Month: July 2024

Husqvarna and Liverpool FC break new ground with unique global partnership

Husqvarna, the world leader in robotic lawnmowing and part of Husqvarna Group, is proud to partner with Liverpool Football Club – one of the most iconic football clubs in the world. As part of the multi-year global agreement, Husqvarna will become the official groundskeeping partner of Liverpool FC, the first partnership of its kind for both parties. 

Since 2021, LFC has been using Husqvarna robotic mowers to maintain the pristine conditions of the green spaces at AXA Training Centre, and AXA Melwood Training Centre, supporting the Grounds management team to ensure that LFC’s playing surfaces continue to be of the highest standard for players. Through this partnership, Husqvarna’s state-of-the-art equipment and innovative solutions will be more deeply integrated into LFC’s groundskeeping teams’ daily routines and pitch upkeep, making it a key part of creating and maintaining optimal pitch conditions for elite level playing and training.

“We are thrilled to announce this partnership between Liverpool FC and Husqvarna, two premium market leaders united by their shared values and innovative approach”, says Ben Latty, Chief Commercial Officer at LFC. “We have developed ambitious commercial targets to attract the best brands that fit with Liverpool Football Club, and that can also help drive further success on the pitch. Husqvarna’s reputation for quality and innovation in grounds maintenance is unmatched, and we look forward to working closely with them to ensure our facilities continue to be maintained to the highest possible standards.”

LFC will help raise Husqvarna’s global profile through bespoke content and activations using its award-winning social platforms, which enjoy a combined global following of 186 million. Additionally, Husqvarna branding will also be featured on the digital LED boards during matches, reaching over 400 million TV viewers per season around the world, enhancing Husqvarna’s brand visibility and awareness on a truly global scale.

“We are incredibly excited about the partnership with Liverpool Football Club, a globally recognized and prestigious institution that also shares our values, innovative approach and commitment to sustainability, it is truly a perfect match!” says Yvette Henshall-Bell, President Europe, Forest & Garden Division at Husqvarna. “Together, we bring unparalleled experiences to fans and customers worldwide and we look forward achieving great things on and off the field.”

Husqvarna is a pioneer in robotic lawnmowing, introducing the world’s first robotic lawnmower in 1995, and has remained the undisputed market leader in automated lawn care solutions since then. In 2022, Husqvarna CEORA was launched, taking the commercial turf industry into the next era alongside already existing professional robotic solutions.

Europe’s quantum communication community gathers in Dublin for IrelandQCI event

Quantum technology specialists from across Europe are gathering at the Camden Court Hotel in Dublin city this week for a 3-day conference organised by the IrelandQCI Project Leads at Walton Institute in South East Technological University (SETU). Minister of State at the Department of the Environment, Climate and Communications, with special responsibility for Communications and Circular Economy, Ossian Smyth T. D., was delighted to address attendees today, Tuesday 2 July 2024, an audience made up of representatives from the European Commission, European Space Agency and technology specialists from across Irish and European industry and academia.

The €10m Ireland Quantum Communications Infrastructure (QCI) project, almost one and a half years into its 30 month duration, is one of several EuroQCI projects across the European Union which sees the European Commission working with 27 Member States, as well as the European Space Agency, towards the deployment of a secure quantum communication infrastructure spanning the EU.

The €10m project, co-funded by the European Commission and the Irish government’s Department of the Environment, Climate and Communications, is working to create an innovative quantum technology ecosystem, future-proofing Ireland’s communications infrastructure against cyber-attacks.

The IrelandQCI team is working to establish Quantum Key Distribution (QKD) infrastructure along a major network backbone from Dublin to Cork via Waterford using a quantum channel integrated with existing classical fibre systems.

The project will trial 16 quantum security technology scenarios with key stakeholders across the general public, industry and academic sectors over the project duration.

This week’s QCI Ireland event in Dublin spans 3 days of industry and academic stakeholder engagement, workshops, training and technology specialist addresses from representatives of the European Commission’s PETRUS network – the organisation coordinating the deployment of EuroQCI – and will see over 150 attendees each day.

Opening remarks today were delivered by John Regan, Managing Director of ESB Telecoms, who then introduced Ossian Smyth T.D. who commented on the importance of the IrelandQCI project and Ireland’s fantastic collaborative efforts with the EU and wider EuroQCI territories.

