Revolut picks Equifax as UK data and analytics provider
Business and consumer insights firm Equifax has penned a deal with Revolut to become the challenger bank’s new data and analytics partner for the UK.
The partnership means Revolut’s app, which currently has over 16 million global users, is now powered by Equifax cloud-based data in both the UK and US.
Equifax says it will provide differentiated data assets and real-time predictive analytics to give Revolut a “faster, more informed view of customers and prospects” and allow the firm to make more informed decisions.
The deal follows Revolut’s huge $800 million Series E funding round last week, which the bank says will be used to fund the “first global financial super app”.
Luke Churchyard, head of credit at Revolut, says he hopes the partnership with Equifax will allow the firm “to build deeper predictive insights and customised solutions” into its app to give a “more detailed view of the needs of consumers”.
Revolut’s new funding takes its total valuation to $33 billion, making it one of the most valuable European fintechs ever.
It says the capital will also support the expansion of its offering to US customers and its entry into India and other international markets.