REVOLUT, a global financial technology (fintech) company, is launching a technology hub in the Philippines to tap into the country’s skilled workforce and support its expansion across Southeast Asia.
The hub, located in Manila, will function as a global capability center, it said in a statement on Wednesday.
The Manila hub will work with Revolut’s teams in the UK, Europe, Asia-Pacific, and the Americas, it said.
Revolut’s latest expansion is expected to generate hundreds of jobs in the Philippines, which will follow a fully remote arrangement, according to the company.
“This investment reflects our long-term commitment to the Philippines and our confidence in its growth potential,” said Raymond Ng, chief executive officer for Southeast Asia at Revolut.
“The new hub will play a vital role in scaling our global capabilities while creating high-value jobs and driving digital upskilling locally,” he added.
Launched in 2015, Revolut is an all-in-one finance app offering key services such as mobile banking, card payments, money remittance, foreign exchange, and investments.
The Philippine expansion will serve as Revolut’s second hub in Asia, following the launch of its first hub in India in 2021.
The fintech company noted that both countries offer a highly skilled talent pool across product development, financial crime prevention, and customer support.
It also cited the Philippines’ digital readiness, as well as the government’s strong push for innovation, as key opportunities for its expansion plans.
Revolut’s latest expansion also signals investor confidence in the Philippines as a rising destination for global fintech and innovation, said Finance Secretary Ralph G. Recto.
“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,” Mr. Recto said.
Revolut said it serves more than 60 million customers in over 160 countries, generating over half a billion transactions monthly. — Beatriz Marie D. Cruz
