Revolut is hiring several specialist roles across South Africa as the international banking giant prepares to launch in the nation officially.
Revolut formally applied for a South African banking licence in late 2025, marking its first move into Africa as a digital bank.
The bank submitted its Section 12 application to the Prudential Authority in mid-November, confirming its plan to establish a fully fledged bank in the country.
Revolut has seen massive growth since its founding in 2015, with over 65 million customers worldwide, including 12 million in the UK.
CEO and co-founder Nik Storonsky said the bank plans to reach 100 million customers by mid-2027 and expand into more than 30 new markets by 2030, adding to the nearly 50 markets it’s already in.
Given its expansion plans in South Africa, the bank has several roles available for South African workers, all of which are remote.
The 16 roles available for South African workers specifically include roles in risk, compliance, finance, treasury, data, operations, as well as two global remote roles available for South African workers:
- Risk & Compliance:
- Enterprise Risk Manager
- Operational Risk Manager
- Business Risk Manager
- Regulatory Compliance Manager
- Financial Crime Compliance Manager
- FinCrime Risk Manager (Fraud)
- FinCrime Risk Manager (AML/CTF)
- Business Compliance Manager (Expansion)
- Finance & Treasury:
- Head of Internal Audit
- Treasury Manager
- Tax Manager
- Exchange Control Officer
- Data & Operations:
- Data Analyst (Engineer)
- Information Officer
- Global Remote Roles Available:
- Software Engineer (Data)
- Recruiter (Business)
Those who take the roles will work alongside the already confirmed staff for the bank, which includes local CEO Jacques Meyer, who previously worked at Discovery Bank, Tyme Group and SARS.
The bank also appointed Dr Gaby Magomola as chairman of its South African business, who previously held senior positions at Citibank, Barclays, and FNB, and served as the CEO of African Bank.
The bank’s potential
Often termed a ‘neobank’, Revolut offers free and subscription-based digital banking services through its mobile app.
Features include domestic and international bank transfers, debit and credit cards, stock and crypto trading, and traditional savings accounts and loans.
Digital banks in South Africa have already penetrated large parts of the South African market, with GoTyme Bank and Discovery Bank now profitable after launching in 2019.
These digital banks benefit from a far lower cost base than legacy brick-and-mortar banks and are popular among new entrants to the field.
Despite its strong international success thus far, GoTyme CEO Cheslyn Jacobs is not too worried about the new bank’s entrance into South Africa.
Speaking with BusinessTech, Jacobs admitted that Revolut’s operations are “super sexy,” but South African operations would be rather niche.
He noted that while the bank has millions of customers, they are spread across the world. On the other hand, GoTyme has over 12.5 million customers in South Africa alone.
Revolut’s niche operations thus differ from GoTyme’s high-volume, low-margin focus, but Jacobs welcomed the competition from Revolut, as it will ultimately be better for consumers.
Revolut will also launch amid heightened competition in the banking space, with retail giant Pep also looking to launch a bank, which looks to leverage its store base of over 2,500 stores.