UK-based fintech Revolut has been issued a licence by the European Central Bank, which enables it to provide traditional banking services, such as overdrafts, current accounts, and consumer and business lending. The company plans to expand its services across the UK, France, Germany and Poland. It is looking to enter the US market in March, in addition to further global locations. Revolut also plans to apply for a UK banking licence, partly due to Brexit uncertainty.
UK-based fintech Revolut has been issued a licence by the European Central Bank, which enables it to provide traditional banking services, such as overdrafts, current accounts, and consumer and business lending. The company plans to expand its services across the UK, France, Germany and Poland. It is looking to enter the US market in spring 2019, in addition to further global locations. Revolut also plans to apply for a UK banking licence, partly due to Brexit uncertainty.