However, none of the 10 largest UK banks supported subscription management features as of June 1, and only Lloyds has it since. This combination of high value to consumers and rarity could make Subscriptions a powerful customer acquisition and retention tool for Revolut, helping it lure customers away from major UK incumbents that don't offer the feature.
Perhaps more importantly, Subscriptions could help make Revolut a bigger and less expendable part of its customers' financial lives. A major caveat of Subscriptions is that it only offers insight into recurring payments customer make with their Revolut cards. This means that in order to take full advantage of the feature, customers will have to shift spending on subscriptions to streaming services, Amazon Prime, and the like over to their Revolut card. The cumulative effect is that Subscriptions could help Revolut push toward primary account status as customers increasingly integrate their financial lives with Revolut.
And the current rarity of the feature means customers who come to depend on the Subscription tool's money management benefits will be unlikely to switch banks, even given the in the UK of the Current Account Switching Service, which makes it easy for consumers to transfer accounts and recurring payments between banks.Join other Insider Intelligence clients who receive this Briefing, along with other Banking forecasts, briefings, charts, and research reports to their inboxes each day.
Wir haben diese Nachrichten zusammengefasst, damit Sie sie schnell lesen können. Wenn Sie sich für die Nachrichten interessieren, können Sie den vollständigen Text hier lesen. Weiterlesen:
Deutschland Neuesten Nachrichten, Deutschland Schlagzeilen
Similar News:Sie können auch ähnliche Nachrichten wie diese lesen, die wir aus anderen Nachrichtenquellen gesammelt haben.
Levi's opening NextGen stores with 'Tailor Shops.' Take a look inside. - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Still gotta go inside....
Herkunft: BusinessInsider - 🏆 729. / 51 Weiterlesen »
How technology is disrupting the management-consulting industry - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Herkunft: BusinessInsider - 🏆 729. / 51 Weiterlesen »
Amazon's new grocery delivery feature reserves a virtual place in line - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. 🔥 Check It Out 🔥 Great idea!
Herkunft: BusinessInsider - 🏆 729. / 51 Weiterlesen »
Insider Cannabis newsletter: October 9 - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Herkunft: BusinessInsider - 🏆 729. / 51 Weiterlesen »
Latinx leaders championing diversity and driving change in business - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Latinx isn't a word Wisdom is the glue that holds communities together. When we teach wisdom to kids grades 5-12 we insure their future and the norms of the community. Latinx is bullshit it doesn't exist, its Latinos
Herkunft: BusinessInsider - 🏆 729. / 51 Weiterlesen »
The coronavirus pandemic is the best thing that has ever happened to Tesla's business - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Maybe Fed Is best thing for Tesla & Co
Herkunft: BusinessInsider - 🏆 729. / 51 Weiterlesen »