Google Cloud Results
Enables 150 million customer transactions every month
• Empowers millions of people in dozens of countries to access financial
• Enabled teams from 26 regions to successfully collaborate and speed up product development
• Achieved ambitious goal of delivering Payday product in just 6 months
Today, hundreds of millions of adults globally remain unbanked, without access to a checking or savings account. Financial exclusion reduces people’s quality of life and holds back entire economies. Innovative fintech company Revolut is changing that and has an ambitious goal: to become the world’s first truly global super app and provide access to financial services to everyone.
Headquartered in London, with employees and customers across the world, Revolut continually expands its product and service portfolio to fulfill its mission to empower more people to achieve their financial goals. Only six years after its founding, and valued at $33 billion after a recent fundraising round, Revolut is growing dramatically, expanding into new markets and developing innovative new products. Google Workspace provides a simple, helpful, and flexible way for teams across multiple countries and time zones to collaborate in real time.
The era of brick-and-mortar banking is giving way to new financial options. With Revolut, it’s now possible to open a free online account in minutes, spend securely, send money globally, go from cash to crypto, and more, all from a mobile app.
Recently, Revolut launched its new Payday product, designed to give people greater financial control by allowing them to access their wages instantly, as they earn them, and pay for unexpected expenses or monthly bills. From product conception through to development and launch, Google Workspace enabled effective collaboration and communication across departments and regions to meet an ambitious timeline of delivering the product to market in only 6 months.
Developing a new product strategy
“In my job, I couldn’t live without Google Meet. The ability to hop on a call at any time from my desktop or phone with my colleagues in different countries and time zones around the world is key to making sure we’re all aligned as we bring new products to market.” - Sophie Taylor, Product Marketing Manager, Revolut
According to Sophie Taylor, Product Marketing Manager at Revolut, the development of the Payday product began with research and analysis. The team collected qualitative and quantitative customer insights data from its databases, gathered market research using Google Forms and Google Sheets, and worked simultaneously in Google Slides to quickly create stakeholder presentations.
Before the product got the go-ahead for development, the team also had to present a business case. The team collaborated in Google Sheets to create financial models, as well as forecasts to assess the market size, competitor analysis, target markets, anticipated costs, and projected revenues.
Next, the team developed its go-to-market strategies in real-time using Google Docs. The ability to use Google Drive across regions to easily access and collaborate on slides, documents, and more was invaluable for developing the product strategy for Payday. “One of the biggest benefits of Google Workspace is working seamlessly across 26 regions,” Taylor says.
An integrated workspace and easy-to-use collaboration and communication tools pay off, especially when working with different teams. “In my job, I couldn’t live without Google Meet,” Taylor says. “The ability to hop on a call at any time from my desktop or phone with my colleagues in different countries and time zones around the world is key to making sure we’re all aligned as we bring new products to market.”
According to Emil Urmanshin, Operating Partner, CEO Office at Revolut, before Payday development began, the company created a detailed technical roadmap in Google Sheets, covering six months of development work. “We reached a very high level of planning precision,” Urmanshin says. “From the beginning, we knew which developers would work on each feature and when. Working together in Google Sheets was very important because we had an instant feedback loop for the whole team.”
Building a winning engineering team
“Without Google Workspace, we couldn’t have achieved our grand vision to deliver the Payday app in such a short amount of time.” - Boon Pek, Senior Software Engineer, Revolut
As a Senior Software Engineer at Revolut, Boon Pek loves making an impact on millions of people’s lives by developing products that help them budget or invest their finances better. As an engineer and team leader, Boon encountered a new challenge when his team grew from two to 13 members. Although he prefers in-person communication, Google Meet, Docs and Slides enabled him to onboard and share knowledge with the whole team quickly, even when working remotely.
According to Urmanshin, the company needed to attract skilled engineers for the Payday team to speed up product development. “It’s much easier when you can hire people from across the globe,” Urmanshin says. “Google Workspace and broad global knowledge of Google products helps to decrease onboarding time. Even though our team is spread across five countries, we all work together seamlessly because we use Google Workspace tools. Google Workspace helps us get products to market much faster.”
Enabling engineering efficiency
“I’m used to working face-to-face, and I always thought that engineering efficiency would be reduced if you can’t meet in person. But Google Meet and Jamboard changed my perception.” - Boon Pek, Senior Software Engineer, Revolut
As development on Payday got underway, Boon ensured his team stayed organized, focused, and aligned with Google Workspace. “The whole idea behind the algorithm of this product was based on Google Sheets, which blows my mind,” Boon says. “After we had the model and knew how it would work, we began designing the whole application.”
To ensure the product launched on schedule, the team brainstormed using Google Docs, broke down the requirements and conducted capacity planning in Google Sheets, and created presentations in Google Slides to align everyone from Engineering to Operations and Sales. Google Meet and Jamboard enabled collaboration across teams in more than two dozen locations.
“I’m used to working face-to-face, and I always thought that engineering efficiency would be reduced if you can’t meet in person,” Boon says. “But Google Meet and Jamboard changed my perception.”
Moving forward, Revolut plans to continue its rapid growth and fulfill its mission to be a global super app with access for all. For Boon, improving financial health for everyone is where his passion lies, and he’s proud of Revolut for developing Payday, from idea to launch, in just 6 months, supported by Google Workspace. “Without Google Workspace, we couldn’t have achieved our grand vision to deliver the Payday product in such a short amount of time,” Boon says.
*Google Workspace was formerly known as G Suite prior to Oct. 6, 2020.