Revolut tied employee bonuses to compliance performance
12 days ago
- #Performance
- #Fintech
- #Compliance
- Revolut uses a 'Karma' points system to score departments on compliance and risk management.
- Team Karma scores impact individual bonuses via a multiplier.
- The system has improved companywide compliance performance by 25% since 2020.
- Karma reinforces risk management as a 'shared responsibility' and tracks team performance.
- Revolut expanded the program in 2024 with six new data sources.
- The company reported £1.1 billion in pretax profit for 2024, up 149% from the previous year.
- Revolut now has over 52 million customers and is expanding into mortgages and lending.
- CEO Nikolay Storonsky advocates a hardline approach to performance, suggesting underperformers should improve or leave within six weeks.