Why Revoluts journey to become a UK bank is taking so long
Summary
Revolut received a restricted U.K. banking license in July 2024 and is still operating in a mobilization phase a year later. The mobilization stage limits how much customer deposit activity the company can take on. Analysts say the delay reflects a mix of regulatory scrutiny and the company’s large scale. The article highlights the complexity of turning a fast-growing fintech into a fully authorized bank.
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