Revolut - the $45 Billion Fintech Startup and the Art of Community Building for Fintech in Vietnam

In the rapidly evolving fintech landscape, Revolut stands out as a shining example of how to build and leverage a strong community.

Since its inception, Revolut has not only disrupted traditional banking but also redefined how fintech companies can engage with their users.

This blog explores the lessons Revolut offers in community building and what other fintech companies can learn from its approach.

The Rise of Revolut

Revolut, launched in 2015, began as a simple solution for avoiding currency exchange fees. Fast forward to today, and it has become a global financial super-app with millions of users.

Revolut's success is not just due to its innovative products but also its ability to cultivate a loyal and engaged community around its brand.

Revolut’s Community-Building Strategy

Revolut has effectively utilized social media, blogs, and other digital channels to communicate with users, share updates, and gather feedback.

Their approach is not just about broadcasting messages but creating a two-way conversation with their audience:

• Product Development Driven by Community Feedback: One of Revolut’s strengths is its responsiveness to user feedback. They actively listen to what their community wants and adapt their products accordingly. This approach not only helps in product improvement but also makes users feel valued and heard.
• Referral Programs: Revolut’s referral program has been a game-changer in its growth strategy. By incentivizing users to invite friends and family, Revolut has turned its users into brand ambassadors, driving organic growth at a minimal cost.

The Benefits of Community Building in Fintech

Here are 3 benefits that Revolut has reaped from their efforts in community building

• Increased Customer Loyalty: A strong community fosters customer loyalty. Users who feel connected to a brand are more likely to stick around and advocate for it.
• Building Trust: In the fintech world, trust is everything. When potential users see an active and engaged community, it builds credibility and trust in the brand.
• Cost-Effective Growth: Community-driven growth is often more sustainable and cost-effective than traditional marketing. Word-of-mouth and user-generated content can spread quickly, leading to rapid expansion.

Lessons for Other Fintech Companies in Vietnam

Here are 3 lessons that FinFan has drawn valuable lessons from the success of Revolut, and these can be applied to most fintech companies in Vietnam, one of which has led to unexpected achievements.

• Create Value for the Community: Focus on delivering real value to your users. Whether it’s through useful content, exclusive offers, or simply a platform where they can voice their opinions, make sure your community feels appreciated.

Just like FinFan always want to give the useful knowledge for remittance from the US, the UK, Australia, Japan, South Korea,… to Vietnam directly to ewallet of recipients through our blog posts.

Furthermore, we consistently strive to listen to our customers' feedback and challenges in remitting money to Vietnam, in order to incorporate them into our blogs in the most insightful manner possible.

Thanks to this, within just six months of launching our new website, we have achieved very promising results, with the keyword 'remittance to Vietnam ewallet' consistently ranking at the top of search results. Additionally, the conversion rate of transactions from international partners to Vietnam through e-wallets partnered with FinFan has tripled compared to the same period in 2023.

• Listen and Engage: It’s not enough to have a community; you need to engage with it. Respond to feedback, address concerns, and show that you’re listening. This builds a deeper connection with your users.
• Develop Incentive Programs: Consider implementing referral programs or other incentives that encourage users to spread the word. These programs can be a powerful tool for community growth.

Conclusion Regarding the Art of Community Building for Fintech in Vietnam through the $45 Billion Fintech Startup – Revolut

Revolut’s success is a testament to the power of community in fintech. By focusing on community building, fintech companies can not only grow their user base but also foster loyalty and trust.

For fintech players in Vietnam and beyond, there’s much to learn from Revolut’s journey. Building a strong community is not just a strategy for growth—it's a pathway to long-term success.

This article was curated and authored by FinFan's market research and development team, alongside our marketing department.

About FinFan

FinFan is a cross-border embedded financial services company that focuses on mass disbursement, fund collection, card processing, IBAN, and digital APMs solutions, which can provide valuable input and integration on and for the same.

FinFan is already integrated with almost the world's well-known MTOs, PSPs, switch, and core fintech platforms such as Money Gram, Thunes, Qiwi, Remitly, World Remit, Bancore, PaySend, Terrapay, Ria Money Transfer (Euronet), Dlocal, Ripple, TripleA, FoMo Pay, Wings, etc.

For more information, please get in touch with us through:

🌐https://finfan.io

📞(+84) 2866 85 3317

✉ support@finfan.vn

LinkedIn: [FinFan](https://www.linkedin.com/company/finfanio" \t "%5Fblank)