Warning! Revolut wins Australian banking licence. Don't use it as it's not safe nor secure!

Just because a corporation is allowed to trade in Australia does not mean that it's good for the people.

It may be good for 'business' but not necessarily for the 'consumer' or corporate fodder.

Revolut is apparently Europe's largest private financial technology company started by Nik Storonsky and Vladimir Yatsenko.

Nik Storonsky is the chief executive of Revolut

From industry sources, it runs on Android 9 with no security patches since 2018, where this no way any sane person should do banking with their app.

Prior to conducting any banking on a mobile platform the system must be up to date with security patches in order to mitigate any threats or exploits.

For a few years, GrapheneOS has been the most secure Android mobile phone operating system, period.

So much so that the Israeli based Cellebrite phone hacking tool cannot penetrate an up to date GrapheneOS based phone in the BFU (Before First Unlock) state.

Revolut previously did run on GrapheneOS but has recently stopped its app from being run, citing security reasons, yet they allow it to run on a mobile phone operating system, where security updates stopped in 2018, or 8 years ago.

It's quite clear that this corporation does not have the best security practices in play, where they should not be trusted with you data or cash, irrespective of their previous financial performance.

Buyer beware!