2024 has been another year of unpredictability, both from an economic and political landscape keeping us on our toes. Yet,  the mortgage market has remained impressively resilient and continues to evolve and innovate to meet the needs of today’s would-be and current borrowers. 

One company making waves in the industry is Revolut, which just last Friday confirmed plans to launch its mortgage product in Lithuania, followed by Ireland and France in 2025. Their mission? To offer a fully digital mortgage product with an instant decision in principle and a final offer in one business day. 

Could Revolut be leading the charge into a new era of mortgage innovation?  We take a closer look at what this means for the industry and what communications and marketing teams should consider when navigating this exciting shift. 

Increased competition is no bad thing

For years, the mortgage market has been largely dominated by established banks and specialist lenders. However, Revolut’s entry introduces a fresh wave of competition, thanks to its focus on speed, simplicity, and a seamless digital experience.

For consumers, increased competition often translates to better products, lower costs, and improved service. For traditional lenders, however, this is a wake-up call. To compete with fintech players like Revolut, they must reevaluate their processes, double down on technology investments, and streamline the customer journey.

For communications teams, this competitive shift underscores the importance of transparency and trust. Lenders will need to articulate their value propositions clearly—whether through faster processes, tailored support, or unique financial offerings—to differentiate themselves in an increasingly crowded marketplace.

Data is king

Data is a crucial driver of innovation. With over 50 million customers globally and over 10 million in the UK, Revolut is sitting on a wealth of customer data. This enables Revolut to tailor mortgage products and offers to individual needs, leveraging insights to deliver hyper-personalised experiences.

For traditional lenders, the takeaway is clear: investing in data analytics and machine learning is no longer optional. The ability to harness data for predictive insights, risk assessment, and personalised marketing will separate the leaders from the laggards.

Marketing teams should emphasise the role of data-driven decision-making in their organisations. Whether that be showcasing advanced risk assessment tools or customer-centric design, communicating the value of data can help lenders build credibility in today’s tech-forward world.

A truly targeted approach

Revolut’s digital-first mortgage is crafted for today’s tech-savvy borrowers who demand speed and convenience. This targeted approach aligns with broader trends in the financial sector, where personalisation and segmentation are becoming the norm.

For established players, this means understanding their audience’s behaviours, wants and needs and tailoring their messaging and offerings accordingly. Marketing teams should invest in creating targeted campaigns that resonate with specific demographics, whether it’s leveraging social media or influencer partnerships to engage younger audiences, or using email and direct mail for older, less tech-savvy customers. 

What next? 

Revolut’s entry into the mortgage market is more than just a headline; it’s a glimpse into the future of the industry. Digital-first experiences, rapid decision-making, and hyper-personalisation are no longer nice-to-haves—they’re becoming industry standard. 

For those in the mortgage sector, this moment presents both challenges and opportunities. By embracing innovation, leveraging data, and adopting a targeted approach to marketing, lenders can not only keep pace with disruptors but also position themselves as leaders in a rapidly evolving landscape.