Revolut aims to take on Indian banks and their ‘criminal’ forex fees

Revolut, a leading fintech company, has set its sights on the Indian market with ambitious goals. The company aims to onboard 20 million users in India by 2030 and process more than $7 billion in transactions. Revolut's strategy is to disrupt the traditional banking industry in India, particularly targeting the "criminal" foreign exchange fees charged by banks. The company believes it can offer a more affordable and efficient alternative for Indian consumers and businesses. By leveraging its digital-first approach and innovative financial products, Revolut plans to provide a seamless and cost-effective platform for cross-border transactions, currency exchange, and other financial services. The company hopes to capitalize on the growing demand for digital financial solutions in the Indian market. The move into India is part of Revolut's broader global expansion strategy, as it seeks to challenge traditional financial institutions and establish itself as a leading player in the fintech industry worldwide.