Revolut was approved for a UK banking licence in July 2024 after a three-year wrangle with regulators but remains subject to restrictions during a “mobilisation phase”. Photograph: JUSTIN TALLIS/AFP via Getty Images)
Revolut’s full UK banking licence is being held up by regulators’ concerns over whether its risk controls can keep pace with the rapid growth of its overseas operations.
Bank of England officials have sought commitments from the fintech group, which has 65 million customers in about 40 countries, that it will build its risk management infrastructure to match its ambitious international expansion pl
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