Fintech giant Revolut has finally secured a full banking licence in the UK, marking a significant milestone that will allow it to operate as a fully-fledged bank and expand its offerings to millions of customers.
The company confirmed it has received the all-clear from the Bank of England’s Prudential Regulation Authority (PRA), enabling it to provide accounts for both retail and business clients. Current accounts will begin rolling out to a select number of new customers within days, with a gradual expansion planned over the coming weeks to ensure a "smooth user experience".