Minister Smyth said,  ‘I’m delighted that the Department of the Environment, Climate and Communications is co-funding the IrelandQCI project with the European Commission. With the creation of a secure communication network, this project represents a major step forward in our ability to protect and encrypt communications. Working collaboratively with European partners through the EuroQCI initiative is a key pillar of the project and I’m glad to see members of other European QCI projects in attendance.

I’d like to commend the Walton Institute for organising today’s event which has brought together a wide range of stakeholders from across many different industries. Today’s event will benefit both the IrelandQCI project and stakeholders in attendance through collaboration and knowledge-sharing’.

Waterford’s Walton Institute in SETU is leading the €10 million IrelandQCI project, on behalf of SFI CONNECT. Several national universities and research centres make up the consortium of partners involved in the project, including quantum technology experts from Trinity College Dublin, UCC’s Tyndall National Institute, UCD, Maynooth University and the Irish Centre for High End Computing at University of Galway, and industry partners HEAnet and ESB Telecoms. These academic and industry specialists are pooling their expertise and resources to achieve success in adding an extra security layer to Ireland’s communications infrastructure and the data it transmits.

Project Lead and Director of Research at Walton Institute, Dr Deirdre Kilbane, commented: “This event is an excellent coming-together of the quantum communication community not only from across Ireland but across Europe, gathering here in Dublin for knowledge-sharing.

There are sectors represented here today spanning not only STEM industries but also health, security, education, finance, telecommunications and more. IrelandQCI will create a secure communication infrastructure that will benefit not only government, industry, and academia, but wider Irish society. At Walton Institute, we are very proud to lead this event, and we are delighted with the success of this week’s QCI Ireland event in bringing so many of our stakeholders together. We are glad to welcome our European colleagues to Dublin and to hear the success stories from other EuroQCI territories.”

HEAnet and ESB Telecoms are key partners in the project, as the quantum communications network is being built across the dark fibre optic network of ESB Telecoms parallel to the existing HEAnet backbone between Dublin, Waterford and Cork.

Managing Director of ESB Telecoms, John Regan, commented: ‘’ESB Telecoms, in its pioneering role in the Ireland QCI consortium, is committed to shaping Ireland’s quantum future. We take immense pride in providing the vital fibre optic backbone for the project.

Quantum technology will ensure the security of our digital infrastructure well into the future. This conference is a testament to the unwavering dedication of Ireland QCI, the European Commission, the European Space Agency and our consortium partners in this crucial project.”

Overseas EuroQCI attendees at the event include representatives from the UK, Portugal, Spain, Germany, Cyprus and Greek quantum communication infrastructure projects.

Project Director at Deutsche Telekom PETRUS and Nostradamus Programmes at the European Commission, Keith Elder, commented: ‘’Petrus, as the Coordination and Support Action (CSA) for the national deployment projects funded under the Digital Europe Program for EuroQCI, along with the consortium partners Deutsche Telekom, Austrian Institute of Technology (AIT), Thales SIX and Airbus, is pleased to be able to participate in this important event, giving Petrus the opportunity to work closely with various stakeholders involved in EuroQCI from different Member States, QCI projects, academia, and manufacturers.

This will allow Petrus and the participants to exchange ideas based on the experience gained in the various projects to build on the foundations already laid for EuroQCI and to extend the roadmap to a full deployment. There are a large number of activities in the field, and with the support of the European Commission, projects are advancing the knowledge, the technology and the understanding of the end user benefits of QKD services. Bringing all this experience together in Ireland is a great opportunity for the community to share their experience and knowledge.’’

Industry experts across the agenda include speakers from Toshiba, BT, ID Quantique, Mbryonics, BME, QT Labs and Quantum Industries. Key local representatives include attendees from Government Networks, Science Foundation Ireland (SFI), IDA Ireland, Enterprise Ireland, ComReg, INEX, IBM, Airbus, ESB Networks and more. The agenda includes quantum flagship, vendor and use case workshops, community cooperation and sustainability plans, international deployments, and various insightful panel discussions.

Skullcandy launches all-new Active collection

Skullcandy announced an all-new Active Collection featuring three new purpose-built “active” true wireless products for the most active and adventurous consumers, including Push Play Active, Push ANC Active and Sesh ANC Active.

The new earbuds are designed with different features at different price points to meet users where they’re at. Ranging from £49.99 to £89.99 MSRP, the Active Collection will begin selling June 25 on Skullcandy.com and at select retailers. 

