How AI is Helping an Online Bank Cut Recruitment Time and Scale Up
Revolut, an online bank founded in the UK in 2015, has grown its customer base to over 50 million globally. Now, it aims to double that number and expand into 100 markets. A key part of this growth strategy involves using artificial intelligence (AI) to streamline people management and recruitment processes.
Scaling People Management with AI
Matt Baxby, Revolut’s CEO for Australia and New Zealand, explains that when a company goes global, scaling the people function becomes critical. “AI is pivotal because it creates everything we need and puts it all in one place for everyone to use. It’s about transparency,” he says.
Revolut developed an internal platform called Revolut People that integrates hiring, recruitment, and performance management. This tool uses AI to screen resumes and monitor performance metrics, making it easier to track where employees stand and how they contribute to business growth. Having all these resources centralized means the process can be scaled consistently across the company.
Transparency Drives Engagement and Accountability
Scaling a business depends on engagement at every level, and transparency is central to that. Baxby highlights the importance of a “bias to action” mindset combined with organizational transparency. This approach removes silos, increases accountability, and speeds up execution.
Recruitment is a key area where transparency and structure matter. AI supports this by ensuring every candidate aligns with the role requirements and company goals. This clarity helps new hires understand where the business is headed and how they fit into its mission.
Leveraging AI to Meet Ambitious Growth Targets
Revolut aims to grow from 55 million customers in 40 markets to 100 million customers in 100 markets. Baxby attributes part of their 35% year-on-year growth to how data and AI are embedded in performance and recruitment processes.
By consolidating key metrics in one system that contextualizes data, employees and managers get a clear picture of current performance and what needs improvement. This unified environment makes business goals and KPIs visible and actionable, allowing the company to scale efficiently.
Addressing AI Adoption Challenges in Banking
Research from V2 Digital shows that less than 9% of banking organizations consider themselves mature in AI adoption. Steve Tzortzidis, director of Data and AI at V2 Digital, stresses the need for foundational data maturity and governance to use AI effectively.
Baxby believes many companies lag because they hesitate to adopt AI in recruitment. He emphasizes that having a system that speeds up candidate screening frees recruiters to focus on cultural fit and human elements, which AI can’t fully assess.
Soft Skills and AI: A Winning Combination
A LinkedIn Learning report highlights that investing in people’s growth and soft skills is now a strategic necessity. Skills like problem-solving enable employees to work alongside AI effectively. Baxby sums it up well: “People coupled with AI is the perfect recipe.”
Revolut People also automates note-taking during interviews and shares these notes across the hiring team, saving time and standardizing the recruitment process globally.
Final Thoughts for HR Professionals
Revolut’s experience shows that integrating AI into HR processes can dramatically reduce recruitment time, improve transparency, and support rapid scaling. For HR professionals looking to modernize their recruitment and performance management, investing in AI tools that centralize data and automate routine tasks is a practical step forward.
To explore how AI can help transform your HR functions, check out Complete AI Training’s latest AI courses focused on automation and recruitment technologies.
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