- Revolut selects Exasol over alternative cloud vendors for freedom and performance
- Exasol provides 100x faster data queries, helping Revolut employees make data-driven decisions
London, UK, 30 July 2019 – Digital banking alternative Revolut, one of the most data-driven companies in the world, has achieved true democratisation of data with the help of Exasol, the analytics database. Despite data volumes increasing 20-fold over the past twelve months, queries that used to take hours are now completed in seconds, enabling self-serve data analytics for all employees across business functions.
“We are an extremely data-driven company,” said Demeter Sztanko, Head of Data Engineering at Revolut. “We maintain around 800 dashboards and run around 100,000 SQL queries on a daily basis across the organisation. When we looked at cloud vendors, it quickly became apparent that running the analytics we wanted to could become prohibitive but not with Exasol. In addition, we also love the flexibility that Exasol offers because they do not lock us in to any single environment and this is very important for us.”
Revolut is the fastest growing fintech in the world and handles every aspect of money management. It achieved unicorn status in 2018 and now has more than six million customers globally. Revolut runs a multi-node Exasol cluster on Google Cloud Platform. Exasol offers unparalleled flexibility, with on-premises, cloud or hybrid and multi-cloud deployment options, which means there is no vendor lock-in for their customers. This allows Revolut to expand to countries where Google Cloud Platform is not available.
“We wanted to ensure everyone has access to the data they need for their daily work in a simple and efficient manner, and Exasol has helped us achieve that. Working with Exasol is very personal for me because I know the team is always ready to help. I have visited their headquarters and I have met everyone on the tech team personally,” added Sztanko.
Revolut’s data science and engineering team has ambitious plans for the future, which include working together with Exasol to make full use of Exasol’s capabilities to apply machine learning tools to its processes and empower Revolut employees with the data analysis capabilities they need.
Exasol is the analytics database. Its high-performance in-memory analytics database gives organizations the power to transform how they work with data, on-premises, in the cloud or both – and turn it into value faster, easier and more cost effectively than ever before.
To learn more about Exasol please visit www.exasol.com
Revolut was launched in July 2015 by former Credit Suisse and Deutsche Bank investment bankers, Nik Storonsky and Vlad Yatsenko, as a digital alternative to the big banks. While the fintech initially drew in customers by allowing them to spend and transfer money abroad with the interbank exchange rate, the company has since attracted over 6 million customers in Europe with its spending overviews, budgeting controls, savings features and cryptocurrency exchange. To date, Revolut has raised approximately $340 million in funding, from notable venture capital firms including Index Ventures, Ribbit Capital, Balderton Capital and DST Global.
Carla Gutierrez, Global Communications Manager at Exasol