Revolut’s UK banking license may be delayed due to risk management concerns

The Financial Times reported that UK Fintech Revlut hit another roadblock on a long -time mission in his country: its entire banking license is being held because the central bank of the country is concerned about whether its risk management controls can maintain its risk management control over its burning rapid international expansion.

The The Bank of England wants Revlut committed The Financial Times reported that the regulator matched its international growth before approval of a complete banking license, and the controllers were watching the controls of Fintec internationally and internationally in the UK.

Revlut has received approval Get a banking license in the UK more than a year agoHowever still so -called ”Integration“Stage. This episode usually lasts 12 months and imposes deposits restrictions when the final steps of a bank setup are completed and the Prudential Regulation Authority or Financial Conduct Authority evaluates whether it is ready to operate as a full bank.

Importantly, having a full banking license will be allowed to start NDing in the UK in the UK and keep more than $ 50,000 in customer deposits. The company has 12 million customers in the UK

The late news comes as a revolute worldwide with more than Million5 million customers worldwide, and has gone aggressively to expand beyond Britain. The company already has a banking license in the European Union and it was launched in Australia, Japan, New Zealand, Singapore, Brazil and the United States right last week Operation; It is about to start management Colombia In 2026, there are plans to launch in Argentina and Mexico, wanting to enter Africa (first with South Africa) and have a policy licensed in the UAE.

There are agencies Great ambitionWith the aim of reaching 1 million customers in mid -2027, and enter more than 5 new markets by 20.

“We are progressing in the final stage of the gathering and continuing to work constructively with PRA,” a spokesman for a revolution said in an email statement. “Giving the global scale of Revlut, it is the largest and most complex union in the UK so far is an anticipated part of the process of a thorough review, and this right is more important than to fill up a specific date.”

Per its last Annual reportRevlute has said that $ 1 billion (£ 1 million) in 2021 says net profit, when the income has increased by 2% per year to $ 1 billion ($ 1.8 billion). The company also launched a part of its wealth department, Revolut X, a crypto exchange, which increased by 298% in 2024 in 2024 and stood at $ 647 million. Only from $ 158 million in 2023.