Revolut is planning to move into the private banking market, expanding its service suite beyond the retail sector to cater for the needs of high net worth individuals.
The financial super-app has posted job listings for a private banking compliance manager, legal counsel and head of relationship management on its website.
States the relationship manager advert: "Our Private Banking team is the cornerstone of our exclusive new offering, driving long-term relationships with high-net-worth individuals across the globe. We operate with precision and expertise: from onboarding to ongoing financial guidance, we apply a solution-oriented approach and use our know-how to grow and nurture our high-value customer relationships.
"We're looking for a Head of Relationship Management to lead our team of Relationship Managers, driving the strategy and growth of our private banking division."
Alongside its plain vanilla retail financial services, Revolut's all-round banking app caters to the needs of of a cadre of young global professionals and business owners who may do most of their business with Revolut but go elsewhere to manage their assets.
A push into the private banking market will pitch Revolut into competition with a number of other WealthTech startups, such as London firm Sidekick and Swiss neobank Alpian, as well as with the large global incumbents.