Malcolm Craig, who has a strong background in finance, took over from Maurice Murphy earlier this year.

Three-quarters of adults in Ireland now have a Revolut account, as the Irish branch reaches 3m customers.

The challenger bank also now has more than 429,000 users under the age of 18 and more than 27,500 businesses on its platform. It now has more than 50m customers worldwide.

The milestone was hit under the new leadership of Malcolm Craig, who took on the role of general manager earlier this year, succeeding Maurice Murphy.

Craig comes from a strong financial background, having worked in Bank of Ireland and Premium Credit as well as in PwC as a financial services consultant.

In his new role leading Revolut Ireland, Craig will define and execute local strategy for the fintech company and have the end-to-end responsibility for its profit and loss.

Meanwhile, Murphy, who first joined Revolut in 2021, will remain in his role as head of lending for Europe, where he will focus on growing the company’s lending business across Europe. He will also take up a seat on Revolut’s bank management board.

The challenger bank has had a strong year, particularly in the last few months. In April, the neobank announced plans to increase its global headcount by 40pc this year by creating new jobs in key markets that will help it compete with legacy banks.

After 2023 saw the company hit record profits, Revolut received a UK banking licence in July of this year and less than a month later, it became Europe’s most valuable start-up at $45bn.

The company has also been steadily rolling out new features, having launched a new BillPay tool for businesses in September and a new point-of-sale device in October.

The fintech has also teased a new mortgage product for Ireland, which may be available as early as 2025.

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