“We crafted the Active Collection to meet the demands of those seeking reliable earbud performance in any conditions, from our famously fearless boardsports fans and fitness fanatics to casual outdoor adventurers,” said Justin Regan, VP of Marketing, Skullcandy. “These buds are the ultimate companions for those who dare to push boundaries.”

Push ANC Active is a zero-compromise earbud with every active feature, including ultra secure, low-profile ear hangers, fully-waterproof construction, adjustable Stay-Aware Mode and 4-Mic Active Noise Canceling. Sesh ANC Active features all-day battery, adjustable 4-Mic

Active Noise Canceling, fully-waterproof construction and a specially designed in-ear Fit Grip that keeps it comfortably in place. Push Play Active is built for any weather, condition or activity, shrugging off sweat, water, and even dust and dirt, with an unrelenting 34 hours of play time. Secure, low-profile ear hangers keep your earbuds comfortably in place at the gym, on the trail or upside down in mid-air.

 

Tech specs tied to each Active Collection product include:

 

Skullcandy Push ANC Active True Wireless Earbuds – £89.99 MSRP

    • Up to 37 Hours Battery Life with ANC ON– 7 hours in the earbuds, 30 hours in the charging case
    • Up to 58 Hours Battery Life with ANC OFF– 12 hours in the earbuds, 46 hours in the charging case
    • Rapid Charge – A quick 10 minute charge gives you 2 hours of playtime
  • Adjustable 4-Mic Active Noise Canceling – Actively monitors the surrounding environment to filter out external noise, maintaining crisp audio quality
    • Adjustable Stay-Aware Mode – Make necessary audio adjustments to stay alert and hear surroundings
    • IP67 Sweat and Waterproof – Worry-free durability for any adventure
    • Wireless Charging – The charging case can charge wirelessly for convenient refueling
    • Personal Sound – Tune your audio experience to your unique hearing ability by taking a real-time audio test to create a Personal Sound Profile for optimized audio levels
  • Skullcandy App Compatibility – Enables users to dial in their audio experience, including button customization and custom equalizer levels
  • Multipoint Pairing – Seamlessly pair to multiple devices at once, regardless of platform or manufacturer
  • Sidetone – Counteract occlusion, allowing users to hear their own voice more naturally

 

Skullcandy Sesh ANC Active True Wireless Earbuds – £69.99 MSRP

    • Up to 28 Hours Battery Life with ANC ON– 7 hours in the earbuds, 21 hours in the charging case
    • Up to 48 Hours Battery Life with ANC OFF– 12 hours in the earbuds, 36 hours in the charging case
    • Rapid Charge – A quick 10 minute charge gives you 2 hours of playtime
  • Adjustable 4-Mic Active Noise Canceling – Actively monitors the surrounding environment to filter out external noise, maintaining a crisp audio quality
    • Adjustable Stay-Aware Mode – Make necessary audio adjustments to stay alert and hear surroundings
    • IP67 Sweat and Waterproof – Worry-free durability for any adventure
    • Personal Sound – Tune your audio experience to your unique hearing ability by taking a real-time audio test to create a Personal Sound Profile for optimized audio levels
  • Skullcandy App Compatibility – Enables users to dial in their audio experience, including button customization and custom equalizer levels
  • Multipoint Pairing – Seamlessly pair to multiple devices at once, regardless of platform or manufacturer
  • Sidetone – Counteract occlusion, allowing users to hear their own voice more naturally

 

Skullcandy Push Play Active True Wireless Earbuds – £49.99 MSRP

  • Up to 34 Hours Battery Life – 10 hours in the earbuds, 24 hours in the charging case
  • Rapid Charge – A quick 10 minute charge gives you 2 hours of playtime
  • IP55 Sweat and Water Resistance – Go on any adventure without missing a beat
  • Adjustable Stay-Aware Mode – Make necessary audio adjustments to stay alert and hear surroundings
  • Multipoint Pairing – Seamlessly pair to multiple devices at once, regardless of platform or manufacturer
  • Clear Voice Smart Mic – Experience a reduction in background noise to ensure calls are crystal clear
  • Preset & Custom EQ Modes – Choose one of the preset EQ modes or create your own custom 5-band EQ
  • Sidetone – Counteract occlusion, allowing users to hear their own voice more naturally

