In an important project for the Romanian banking market, Băncilă, Diaconu si Asociatii SPRL and EY Romania assisted Revolut Bank in the process of launching its first lending product. Revolut, the super financial application that offers banking services to over 2 million customers in Romania, can grant, from August 2022, unsecured personal loans, for a maximum amount of 125,000 lei, in just a few minutes.
The financial application has been updated accordingly to the relevant legal regulations to allow in an extremely easy and fast way to go through all the stages of the credit process (e.g. submitting the application, signing the credit agreement with the help of a qualified electronic signature, changing the date of repayment, making early repayments).
Băncilă, Diaconu and Asociații team was coordinated by Radu Diaconu (Coordinating Partner) and Gabriela Neagu (Managing Associate). Also, the consulting practice of EY Romania was involved in this project through Carmen Adamescu (Partner) and Bogdan Picerea (Manager).
"Entering the credit market is a natural step for Revolut in order to strengthen its position as a banking institution on the Romanian market. We are extremely happy and honored by the fact that we could be involved in this important project both for our client and for the financial system in Romania", said Gabriela Neagu.
"Since August 2022, the consumer credit, a responsible product offered by Revolut Bank, has become available for Romanian customers, who thus joined those from Lithuania, Poland and Ireland. Our objective remains to provide our customers with simple banking services, easy to use and understand, with transparent and competitive costs. We thank our partners who contributed to making this product available to our customers, and we are grateful to Revolut customers for their trust, materialized by the high interest shown in this product, since the first days after its launch on the local market", said Gabriela Simion, General Manager of the Revolut Romania subsidiary and Head of Lending.
Revolut is building the world’s first truly global financial superapp to help people get more from their money. In 2015, Revolut launched in the UK offering money transfer and exchange. Today, more than 20 million customers around the world use dozens of Revolut’s innovative products to make more than 250 million transactions a month.
Across our personal and business accounts, we help customers improve their financial health, give them more control, and connect people seamlessly across the world.