Revolut, which now has more than 50 million customers worldwide, including more than 4 million in France, is unveiling new features designed to further protect the funds of its individual users.
In response to alarming statistics – 600,000 phones stolen in France in 2024 according to the National Crime Observatory, and a 38% increase in phishing victims in 2023 according to Cybermalveillance.gouv.fr – Revolut is implementing tools to effectively secure mobile bank accounts.
Three new features
The first feature, called "Lost Device" allows users to quickly report a lost or stolen phone via a dedicated webpage or directly from the app on another device. After identity verification, customers can immediately lock the app on their lost device and associated cards, while being prompted to change their access code.
To counter certain sophisticated attacks, Revolut is also introducing the "Login from a second device" feature. This immediately alerts customers when an attempt is made to access their account from an unknown device. Biometric authentication is then required to restrict this suspicious access and further secure the account.
Finally, Revolut announces the upcoming launch of "Transaction Limits", a preventative measure allowing users to set personalized daily limits on their card payments and bank transfers. Any exceeding this limit will require additional biometric validation, thus preventing potential criminals from quickly emptying a compromised account.
Woody Malouf, Managing Director in charge of Revolut's Financial Crime Prevention Officer, said: "By rolling out these new features, we are able to further protect our customers' money from unscrupulous criminals. These improvements complement our recent innovations such as integrated calls to prevent scams. identity theft, Investment Protection with enhanced biometric authentication, and the integration of artificial intelligence to detect card fraud.»
These new measures are part of a global strategy to constantly strengthen users' financial security. In 2023 alone, Revolut prevented more than €550 million in potential fraud against its customers. With a team dedicated to fighting crime With a financial company now representing more than a third of its global workforce (more than 10,000 employees), Revolut continues to invest heavily in prevention and digital security.
The fintech promises even more innovations to come to ensure its customers optimal protection in an increasingly complex digital environment.
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