See some of our Skullcandy reviews

See Skullcandy.co.uk for more

The New C-Suite Role Accelerating AI innovation

With the rise of Generative AI organisations across both the public and private sector in Ireland today are considering its impact on their domain. Across a range of sectors, there are expectations that AI, and especially GenAI, can increase productivity, enhance customer and citizen experience, and accelerate innovation. Neil Bowden, AI Business Development Executive at Dell Technologies in Ireland tells us more 

Across industry Generative AI is enhancing existing AI solutions or creating entirely new operating models. In the financial industry, for example, AI has long been used in areas such as market forecasting and fraud detection, Generative AI is now enhancing these use cases by opening up new data sources and allowing non-technical users access. While in healthcare, AI is enhancing patient experiences acting as an assistant to caregivers and helping scientists develop new treatments.

When surveyed 7 in 10 business and IT decision-makers believe they are well-positioned competitively and have a solid strategy in place to harness the power of AI. However, 56% admit uncertainty about what the next three to five years will bring to their industry, and 49% are struggling to keep pace with the disruption.

This is leading to the appointment of a senior executive to have oversight of AI initiatives; in many cases a Chief AI officer (CAIO) is appointed to manage the transition to an AI led organisation.

The United States Office of Management and Budget (OMB) recently issued a government-wide policy asking all federal agencies to name a Chief AI Officer, and according to FedScoop, as many as two-thirds of U.S. federal agencies have done so.

According to the recent findings from Dell research, almost 20% of organizations surveyed globally identified a central team or individual to set AI strategy, and a separate report found that the number of ‘head’ of AI jobs has tripled over the last five years.

AI can drive innovation in business and enhance access for citizens to government services, but whether in private or public institutions organisational objectives must align with AI strategies for successful outcomes, and this is where the role of the CAIO is paramount.

For AI leaders looking to embrace the technology, there are some key considerations.

Understand your organisations overall AI strategy.

Without exactly knowing the outcome, it is hard to align the people, process and technology to achieve it. Understanding the overall AI strategy and not just some discrete use cases will lead to smarter investments.

Having the big picture of the overarching strategy for AI organisations can align with the right governance and security frameworks,

The good news is that 9 in 10 IT and business leaders think Irish organisations can use GenAI responsibly, according to Dell Technologies Innovation Catalysts Study.

There is no one-size-fits-all approach when it comes to adopting AI

While some there are some standard patterns to follow when implementing AI within an organization there is no on size fits all. What works for one organization may not work for other, and not every use case will require the same level of investment.

As per Dell’s latest study majority of the respondents said investing in modern, scalable data infrastructure was the number one area of improvement for business with 66% saying they prefer an on-prem – right where the data is or hybrid model to address the challenges, they foresee with implementing GenAI. There is also a wide spectrum of models emerging from industry-specific large language models (LLMs) to purpose-built smaller models that can run efficiently at the edge.

Approach AI with a holistic focus, beyond just the technology itself

AI is not just technical. Leaders across organisations from business, from IT and beyond need to come together to realise the transformative potential of AI.

Organisations should consider uses for AI across all their business units, from HR, Finance, legal, communications, and beyond.

The IT teams should, of course, be involved from the inception to develop a deep understanding of the problem being addressed and the AI technology.

Dell’s recent study showed that GenAI holds transformative and significant potential to deliver value in improving a company’s IT security posture (48%), enhance customer experience (47%) and unlock productivity gains for organisations (42%).

Leaders across Ireland should communicate the why behind their AI strategy to employees, customers, and partners and build a consensus with all stakeholders about how this will enable everyone to work in better and different ways.

Approach AI Openly

Open standards have driven the growth internet and with AI the situation is the same. Building AI solutions requires multiple parts, committing to open standards will drive innovation and enable greater flexibility and security in an organisations AI ecosystem.

Open models, technologies and scientific papers have driven all of the AI innovations today and many of the AI first adopters, Dell included. Access to open models ensures a robust ecosystem and fuels a global “innovation engine” in to the future.

To understand the strategy and bring all of the elements together, Irish businesses should consider appointing a senior AI executive, a Chief AI officer. By embracing a new face to the C-Suite, organisations can actively adopt and leverage AI to unlock new growth opportunities and drive Ireland’s digital economy forward and position it as an AI leader.

