Revolut Ltd (Revolut Ltd)

Lobbying Organisation Revolut Ltd

Date published 24 Feb, 2024

Relevant Matter Public policy or programme

Public Policy Area Finance

Period 1 Sep, 2023 to 31 Dec, 2023

Specific Details Briefing on Revolut's growth in Ireland (2m+ retail accounts). Revolut’s investment in anti-fraud processes; the need for urgent measures to stop fraud at source, as most originates from fake phone calls, fake texts and fake websites. Revolut credit (e.g. responsible Pay Later) and other key products like Revolut Pay, Revolut car insurance, etc; long-term ambition to broaden lending and trading offerings. EU policy debates impacting fintechs.

Intended results Support for Revolut’s continued growth and expansion in Ireland and for key measures to support fintechs, including heightened national/EU-level fraud responses (in particular, requiring telecoms and tech firms to stop at source the fake texts, calls and websites which enable fraud, and to be held liable for frauds enabled by fake texts, calls or websites); for more action to remove IBAN discrimination at EU level; and more action to accelerate Open Finance in the EU.

Name of person primarily responsible for lobbying on this activity Adam Gagen

Did any Designated Public Official(DPO) or former Designated Public Official(DPO) carry out lobbying activities on your behalf in relation to this return? You must include yourself, and answer Yes, if you are a current DPO or a DPO at any time in the past. (What is a Designated Public Official?) No

Did you manage or direct a grassroots campaign? No

Was this lobbying done on behalf of a client? No

Lobbying activity

The following activities occurred for this specific Subject Matter Area.

Meeting (1)

Meeting at EU conference, with discussion focused on support for Revolut’s continued growth and expansion in Ireland and for key measures to support fintechs, including heightened national/EU-level fraud responses (in particular, requiring telecoms and tech firms to stop at source the fake texts, calls and websites which enable fraud); for more action to remove IBAN discrimination at EU level; and more action to accelerate Open Finance in the EU.

Designated public officials lobbied

The following DPOs were lobbied during this return period on this specific Subject Matter Area. These DPOs were involved in at least one of the Lobbying Activities listed above, but not necessarily all of them. As returns are specific to a Subject Matter Area the above Lobbying Activities may be associated with multiple returns.

Michael J. McGrath Assistant Secretary (Department of Finance)