TURIN: Revolut plans to expand beyond financial services and develop a broader range of technology products as it seeks to strengthen its global presence, Chief Executive Nik Storonsky said on Friday.

Speaking at the Wave by Vento technology forum in Turin, Storonsky said the company had developed proprietary artificial intelligence (AI) models trained on customer transaction data. He said the technology uses techniques similar to those behind large language models.

Revolut processes between 30 million and 40 million transactions daily, giving it a substantial dataset for AI development, Storonsky said. His long-term ambition is to build a company that operates on a scale comparable to major US technology firms.

Revolut Valuation Surges to $115 Billion

Founded just over a decade ago, Revolut reached a valuation of $115 billion in a secondary share sale this year, up from $45 billion in 2024.

Its private valuation now exceeds the market capitalisation of major European banks, including Britain’s Barclays and France’s Société Générale.

The company’s plans reflect its ambition to expand beyond its core financial services business and compete across a wider range of technology markets.

Regulatory Scrutiny Follows Rapid Growth

Revolut’s expansion has also attracted regulatory attention. In 2025, Lithuania’s central bank imposed a €3.5 million fine over shortcomings in the company’s transaction-monitoring controls.

Revolut said the investigation found no confirmed cases of money laundering and that it had strengthened its monitoring systems.

In September, the company also disclosed that hackers had obtained customer data after posing as government investigators. Revolut said its systems and customer funds were unaffected.

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Revolut Expands International Banking Operations

Revolut has continued to expand its banking operations across major markets. The company received preliminary approval for a national banking licence in the United States in September, following banking licence developments in Britain and France earlier this year.

Storonsky also said on Thursday that if the company decides to go public, it would favour a primary stock market listing in the United States.

The company’s next phase of growth will test whether it can turn its transaction data and AI capabilities into broader technology offerings while managing regulatory requirements across international markets.