First Look – Skullcandy SLYR Pro gaming headphones

The all new Skullcandy SLYR pro have dropped in for review, if you are a gamer these are the latest product on offer from the brand and after checking out the Street fighter Edition PLYR earlier this year and still love and use today we look forward to seeing what these have to offer.

SLYR Pro takes your game to the next level with advanced features you just can’t get in other wireless headsets. Skullcandy Supreme Sound delivers full, rich audio and our advanced Clear Voice Smart Mic uses A.I. to isolate your voice for ultra-clear communication.

Game/chat mix, custom EQs and sidetone can be accessed through the Skull-HQ App. The icing on the cake is our exclusive Enhanced Sound Perception feature, which utilizes a hearing test in the app to optimize the sound to your unique hearing.

Any questions feel free to ask as always and stay tuned for more soon.

Features 

  • Headset Type: Wired/Wireless Over-ear

  • Connection Type: 2.4ghz, Bluetooth®, USB-A, 3.5mm Aux

  • Impedance: 32Ω

  • Driver Diameter: 50mm

  • THD: <2% at 1KHz

  • Sound Pressure Level: 95 ± 3dB

  • Frequency Response: 20Hz – 20KHz

  • Weight: 274g

BUY 

Unboxing

Tech Review – Boom BM05-1013 Collaboration WFH

The Boom BM05-1013 Collaboration WFH Kit, which includes the Boom Giro audio device and Boom Mini Camera, is a comprehensive solution for professional video conferencing and remote work.

The Boom Giro audio device features a 360-degree omnidirectional microphone with full-duplex HD audio, providing a high-quality conferencing experience. It offers the flexibility of wireless Bluetooth connectivity or a simple USB plug-and-play setup. The Giro’s built-in lithium-ion battery and Work Anywhere Case make it suitable for home office, huddle room, and on-the-go use.

Features:

  •       360° omnidirectional pickup
  •       Full-duplex HD audio
  •       Dynamic Noise Reduction (DNR)
  •       Bluetooth 5.0
  •       Lithium Ion battery
  •       USB Plug & play
  •       3-year warranty

 

 

The Boom Mini Camera delivers a sharp, high-resolution 1080p image at 30fps, with a wide 90-degree field of view and advanced image processing for exceptional colour and clarity. Its compact, stylish design complements any workspace, and the universal USB compatibility ensures seamless setup on PCs and Macs. The camera’s advanced focus technology and low-light optimization ensure a professional impression during video calls.

 The Boom MINI is a webcam.

This Uses an advanced Image Signal Processor, the MINI provides a vividly clear image with even brightness, fantastic colour rendering, a high-resolution image and ultra-smooth video transmission.

 

Boom MINI highlights & features

  •       High-definition Image: A high-quality CMOS sensor provides a clear and vivid HD

image. The MINI supports resolution compression of up to 1920 x 1080 @ 30fps

  •       Lens: 90º wide-angle glass lens
  •       Zoom: 3x digital zoom
  •       Advanced Focus Technology: A fixed lens with an advanced focus algorithm that

provides an accurate and stable image without blurring when objects move

  •       Built-in Mic: Built-in Dual Noise Suppression and Echo Canceling Microphones for clear

and natural stereo sound without external pickup equipment

  •       Flexible installation: Use the built-in clip to attach the Boom MINI to your screen, laptop,

or desktop or use the ¼” connection for a tripod mount.

  •       Use it anywhere: Compatible with any video conferencing platform or video recording

software

  •       Convenient: No need to download a webcam driver or extra software. It’s truly PLUG

and PLAY

  •       USB 2.0: For plug and play, power and firmware updates
  •       Multiple Video Encoding: H.264, H.265, MJPEG, and YUV2 enabling fluid video play
  •       3-year warranty

 

 

 

Installation & setup

Both the Giro audio device and Mini Camera are easy to set up and use, with no need for additional software or drivers. The plug-and-play functionality worked seamlessly in testing, with the camera automatically detected as the default camera on a video call. The Giro can also be connected to smartphones via Bluetooth, allowing for collaborative conferencing.

  

Conclusion & warranty

The Boom BM05-1013 Collaboration WFH Kit stands out with its comprehensive 3-year warranty, which can be extended to 5 years, instilling confidence in the quality and durability of the hardware and software.

Overall, the Boom BM05-1013 Collaboration WFH Kit is a prestigious and well-designed solution for professional video conferencing and remote work, offering excellent connectivity, image quality, and warranty coverage.

