Bank of England chief says no rift with UK government as Revolut licence delay draws scrutiny

▤ Summary

Revolut remains in the mobilization phase of its UK banking journey while regulators continue working through the approval process. Bank of England Governor Andrew Bailey denied that tensions exist between the Bank and the Treasury over delays to the fintech’s full bank license. He said the PRA is still handling the process and signaled openness to rule changes that could help the fintech sector grow. The article also highlights how Revolut’s restricted license limits deposits and keeps UK customers on its e-money entity for now.

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