Regulatory hurdles delay Revolut’s UK banking licence-report

Revolut is facing delays in securing a complete UK banking licence due to regulatory concerns about its risk management capabilities amidst its global expansion, reported The Financial Times (FT). According to familiar sources, the officials of the Bank of England “have sought commitments” from Revolut to enhance its risk management infrastructure in line with its plans for international expansion. The company is in the midst of a "mobilisation phase" after being granted a conditional UK banking licence ...