Neobank Revolut is taking proactive steps to enhance financial literacy among its users by launching an in-app educational module focused on stock market basics. This initiative, introduced eight months after Revolut launched stock trading for Singaporean users, aims to empower individuals with the knowledge and understanding needed to make informed investment decisions.
The newly introduced educational module covers fundamental concepts related to the stock market, including ownership dynamics, risk assessment, and the various participants involved in the financial markets. To reinforce users’ comprehension, each lesson concludes with a brief quiz designed to test their grasp of the material. By gamifying the learning experience, Revolut seeks to make financial education engaging and accessible.
Revolut users will also have access to articles authored by research and investment professionals, offering additional insights and perspectives on stock market dynamics. This approach aligns with Revolut’s commitment to providing comprehensive financial education within its platform.
Revolut originally launched similar educational courses for cryptocurrency in June 2022, resulting in over 3.8 million users in Singapore, Australia, the UK, and the European Economic Area completing at least one lesson. Recognizing the importance of demystifying financial markets, Revolut now extends its educational offerings to stock market enthusiasts.
Revolut’s foray into stock trading began in 2019, initially catering to European customers before expanding its services to Australia, the US, and Singapore. Through the Revolut app, users can conveniently trade stocks and exchange-traded funds (ETFs) listed on the Nasdaq and the New York Stock Exchange (NYSE). The bank charges a commission of 99 US cents ($1.36) per order, making stock trading accessible to a broad audience.
Looking ahead, Revolut Singapore has ambitious plans for its trading services, including the introduction of a “recurring buy” feature for stocks and ETF trading in the coming weeks. With fractional trading already available, this feature allows users to schedule automatic purchases, streamlining their investment strategies.
Deepak Khanna, Head of Wealth and Trading at Revolut Singapore, shared the bank’s strategic vision. He stated, “We decided to launch access to the US market first, enabling investors to leverage its extensive market size, liquidity, diverse investment options, and the ability to invest in fractional shares.” Mr. Khanna, who joined Revolut in December 2022 from HSBC, highlighted the attractiveness of the Singapore market, emphasizing the country’s robust corporate profiles, consistent dividend history, and promising real estate sector.
Revolut’s journey in Singapore has been marked by regulatory milestones, including obtaining a Major Payments Institution license, a Capital Markets Services license from the Monetary Authority of Singapore, and in-principle approval to offer cryptocurrency-related services under the Payment Services Act. As Revolut continues its mission to empower users with financial knowledge, it aims to expand its offerings to encompass Singaporean and other Asian stock exchanges, along with a broader range of investment products.
