In just 5 years Revolut have gone from an interesting fintech startup to the ‘one app for all things money’ used by millions, with a valuation of billions to match. Part of their success lies in their app’s industry-leading user experience, enabling customers to manage their finances in just a few clicks without any friction. This includes their Wealth products, which let customers easily invest in stocks, crypto, and commodities from within the app.
To provide the best possible investment experience, Revolut identified a need to empower their customers to make informed investment decisions by providing easy access to a real-time stream of news stories and events that might impact a customer’s investment portfolio.
News is essential to trading, providing crucial signals that influence investment decisions. News moves quickly, however, and investors who find out important news first have a considerable advantage over those slower to the source. Being able to uncover the news that matters when it matters, therefore, gives traders the edge in financial markets. Unfortunately, the scale of global daily news makes it extremely difficult to identify high-impact news amongst the overwhelming noise.
Revolut wanted to find a way to deliver relevant high impact news to their customers about any specific trading company through the app in real time, based on their customers’ portfolio preferences. Not only would it provide a great user experience for investors, but as a result it would keep them engaged within the app, increasing the chances of them trading through Revolut.
We really enjoyed developing the News feature with Quantexa. The Quantexa team were flexible in designing bespoke solutions and provided access to a vast universe of News content. I’m happy to say the integration has remained robust and stable.
Harjas AhujaProduct owner, Revolut
Following a thorough evaluation and testing period, Quantexa’s News API was chosen by the Revolut team to deliver access to high-impact news to where customers need it in real time. Quantexa News API achieves this by aggregating over a million news articles from more than 80,000 sources every day. Each article passes through Natural Language Processing (NLP) models, providing the structured data that organizations need to quickly access and easily find relevant news, which they can deliver to wherever it will have the most impact for their customers.
Revolut understand the importance of news to their customers, and so they developed a standalone News section for their app. News lives in their Wealth feature, where the News API delivers the latest high-impact articles to the relevant sections, such as Top Stories, Stock, Crypto, or Commodities. News events and stories are also delivered to individual stock pages, e.g. Tesla. Each profile has its own News tab, providing specific news for that particular company and its related market. The accompanying screenshots show Quantexa News API-sourced articles within the Revolut app.
Since Revolut have implemented Quantexa’s News API into their Wealth product, Revolut Trading have seen an increase of 75% month over month (MoM) in users interacting with the global market news feature. They’ve also seen an increase of 45% MoM in users interacting with the single stock news feature. This level of increase in engagement is a huge benefit to the Revolut Trading team.
Why Quantexa News Intelligence?
Revolut chose Quantexa for our unrivalled News API capabilities, which provide reliable access to high-quality news that can be easily delivered to where they need it in real time. It was a new approach compared to other vendors that they looked at. They recognized Quantexa as a technologically advanced news provider with a customizable offering that can accompany Revolut on their exciting growth journey. Quantexa were able to work closely with Revolut to ensure that they got full value from our service. Working together we ensured that sources monitored are always high quality and relevant, and Revolut could take full advantage of Quantexa’s NLP expertise to deliver the news that matters.