Competition from Revolut

Thought I’d share, they’ve just started assembling their team to enter capital markets. Evarvest is currently way ahead :slight_smile:

3 Likes

Thanks for sharing @m! I was wondering when the next details of Revolut’s trading platform would be released :wink:

From this post they have quite a way to go before their team is built! They first announced their entry into trading last June (2018) so I have been surprised of the silence up until now. I personally like their product as I’ve lived in various countries across the globe and it’s been a great help but I have noticed a slowdown in the release of new products. I can imagine a US launch would take-up quite a few resources!

I was interested also to read that they’ve hired an old school banker from Goldman Sachs, a company Revolut is very much a disrupting. Will be interested to see if the big bank culture starts to infilitrate it’s way into the fintech space with hires such as this.

4 Likes

Fresh from the press: https://blog.revolut.com/trading-revolut/

Only US stocks. I guess the above mentioned team will be for something else, maybe expansion of the product.

2 Likes

@m thanks for sharing! More competition is always good for consumers :wink:

There’s still a lot of skills needed to integrate with a company like DriveWealth which provides the infrastructure to FreeTrade, Invstr, Stake, Vested etc and now Revolut, to support fractional shares.

There’s additional dev time, and front end design, likewise, there’s a lot of regulatory compliance, operational elements and content marketing when launching new products/integrations.

Although DriveWealth is an SEC registered Broker, it’s important to ensure Revolut meets UK/EU regulations, particularly MiFID II.

On the operational side, we’ve gone through similar with our own partners - selecting the right execution order types/durations, security around the APIs (as the join between applications is the least secure), managing trading volume liquidity parametres - and plenty more!

Making a trading app simple is a complex process :wink:

2 Likes

I read this morning that they’re only providing access to 300 stocks at this stage too. I know their partner Drivewealth provides access to over 3,000 stocks so will be interesting to see how quickly they add to this list.

2 Likes

Evarvest are utilising Tercero/Third Fin, right? I think that was public domain from your crowd raise if I recall correctly. How deeply are you guys integrating with them? Being pan-European I’d assume it’s more efficient to let them take the actual custody/settlement rather than manage an array of world of Central Securities Depositories directly? But long-term would it be Evarvests intention to build your own back office/trading platform to reduce the risk of being squeezed or constrained by your supplier?

What’s your solution when it comes to fractional US (all exchanges - but US mostly)? Will you be looking at DriveWealth?

2 Likes

Hi @DataNerd, I think you might be thinking of another campaign page, :wink: we haven’t shared our partners on our crowdfund with the exception of two we did joint press releases with.

All our agreements with our partners contain a confidentiality agreement and we respect our partners right to privacy. In light of this, I hope you can understand why we can’t share their details or the details of our partnership. With any partnerships, it’s always good to have contingencies in place. :ok_hand:

What I can share is fractional is on our roadmap and we’ll share more details when we’re closer to launching this, we have to keep some surprises :wink:

3 Likes