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“Yes, it is very difficult to access the local payment network [Multibanco, da SIBS]. We continue working to access it, “said Nikolay Storonsky in an interview with Lusa via telematics, when asked about access to the national interbank network.
The executive of the electronic financial services company added that “the talks have been going on for almost a year”, hoping to resolve the matter “soon”, since according to the official, the lack of access to the SIBS network puts Revolut “at a disadvantage compared to local banks “.
“Even without access to the local network, we are ‘fintech’ [empresa tecnológica financeira] number one in Portugal and we have more than 600 thousand clients there, which is [um número] pretty big, “added Nikolay Storonsky.
Revolut, which has a work center in Matosinhos, in the Porto district, “continues to hire as the business grows,” the head of the company told Lusa.
Asked about the prospects for this year after the losses of 118.2 million euros in 2019, the businessman was optimistic, even in a year marked by the covid-19 pandemic.
“We are much better compared to last year, in terms of revenue,” said ‘Nik’ Storonsky, noting that in November the company “made profit” on a “month to month” basis, being “much better in gross margins. “. .
The executive also criticized the perception that fintech companies are not regulated, since in his view “they know that they have to obey the same rules as banks” from the moment they have licenses.
On this issue, the businessman of Russian origin and British nationality revealed that Revolut’s Portuguese clients will continue, “for now”, under the banking authority of Lithuania, where the company is licensed to operate electronic money.
In addition to a license in the Baltic country, Revolut will have an Irish license – a jurisdiction to which some countries may migrate in the future, he said – and another in the United Kingdom, somewhat influenced by the British exit from the European Union (‘ Brexit ‘), a situation for which Storonsky assures that Revolut “is fully prepared” without affecting customers.
Nikolay Storonsky further stated that in 2021 “it is entirely feasible” that Revolut could allow its clients to “withdraw cryptocurrencies from their accounts.”
Lusa also questioned the executive about the company’s labor practices, given that during the year there were complaints of alleged irregularities, with an article in the online newspaper Observer exposed complaints from some former employees of the company, in Matosinhos, addressing, among others, situations of severe psychological distress.
Asked by Lusa on the subject, Nikolay Storonsky, who already recognized the need to improve the company’s labor practices, said that the objectives to be achieved by employees “are realistic and the absolute majority” of employees “are capable” of achieving them. .
The official acknowledged, however, that given the company’s need to move “faster than banks,” this could put “a little more pressure on people.”
Nikolay Storonsky also said that Revolut has never received any entity to inspect working conditions, and that the situations are investigated internally by the personnel department, which “takes action” if necessary.
“We get closer, we learn and we change,” ‘Nik’ Storonsky told Lusa, adding that “in a fast-growing environment, companies and people make mistakes, but as soon as they get feedback on mistakes, people change.” .
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