The article examines the challenges faced by crypto neobanks, drawing parallels with traditional neobanks. It highlights their reliance on interchange fees and lack of interest income, suggesting that to survive, crypto neobanks should focus on embedded DeFi solutions instead of mimicking existing models.

Revolut reported a record pre-tax profit of $1.4 billion, more than doubling its earnings from the previous year, and announced it has started internal testing for mortgage services. The digital bank aims to launch mortgages in Lithuania, Ireland, and France within the year and plans to expand its retail credit offerings. With a growing customer base and significant revenue increases, Revolut is positioning itself to deepen customer relationships through a simplified mortgage application process.

Revolut achieved a remarkable financial performance in 2024, with a net profit of $1.0 billion and revenues soaring by 72% to $4.0 billion, marking its fourth consecutive year of profitability. The company's customer base grew by 38% to 52.5 million, driven by deeper engagement and a diverse product offering, positioning Revolut as Europe's most valuable private technology company.

The Global Fintech Report highlights the maturation of scaled fintechs, driven by improved profitability, new technologies like AI, and an evolving competitive landscape. It outlines key trends shaping the industry's future, including advancements in agentic AI, onchain finance, and the expansion of challenger banks, while urging stakeholders to focus on innovation and regulatory clarity to sustain growth.

UK fintech Monzo has achieved a significant milestone by surpassing £1bn in revenue for the first time, reporting £1.2bn in revenue and a profit of £60.5m for the last financial year. With a growing customer base of around 12 million and plans for expansion in Europe and the US, Monzo is also preparing for a potential IPO, currently valued at £4.5bn.