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Revolut has been granted a full UK banking licence after years of regulatory waiting, allowing the fintech giant to offer current accounts, lending, and a wider range of financial services.
The Bank of England’s Prudential Regulation Authority (PRA) gave the green light following Revolut’s restricted licence in 2024, paving the way for a major expansion of services to its 13 million UK customers.
Current accounts will roll out to new users in the coming days, with a gradual expansion to ensure a smooth experience. Plans include retail and business banking products.
Nik Storonsky, co-founder and chief executive of Revolut, said: “Launching our UK bank has been a long-term strategic priority for Revolut and marks a significant moment in our journey.
“The UK is our home market and central to our growth.
“We look forward to introducing a full suite of banking services to our millions of UK customers, bringing the same innovative experience we already provide across the rest of Europe.”
Francesca Carlesi, UK chief executive at Revolut, said: “Securing this licence lays the foundation for our next chapter: expanding into a broader suite of products, including credit, to sit alongside the innovative services our customers already rely on every day.”
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