Innovation Pace in Fintech.


Benchmark your innovation pace

Benchmark your innovation pace

Innovation is a race toward customer relevance and the competition is racing at high speed. Benchmark your innovation pace with your competition.

37% of banks in Germany viewed fintech as a possible threat.
In the financial service industry, legacy organisations and emerging fintech disruptors are competing in the same environment, for the same customers.

With diverse competitors in the industries, different measures, methods, and strategies are taken, trying to compete.

Digitalization is still till this day the most critical transformation for the majority of legacy financial service organisations, in order to compete and stay relevant.

Open/ Multi- banking is a common strategy among smaller, fast- moving fintech companies, in order to disrupt the system and have a chance with the marketshare.

Partnership and Ecosystem leverages the diversity of competition in the market and aims to create more value for the customer to stay competitive.

No matter how much the starting points or strategies of the companies differ from one another, there is one similar goal for all companies… Customer relevance.

The competition is racing on high speed.

To better understand the benchmark and their effort on innovation towards customer relevance, we examined the features/ improvement roll-out plans of N26 and Revolut from the past 12 months.

Based on the customer value canvas, a holistic view for all consumer relevant proposition of the product, large and small customer-facing innovations of N26 and Revolut in the past 12 months can be quantified and categorized.

Customer value proposition



The current innovation pace benchmark of two fintech leaders.

Fintech leaders N26 and Revolut are innovating at light-speed. See their innovations rates below.
Numbers shown below are based per month.*


Average number of consumer facing Innovations rolled out p/m


Average core product & added value improvements p/m

N26: 0
R: 0

Average CX & Communication/
Content Improvements p/m

N26: 0
R: 0

recent Innovations

recent Innovations

Fintech Innovation timeline
N26 & Revolut

To better understand the benchmark and their effort on innovation towards customer relevance, we examined the features/ improvement roll-out plans of N26 and Revolut from the past 12 months


  • Core Product + Added Value Services
  • Customer Experience, Communication & Content



feb. 2020

New buttons for sending/receiving money

Open Banking

Jan. 2020

SEPA Real-time account transfers

Savings vault

Revolut Insider

Revolut Brexit guide

SmartDelat airport lounges Premium/Metal

Dec. 2019

Interface upgrade for Clarity

Rules for Spaces

3 Month free Youtube Premium

MoneyBeam Emojis

Trading platform updates

Nov. 2019

Partnership with Booking

Supports GBP direct debits

Partnership with Lime

Facilitated Universal Children’s Day donations

Returned Dynamic Balance feature

Added new analytics functionality

Enabled Back-up card requests

Added new Metal Colors

Partnership with The Future Ball

oct. 2019

Made N26 accessible through Google Pay

Hosted RevRally

Sep. 2019

New version of mobile app for PSD2 compliance and security
Collaboration with Transport for London for free rides
PSD2 Compliance Tutorial
Contactless payment regulation explanation

Aug. 2019

Shared Spaces beta launched
Provides information about avoiding phising and scams
Expanded premium “Metal” account benefits
Launches 3D secure payments
Expanded some benefits to other N26 customers
Launched commission-free trading for Metal customers
Partnered with Lime to provide customer discounts on E-Scooter

Jul. 2019

Rebrands N26 Black as N26 You and improves offering
Gave away 30,000 limited edition rainbow cards
Launch donation feature
Change Revolut Business prices
Launch Revolut Metal cards

jun. 2019

Banking Basics: Cash
Launch Revolut with Apple Pay
Launch “Round up” Savings scheme

may. 2019

Revolut partners with Gousto to provide food dicounts
Revolut partners with Agoda to provide discounts
Launched Payments Approval for Revolut Business
Launched Group Vaults for savings

apr. 2019

Launch discreet mode
Revolut translates app into 24 languages
Cash26 Feature Educational Video
Added new currencies to exchange
Launched partner program for Accountants

mar. 2019

Banking Basics: EU Banking Acronyms
Hosts Apache Beam Meetup in London
Comm. Tonality and style explained
Commerce integration w/ Amazon, Paypal, Stripe for business accounts
Introducing auto-exchange

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Your current pace of innovation

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Where do you stand in the race? Calculate and examine your current innovation pace and innovation effort focus.

Assessment and acknowledge is the crucial first step for any effective strategy and organisational change. 

Calculate the current innovation pace together with the product development team, and use the customer value canvas to examine where the innovation effort is focusing on.

As a marketing & innovation firm, we work primarily with legacy organizations to adapt their customer value proposition to meet emerging customer expectations.

Together with our clients we discover business opportunities and deliver integrated customer offers for products, services, experiences and communication.

If you have any questions whatsoever regarding the innovation pace or if you’re interested in working together, get in touch with Alex!

Alex Gillon