{
  "id": 1667180,
  "title": "Revolut sets sights on Australia’s cut-throat mortgage market",
  "url": "https://urgent.news/2026/08/18/revolut-sets-sights-on-australias-cut-throat-mortgage-market",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-08-18T07:41:25.000Z",
  "source": {
    "name": "The Business Times - Companies & Markets",
    "slug": "the-business-times-companies-markets",
    "url": "https://www.businesstimes.com.sg/companies-markets/banking-finance/revolut-sets-sights-australias-cut-throat-mortgage-market"
  },
  "original_language": "en",
  "account": "European fintech Revolut is considering a move into Australia’s highly competitive mortgage market, aiming to win customers from the \"Big Four\" retail banks that monopolize the sector. The four major lenders control over 70 percent of the banking market, including mortgages and deposits, while Macquarie has aggressively entered the home lending sector, now ranking fifth. Revolut's chief executive Matt Baxby stated that the mortgage market presents a significant opportunity in Australia, where the fintech company has already amassed 1.2 million customers before obtaining its banking licence. Revolut operates a subscription-based model, offering four pricing tiers with benefits such as lower fees and higher savings rates. UBS banking analyst John Storey believes Revolut's deposit-led model, coupled with its technology and product breadth, makes it a credible challenger. Revolut Australia reported A$70.8 million in revenue for 2025, a 74 percent year-on-year increase, and a net profit of A$7.4 million. Despite the challenges, Baxby remains optimistic about Revolut's prospects, noting that the company is already profitable in Australia and leveraging other revenue sources such as foreign currency transactions and interchange fees.",
  "summary": "Fintech wins Australian banking licence in July, its first in Asia-Pacific; it has launched savings accounts and credit cards",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}