Revolut aims to expand its suite of technology products and, over the long term, grow to be as large as the biggest U.S. tech companies, CEO Nik Storonsky said Friday (Oct. 9), according to a Reuters report.

Complete the form to unlock this article and enjoy unlimited free access to all PYMNTS content — no additional logins required.

Speaking at the Wave by Vento event in Turin, Italy, Storonsky said Revolut uses techniques similar to those used for large language models to build its own proprietary models trained on customer transaction data, according to the report.

“With 30 to 40 million transactions taking place every day on Revolut, we have a unique dataset to build on,” Storonsky said, per the report.

Please add us to your preferred sources list so our news, data and interviews show up in your feed. Thanks!

Revolut was valued at $115 billion in a secondary share sale this year. The company is Europe’s most valuable startup and is privately valued at more than Barclays or Societe Generale, according to the report.

PYMNTS reported in April that Revolut trained a proprietary AI model called PRAGMA on 40 billion transactions, app interactions and financial events drawn from 25 million users across 111 countries. The model makes decisions about things like who’s likely to commit fraud, who’s a credit risk and which customers are about to leave.

Storonsky told Bloomberg TV Thursday (Oct. 8) that if Revolut pursues an initial public offering , he wants the primary listing to be in the United States.

Source link