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Revolut’s UK Banking License Delayed Amid Regulatory Scrutiny Over Global Risk Controls

Revolut’s UK Banking License Delayed Amid Regulatory Scrutiny Over Global Risk Controls

Author:

Global Cryptocurrency

Published:

2025-10-15 13:46:01

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BTCCSquare news:

Revolut's path to a full UK banking license faces hurdles as regulators question whether the fintech's risk management systems can keep pace with its international expansion. The Prudential Regulation Authority is scrutinizing controls across domestic and overseas operations before granting unrestricted status, which WOULD enable customer transfers and credit product offerings.

CEO Nik Storonsky prioritized securing the license in September, with executives anticipating 2024 approval. However, Bank of England officials demand concrete commitments on infrastructure upgrades to match Revolut's growth trajectory. The company maintains it's progressing through final mobilization stages, acknowledging the complexity of regulatory compliance.

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