UK-based Revolut has picked the Philippines to host its second technology hub in Asia as the global fintech company seeks to support global capabilities.
Revolut said its Manila-based hub would allow it to access high-quality talent and improve operational scalability.
“This investment reflects our long-term commitment to the Philippines and our confidence in its growth potential,” said Raymond Ng, CEO for Revolut in Singapore & Southeast Asia.
“The new hub will play a vital role in scaling our global capabilities while creating high-value jobs and driving digital upskilling locally,” he said.
The firm said the tech hub would work closely with teams across the United Kingdom, Europe, Asia-Pacific and the Americas.
‘Hundreds of jobs’ to be created
The hub is expected to generate hundreds of jobs across the archipelago across key customer service functions, as well as provide advanced service support, in the near future.
The company executive said they view the Philippines as a “strategic market” for expanding its presence in Southeast Asia.
“We’re laying the foundation for sustained operations and expansion, supported by the Philippine government’s pro-innovation approach and its commitment to building a future-ready digital economy,” he said.
Revolut’s technology hub in the Philippines is its second in Asia following the first hub established in India in 2021. It has employed thousands of employees in India, supporting global operations.
‘Vote of confidence’
Finance Secretary Ralph Recto said Revolut’s tech hub was a resounding vote of confidence in the country as a rising destination for global fintech and innovation.
“This investment sends a clear message to the world that the Philippines offers the strategic blend of world-class talent, digital readiness, and policy support to lead the future of global fintech,” Recto said.
“This brings the UK’s leading fintech expertise to the Philippines, a country that offers highly skilled talent and strong digital capabilities. This investment reflects the strength of the UK-Philippines trade partnership and the region’s growing role in global financial innovation,” said Martin Kent, British Trade Commissioner for Asia Pacific.
To date, Revoult serves more than 60 million customers and facilitates more than half a billion transactions a month worldwide.
SOURCE: https://business.inquirer.net/534891/uk-based-fintech-revolut-picks-philippines-for-2nd-asian-hub
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