Boom MEEZO review

Boom UNO review 

 

https://www.boomcollaboration.com/product

Video review

Datapac’s Managed Threat Ops service analyses over 380 million cybersecurity events in first year

Datapac, Ireland’s leading technology solutions and services provider, is today announcing that its Managed Threat Ops service has analysed over 380 million cybersecurity events since it was first launched 12 months ago.

A cybersecurity event is any activity on an organisation’s network that may be indicative of a security concern, such as a failed login attempt or a login from a different geographical location.

Other events in the past year have included suspicious movement within company networks or otherwise unusual behaviour patterns, lateral movement techniques that may be used by attackers to move within a network after gaining initial access, and anomalous user behaviour that may indicate a compromised account or insider attack.

Managed Threat Ops provides 24/7/365 cyberthreat hunting, response, and neutralisation to stop cybersecurity incidents in their tracks. It leverages a combination of human-led expertise and AI acceleration, enabling organisations to change their cybersecurity approach from reactive to proactive and freeing up internal resources.

In its first year, the service has been adopted by customers across a broad spectrum of organisation sizes and industry verticals such as legal, the public sector, distribution, construction, retail, hospitality, and not-for-profit. Managed Threat Ops provides proactive support to businesses of all sizes, including single-site SMBs as well as national and multinational enterprises.

Since adoption, some key benefits noted by customers are that the service operates in the background with minimal notifications or interruptions to workflows, and delivers speedy remediation in times as low as 15 minutes in the event of an incident.

Driving the demand for the Managed Threat Ops service is the ever-evolving cyber threat landscape. Increasing threat sophistication means that some traditional cybersecurity solutions, such as antivirus, firewalls, and unmanaged endpoint protection, are often not enough to provide sufficient protection for businesses.

In the coming year, Datapac expects a number of key driving factors will contribute to increased uptake of the Managed Threat Ops service. These include new pieces of legislation that are due to come into effect – the NIS2 Directive and the Digital Operational Resilience Act (DORA) – which mandate robust cybersecurity measures to ensure compliance and security management best practices.

In addition, in line with growing cyber threats, cybersecurity insurance is becoming a necessity for more organisations. In order to secure favourable premiums and, in many cases, to secure cybersecurity insurance at all, organisations need to have 24/7 managed threat detection and response in place.

Patrick J Farrell Solicitors in Newbridge, Co. Kildare, adopted the Managed Threat Ops service to protect their highly sensitive organisational and customer data. “In times of increased cybersecurity threat, we felt the need to have a managed threat service and we are very happy with the service we get from Datapac in providing that,” said Niall Farrell, Managing Partner.

Karen O’Connor, General Manager, Datapac: “A key strength of the Managed Threat Ops service is its ability to cut through the cybersecurity noise, as some seemingly benign security events could bypass most traditional cybersecurity systems, posing a risk to data security. More and more organisations of all sizes are realising the benefits that 24/7 managed threat detection and response services can provide in the modern threat landscape. Managed Threat Ops is robust enough to meet the demands of larger enterprises, yet scalable enough to operate within the more moderate budgets of organisations in the SMB space. Going forward, it will also help organisations to remain compliant as new regulations come into force. We’re looking forward to continued success with the service amid increasing demand from customers for proactive and reliable cybersecurity.”

Revolut’s revenues surpass $2.2bn, with record profits of $545m in 2023

Nik Storonsky, CEO of Revolut said: “This year, we took our biggest steps yet on our mission to deliver the best product and the best customer experience at great value to customers, everywhere. Our customer base is expanding at impressive rates, and our diversified business model continues to fuel exceptional financial performance, delivering revenues of over $2.2bn in 2023 and a record profit before tax of $545m. With a net profit of $428m, 2023 was our third profitable year in a row.

“Every day, our products create value for new customer segments and new global markets. We remain committed to our ongoing UK banking licence application in addition to bringing the Revolut app to new markets and customers around the world. Even as we reached 45 million global retail customers six months into 2024, Revolut remains poised for exponential growth in 2024 and beyond, continuing to redefine the financial services landscape as we’ve known it.”

2023 Performance Highlights 

Strong financial performance amidst wider market challenges (see Figure 1) 

Revolut delivered record profits and revenue growth, while navigating an increasingly complex geopolitical, macro-economic, and regulatory environment. 

