UK Delays Revolut Banking License Over Risk Issues
UK is delaying Revolut’s banking license over risk management concerns amid its rapid global expansion.
Matilda
UK Delays Revolut Banking License Over Risk Issues
UK Is Delaying Revolut’s Banking License Over Risk Management Concerns Revolut’s dream of becoming a fully licensed bank in its home market faces yet another setback. UK is delaying Revolut’s banking license over risk management concerns , raising new questions about the fintech giant’s ability to balance fast growth with compliance stability. Image Credits:Revolut Central Bank Pressures Revolut To Strengthen Risk Systems According to the Financial Times , the Bank of England has asked Revolut to reinforce its risk management framework before it can be granted a full banking license. Regulators worry that the company’s current systems might not be robust enough to handle the demands of its rapidly expanding international operations. The Prudential Regulation Authority (PRA) is also reportedly reviewing Revolut’s internal controls, both in the U.K. and overseas, to ensure they meet the country’s strict regulatory standards. Revolut Still Stuck In Mobilization Phase Revolut was granted initial a…
