Let me set the record straight
blog.revolut.com
blog.revolut.com
Let’s see if the PR damage people delete it.
VCs should observe this kind of behavior as a serious risk to company morale and productivity. In the modern age of social activists, we really can’t have another Larry Ollisen escape through extortion of their employees. This issue needs to be exposed and put up as an example: your company’s most important asset are the people. Treat them professionally and with respect or you’re doomed to die. We are neither in a 80’s regimented business era nor this is a military organization.
There are times when social media does good - exposing deep habitual issues of extortion and exploitation. I don’t know how many other startups have this kind of toxic environment. It’s legal but shouldn’t be ok and should be met with the decline and demise of the company.
Disclaimer: I invested a small amount in their last crowdfunding round
Leaders who recognize this have a significant long-term advantage. Your people basically represent the marginal value of your business.
https://www.wired.co.uk/article/revolut-trade-unions-labour-...
CEO Nikolay Storonsky gave an interview to Business Insider where he said Revolut’s philosophy was to “get shit done”, a slogan that is emblazoned on the company's London office walls in bright neon lights. In an echo to what was going on in these calls, Storonsky would go on to say in the interview that the company attracted people that want to grow and “growing is always through pain”.
Sources say at least one former head of HR resigned after failing to convince Storonsky that the company had to change its dogmatic approach to performance targets. In the last two years a total of three different people have headed the HR department, the last one leaving two months before Revolut's use of the controversial home task was revealed. At the time of writing, Revolut has more than 200 vacancies listed on its website.
Oh gross.
If the person opening the account is physically standing in the bank lobby, showing ID is strong evidence they are who they say they are.
But accepting a scanned copy of an ID online is in many ways more risky than alternative verification methods, it only tells you that the person had access to a picture of an ID. It's assumed that would be difficult if they weren't who they say they are, but that's not a reasonable assumption and banks clearly know that.
I wouldn't be surprised if identity thieves have access to real scans of IDs at this point. A lot of online services have been asking people to scan and upload them for things like "verifying" your Twitter or Facebook account, so people may not be as cautious about doing that as they should be.
For a concrete example, I opened a savings account with Capital One 360 about a year ago. I did it at home from the comfort of my computer and it took me just a few minutes.
I'm not sure how efficient it is, but it's not as bad as your parent implies. It was about the same procedure as for N26. Orange Bank on the other hand just asks for scans.
Disclaimer: I work for the company that provides this service to revolut.
Side note: It's actually surprisingly difficult to verify that a document isn't fraudulent, and traditional in-person banks that accept documents in person are more susceptible to fraud than you might think. Is the average account exec trained as a border control agent? Do they read the MRZ lines?
Keine Bonitätsprüfung, kein Adressnachweis.
Seems promising for an online only bank.
It's like saying that I'll be honest with you, and continue lying.