– Group revenue increased by 95% from $1.1bn (€1.1bn) in 2022 to $2.2bn (€2.1bn). – Revolut has now been net profitable for three years in a row: 

– Profit before tax was $545m (€503m), and net profit grew to $428m (€395m), up from $7m (€7m) in 2022 

– Net profit margin for the year was 19%, reflecting the inherent efficiency and scalability of Revolut’s business model, improved partner unit costs, and continued growth of high-margin revenue streams. 

Accelerated growth driven by diversified revenue model, expansion into new markets and deepening customer engagement (see Figure 2)

Revolut’s revenue diversification continued to drive sustainable growth with no single product stream or country accounting for more than 30% of total revenue in 2023. – Over the year, Revolut added almost 12m new customers globally, the highest YoY increase in the company’s history, bringing the total to 38m in 2023. 

– 70% of new retail customers joined organically or were referred by someone they know. Word of mouth growth complemented by further investment into marketing and sales functions, including for Revolut Business which was onboarding 20,000 SMEs (small and medium enterprises) each month by the end of the year. 

– This growth was consistent across all revenue streams of Revolut’s diversified business model, with more customers engaging in more its products: – Cards & Interchange: $605m (€559m), up 59% from $379m (€352m); – FX & Wealth: $491m (€454m), up 46% from $334m (€310m); 

– Subscriptions: $303m (€280m), up 53% from $196m (€186.5m); 

– Total customer balances increased from $16.4bn (€15.2bn) to $22.7bn (€21bn). – Due to expanded treasury capabilities, higher customer deposits, alongside the tailwind of increases in central bank rates, and acceleration in the credit portfolio, interest income grew to $621m (€575bn) in 2023 compared to $102m (€95m) in 2022. 

– Customer usage accelerated with transaction volume increasing by 58%, reaching close to $870bn (€804bn). Monthly transactions as of Dec 2023 totalled 590m, up 73%. 

– An increasing number of customers have adopted Revolut’s services through paid subscriptions, with 41% growth in customers opting for a paid plan. 

– As of June 2024, Revolut is the most downloaded app in the Finance category in Europe, ranking first in 17 countries. 

– The company expanded into new markets, including Brazil and New Zealand, bringing its global footprint to 38 countries. 

Investing in best-in-class products and talent to meet consumers and businesses’ financial needs 

With a focus on core banking services in Europe, Revolut doubled down on reinvestment to support future growth, including product development and expansion into new markets. – $300m (€277m) was allocated to advertising and marketing to supplement our organic growth. We also scaled our B2B sales team to over 900 employees by the end of 2023, as we aim to better serve the needs of larger enterprises. Total headcount increased by 38% YoY to 8,152. 

– Revolut also developed new local features across key European markets: – IBAN: The company expanded local IBAN offerings for retail customers in France, Ireland, Spain and Netherlands. 

– Credit: Personal loans were launched in France, Germany, Spain as well as credit cards in Ireland and Spain. 

– Savings & Funds: Money Market Funds was launched across 22 countries in the EEA with balances reaching nearly $1.9bn (€1.7bn) since launch.

2024 outlook (see Figure 3) 

– Continued customer growth: As of June 2024, Revolut has reached 45m customers globally, representing an increase of 7m in the first 6 months of the year. The company is on track to surpass 50m customers by the end of FY24. 

– Expanding products and features: In addition to launching its existing suite of products in more markets, in the first six months of 2024, Revolut has launched: – eSIMs: Allowing customers to buy phone data packages through the Revolut app, signifying our push into non-financial services (available in the UK and select EEA markets). 

– RevPoints: Revolut’s loyalty programme – which enables customers to earn points on everyday spend (available in the UK and select EEA markets). – Revolut Robo-Advisor: A semi-automated tool that uses algorithms to manage investment portfolios, allowing customers to invest in a diversified tailored portfolio without spending hours on research and continuously managing their portfolios (available in the US and EEA). 

– New Global HQ: Revolut announced a deal to move its global HQ to the YY building in Canary Wharf. The move will help facilitate the future growth of Revolut’s UK and global operations. 

Focus on Ireland 

Revolut’s profitability has enabled it to invest in building the best-in-class products that Irish consumers rely on, while its growth is a result of continuing to innovate on its market-leading app. Revolut has gained the trust of more customers in Ireland, becoming their primary bank. 

