The boss ofSwissquote's digital banking app Yuh took aim at foreign rivals such asRevolut, arguing they compete unfairly in Switzerland by avoiding the licensingcosts that local banks have to carry. He made thecomments while laying out a plan to more than double Yuh's customer basewithout hiring anyone new.Jan DeSchepper, who runs Yuh and also serves as Swissquote'schief sales and marketing officer, said the app wants to reach 1 million users by leaning on automationrather than headcount. He spoke toSwissnewspaper Finanz und Wirtschaft as Yuh marked its fifth year.A Push to 1 Million UsersWithout New StaffYuh nowcounts about 425,000 customers, De Schepper said, up from the roughly 342,000accounts the company reported in mid-2025. He said close to 20% of them openthe app daily, a rate he described as high by global standards.To hit 1million without growing the team, De Schepper is betting on Yuh's chatbot,Yuhlia, which he wants handling 90% of customer queries. The app turned its first annual profit in 2024, earning CHF 1.7 million, afteraccount numbers jumped 48% that year.He sketcheda path through roughly half a million users this year and 750,000 by 2028, withthe timing of the 1 million mark tied to overseas expansion. "Feeincreases are not the way, we're betting on scale," he said.Taking Aim at Revolut'sSwiss AdvanceRevolutleads the Swiss neobank market with a 53% share and 1.2 million users,according to figures cited in the interview. The British fintech has pushed aggressively across Europe, recently passing 6 millioncustomers in Spain, and now offers everything from savings to CFD trading.De Schepperconceded a player of that size is hard to catch on raw numbers, but argued thecontest should be measured differently. He said Yuhearns more than CHF 200 in revenue per active customer a year and holds averagebalances near CHF 10,000, which he claimed beats the industry norm. Revolut, hesaid, is often used only as a holiday account for small sums.His sharpercomplaint was about the rules. "What Revolut and co. do borders on unfaircompetition," De Schepper said, noting that Yuh answers to FINMA and paysfor that oversight while unlicensed rivals avoid those costs. He calledit unacceptable that such firms can market so aggressively to Swiss customers.De Schepperis not the only European fintech boss with strong views on Revolut. XTB chiefexecutive Omar Arnaout took a very different tack at the Invest Cuffsconference in Warsaw in December, where he said he "hates" theBritish app evenwhile praising it. "Ihate them because they've grown so much, but they're just excellent,"Arnaout said, adding that he uses Revolut himself and that his team studies itsproduct moves daily. Where DeSchepper paints Revolut as a regulatory problem, Arnaout treats it as thebenchmark to beat.A Crowded Field ForcesSwiss Neobanks to Pick SidesDeSchepper's pitch lands in a market where pure retail banking apps arestruggling to pay their way. He pointed to Swiss rivals Kaspar& and Yapeal,both of which have shifted toward business-to-business work, and said the homemarket simply does not have room for everyone.Thepressure is not unique to Switzerland. Berlin-based Trade Republic, Europe'slargest neobroker, doubled its user base to 8 million over the past year and has pushedfrom cheap stock trading into current accounts, bond ETFs and, since November2025, private market funds run with Apollo and EQT. It was last valued at €12.5 billion in a December secondary deal.That landgrab is reshaping how the industry sorts itself. Some brokers chase scalethrough low fees, others bundle banking, saving and investing into a single"super app," a split rival executives have called the defining contest in retailfinance. DeSchepper's answer is to lean on Swissquote, pointing Yuh at price-sensitiveretail users while the parent keeps wealthier clients, a two-brand setup helikened to a telecom running budget and premium labels side by side.New Revenue Lines Beyondthe Free AccountWith feehikes off the table, De Schepper said Yuh makes money on the side, through cardinterchange, currency exchange and transactions, plus interest it earns whencustomers hold euro or dollar balances at better rates than the franc.He outlinedplans for subscription tiers aimed at frequent travelers, active investors andfamilies, a model Revolut has used to lift revenue, plus a fourth product pillarcalled "Protect" that would sell travel, cyber and liability coverwith an insurance partner. Lombard loans, backed by a customer's portfolio, arealso under review.The hardertask is turning second accounts into primary ones. De Schepper said more than20,000 customers already route their salaries to Yuh, worth monthly inflows ofCHF 150 million to CHF 200 million, and that cheaper pricing on services likeTwint and Switzerland's pillar 3a pension accounts is meant to pull moreeveryday banking onto the app.A CHF 180 MillionValuation and a Goodwill QuestionYuh'seconomics still draw scrutiny. Figures cited in the interview put Swissquote'sgroup margin at 51.4% against Yuh's 1.9%, a gap De Schepper attributed to adeliberate choice to chase growth over early profit.The app'sbalance sheet carries CHF 95.4 million in goodwill against net assets of aboutCHF 71 million, raising the prospect of a writedown. De Schepper said none isneeded as long as Yuh hits its business plan.He notedthat Swissquote's buyout of PostFinance's 50% stake earlier this year set a concretevalue on the app for the first time, at CHF 180 million, or about $224 million,covering its customer base, brand and intellectual property.Succession Talk at theSwissquote ParentDeSchepper's dual role has fueled speculation he could one day succeed Swissquoteco-founder and chief executive Marc Bürki. Asked about it, he said the decisionrests with the board and praised Bürki's record, adding he hopes the CEO stayson for a long time.Swissquotehas been reshuffling its top ranks, recently naming former PostFinance chiefHans-Rudolf Köng asits proposed next chairman. The group also expects 2025 revenue and pre-tax profit totop guidance, withrevenue of at least CHF 720 million.For now, DeSchepper said his focus is on Yuh and on carrying the two-brand strategyabroad, using a Luxembourg license that lets the app passport into the EuropeanUnion. He said Yuhwould start with one or two neighboring countries.This article was written by Damian Chmiel at www.financemagnates.com.