When deciding between Revolut and Finom, it’s important to evaluate which features best align with your financial needs.
This comparison will highlight key differences, from mobile banking capabilities to specific benefits, helping you make an informed choice.
Revolut
Finom
How do Revolut and Finom compare?
Revolut, founded in 2015 in the UK, started as a digital challenger bank focused on foreign exchange and quickly expanded to offer a broad range of services. It targets both individual consumers and businesses, offering personal accounts, stock trading, cryptocurrency, and international payment solutions.
Revolut’s business offering includes multi-currency accounts, expense management, invoicing, and team cards, making it a solid choice for small to medium-sized enterprises (SMEs) and freelancers. With a presence in over 35 countries, Revolut is a global player catering to both personal and business banking needs.
In contrast, Finom, launched in 2019, specializes in providing digital banking services to freelancers, small businesses, and entrepreneurs. It focuses on automating financial processes, such as invoicing, expense categorization, and tax reporting.
Finom offers multi-currency accounts and integrates with accounting tools like Xero and QuickBooks, streamlining the financial management of small businesses. It’s primarily available in Europe, with plans for expansion, but its services are tailored more toward businesses looking for a simple, automated banking experience that helps manage their operations efficiently.
While both platforms provide digital banking services, Revolut offers a broader range of features, including investment tools and extensive international services, making it ideal for users who need global financial solutions. Finom, on the other hand, stands out for its focus on the specific needs of freelancers and small businesses, offering features designed to simplify accounting and payments within Europe.
Revolut is better suited for users seeking a versatile banking experience with international reach, while Finom excels in providing localized, business-oriented banking services in Europe.
Founded: 2015
Headquarters: London, UK
Users: +45 million
Countries available: 35
Account plans: 5 plan options
Go to Revolut
Founded: 2019
Headquarters: Amsterdam, Netherlands
Users: +100,000 thousand
Countries available: 10
Account plans: 7 plan options
Go to Finom
Other comparisons about Revolut and Finom
Why use a digital bank?
Affordable fees and attractive pricing
With their digital-first approach and reduced operating costs, neobanks often offer highly competitive fees compared to traditional banks. Many neobanks minimize or eliminate fees for services like account maintenance and transactions, and some even provide enhanced interest rates on savings and loans. This cost-efficiency appeals to individuals and businesses focused on maximizing financial value without the typical expenses of traditional banking.
Quick account setup and hassle-free onboarding
Opening an account with a traditional bank is often a slow, paperwork-heavy process. Neobanks streamline this experience by using technology to offer a quick, fully online onboarding. Some even provide instant approval, allowing users to start banking within minutes. This efficiency and ease make neobanks an attractive option for people who want fast, paperless access to financial services.
Intuitive design for easy navigation
Neobanks offer highly accessible, user-friendly mobile apps designed for a smooth, modern banking experience. Unlike traditional banks, which rely on complex processes and paperwork, neobanks provide a streamlined interface where users can manage finances, track transactions in real-time, and set up alerts with ease. This straightforward, app-based experience appeals to tech-savvy users and businesses alike, offering a practical solution for efficient financial management.
Advanced budgeting and financial tracking tools
Neobanks often come equipped with advanced financial tools built right into their apps, giving users insights into spending patterns, budgeting help, and real-time transaction categorization. For businesses, this translates into improved financial control and clear visibility over cash flow. With features like expense tracking and financial analysis, neobanks empower individuals and businesses to make informed, data-driven financial decisions, setting them apart with their strong focus on financial management.
Responsive support and community involvement
Neobanks focus on customer satisfaction with quick, accessible support through multiple channels like in-app chat, email, and even social media. Traditional banks can sometimes have slower, more bureaucratic service, but neobanks use technology to deliver faster, more tailored responses. Many also build a sense of community through online forums and events where users can exchange tips and insights, fostering a collaborative approach to banking.