– Revolut had 2.7m customers in 2023, an increase of more than 21% from the end of 2022, when Revolut ended the year with 2.2m customers. 

– Today, Revolut has fast become the best solution for customers to manage their finances daily. The brand has become a verb in Ireland, with “Revolut me” the typical way to send money between friends and family, or to children. 

– Revolut offers financial products for almost all needs in Ireland, ranging from current accounts, to credit cards, to investing; while mortgages remain firmly in the pipeline. – By the end of 2024, it has set its sights on reaching the 3 million customer mark. – Revolut isn’t just for retail either. At the end of 2023, Revolut had close to 52% more companies in Ireland using Revolut Business than at the end of 2022. 

As a major player in the Irish financial services sector, Revolut boasts many talented leaders who hold senior leadership roles across the bank, steering the company towards becoming the world’s first truly global financial app. Revolut’s ambitions are matched by its customers. 

– Revolut is an employer of choice, and has 10% more staff in 2023 than 2022 and over 23% more in 2024 (YTD) than 2023. It employs more than 175 people here, many of whom hold highly-skilled roles working out of Dublin and remotely across the country. 

– An increase in trust, talent, and ambition has seen Revolut capture the attention of the Irish market. After the launch of its up to 3.49% interest bearing Instant Access Savings accounts, Revolut received deposits in the region of 9-digits in a fortnight.

– Balances are up across the board by more than 50% (2022 vs 2023) and over 26% (2023 vs 2024 YTD), emphasising how its big ambitions are backed by its customers. 

Revolut was recently recognised by financial comparison site Bonkers.ie as ‘Ireland’s Best Consumer Business’ and ‘provider of the Best Current Account’, whilst it ranked 9th as part of the Ireland RepTrak® 2024 study earlier this year. 

The 2023 Annual Report can be viewed online or downloaded in pdf format at: revolut.com/financial-statements/

Irish businesses have the potential to deliver quality applications fast and at scale with Automation and AI to support their strategic growth

Globally, CEOs expect their digital product revenues to almost double over the next five years. This projection underlines the urgency for organisations to optimise their modern app delivery processes and capabilities to compete. Delivering quality at scale, however, sees slow implementation due to slow software delivery, developers still spending two-thirds of their time on manual and mundane tasks. With 45% of organisations shifting to a value-led approach by 2025 to remain competitive, the solution is an automation-centric strategic approach.
The organisational design of application delivery and the placement of quality within that value chain are essential to ensuring the alignment of metrics and business objectives at individual, team, and organisational levels.
“AI is no longer a futuristic concept but a present-day reality transforming software development. Organisations can now supercharge the way they deliver software and applications to their customers, by embracing solutions built on AI, automation or low-code.
This is supported by data found in the recent IDC InfoBrief, we commissioned, which highlights how AI and automation are driving productivity and quality.  These valuable insights highlight the key role of quality at all stages of the software delivery process”, said Eduardo Amaral, Quality Management, DevOps & Automation Global Director at Noesis.
According to the IDC InfoBrief, Quality at Scale, 2024 Edition, sponsored by Noesis the use of Generative AI in the development process will lead to increased speed and higher productivity, giving companies the ability to quickly scale up. It also states that modern app delivery is a 2024 priority for 80% of organisations, with business outcomes such as increased agility to meet business requests, faster product development and increased business resilience being the key driving factors.
“If an organisation wants to remain competitive, a value-led approach, leveraging automation and AI, will ensure quality practices become central to software and application delivery” added Amaral.
Noesis, which has recently expanded into Ireland, recognises the potential for Irish businesses to improve their efficiency in delivering software and applications to the market and highly-efficient customer-centric solutions by using technology in the process, from ideation to development, quality testing and delivery.
“Ireland is a very exciting growth market for us, where we see tremendous potential. We know, and we can see this in the research, that there is still a lot of work to be done especially in driving value at scale. To deliver productivity excellence and quality at speed and scale, organisations need a DevOps-centric approach, that considers both culture and practices. Automation is key in this process, but it requires strategic planning, team orchestration, and a well-defined automation strategy. This is where, with our expertise and global footprint and know-how, we can help Irish businesses leap ahead to a very exciting future, that’s full of potential”, concluded Ricardo Batista, Managing Director UK and Ireland at Noesis.
The whitepaper can be downloaded from here