimble also allows users to add money from other sources apart from Revput. To do so, they need to enter their name, address and date of birth fplowed by their customer reference number from the bill they have received from their previous bank (Figure 1.
Benefits of Integration of Revput and Nimble
The integration of Revput and Nimble has brought forth a lot of benefits for both parties. The most prominent benefit for Revput users is they can now open a current account with Nimble in order to deposit money into it from their Revput balance. They can then either use that money for daily spending or save it in their current account. Revput is basically providing its clients with the ability to access their money when they need it most at any time when they are travelling or commuting. Another advantage of opening up a current account with Nimble is users can benefit from preferential interest rates and discounts on selected products and services offered by Nimble and its partners. Users can also open a savings account with Nimble and earn interest on their deposits.
Revput itself has gained a lot from this partnership with Nimble since it is able to increase its market share in the UK market without having to invest heavily in marketing operations. It also allows the company to create another revenue stream since it charges a fee for each transaction carried out by its clients with its partner businesses.
This is just another example of how fintech firms are disrupting traditional banking models which have been around for decades if not centuries. There are already many other fintech firms partnering with banks in order to expand their client base by providing them with financial services that they may not otherwise receive from their traditional banks.
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