Paroma Chatterjee, CEO of Revolut India, reflects on leaving corporate banking in 2010 to join Airtel Money during the early era of mobile payments.
Disclosure
Chatterjee: Revolut refuses to partner with banks for core product deployment
“For core product deployment, Revolue does not look at partnerships. What I meant is a lot of Fintechs you will see getting into partnerships with banks or others to have a quicker go to market. You would see we've been patient over the last two, three years. I…”
Disclosure
Chatterjee: Revolut aims to reach 100M users and 100 countries by 2030
“To want to serve a hundred million users meaningfully across the world. To be present in a hundred countries before 2030 years out.”
Assertion Not checkable as stated
Chatterjee: Many global fintechs entering India over 25 years have failed
“So a lot of global fintechs have tried over the last 25 years to dabble their feet in, but for whatever reason a lot of them have not necessarily survived in a meaningful way over time”
Assertion Partly supported
Chatterjee: Revolut is valued at $72B, topping Barclays and NatWest
“We're valued at seventy two billion dollars, the second highest valued fintech, higher valued than a lot of banks, UK based banks, like your Barclays, NatWest, et cetera, where Revolut is today valued higher than that, the second highest valued fintech globall…”
Assertion Not checkable as stated
Chatterjee: No Indian fintech holds direct licenses while being digital-first
“If you think about it, there is nobody else who has thought of it completely tech or digital first, has taken their own licenses and then interpreted the license in their own way.”
Prediction Not checkable as stated
Chatterjee: Three shifts will define global finance within five years
“So I think if you ask me, top three will be those hyper personalization, completely embedded Everyday finance and tokenization leading to fractional ownerships of assets, I think would be the three most defining changes that we'll witness in the next four, fiv…”