Is this the future of mobile banking?
is a bank offering several extra services without fees. These include features such as sending money globally, converting currencies on the fly and keeping track of users’ spending habits. It also supports separate accounts for different currencies including cryptocurrencies, all in the same app. They also offer a credit card free of charge.
With a very high Trustpilot rating of 4,5 out of 5, Revolut is doing something that is working unusually well. To assess exactly what that is, we grabbed a sample of 3 538 reviews from Trustpilot and ran them through Gavagais AI. What follows is a study in what makes users give Revolut great reviews.
Here are 4 things we found out!
The use of the Topic “card” drives a review’s grade in a positive direction, which implies that it is mentioned in the most positive reviews. In connection to “card”, the Topic “ free” is used more frequently than average, implying that it is important that the card is free.
The use of the Topic “exchange rate” has a higher prevalence in positive reviews. It implies that the service’s exchange rate is satisfactory to users.
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As with the above, the Topic “app” drives review grades up. It is also frequently used in combination with the Topic “card”.
The Topic “customer service” is used in 20 % of the reviews and correlates with an average grade improvement of 0,02 out of 5. Considering the frequency with which it is mentioned, “customer service” drives the average grade in a positive direction.
What can we tell from this?
The analysis results from Gavagai Explorer indicate that the service provided by Revolut is successful and well-liked. To rival Revolut a company could try to offer similar features, such as a free credit card and competitive exchange rates. It also seems to show the importance of an application that has similar features to an actual bank. The data also points to Revolut having solid customer service, which likely contributes to their already high grade.
Based on the analysis, the most important aspects of the service Revolut offers is the phone application and the card. It might point to a synergy between the two that most banks don’t offer.
Want to try this kind of analysis on your own data?
Gavagai Explorer is free to try (no credit card needed) and works in 46 languages.
Gavagai is a Swedish language-tech company using advanced AI to help businesses analyze text and feedback – so they can understand their customers better. Spun off from the Swedish Institute of Computer Science, our Word Space Technology has grown and improved over 20 years, and our research team has published more than 400 academic papers.