Fintech banking startup Revolut has finally secured a full European banking license, after applying for authorisation over twelve months ago in Lithuania.
The banking app turned bank has unveiled its plans to provide current accounts to customers across Europe on the back of the decision, along with future efforts in developing its own consumer lending product.
The startup will launch with the license in smaller European countries at the beginning of next year, with the intention of eventually passporting the license to the UK and other markets in three to six months.
However, it was not made clear how this would work should financial laws surrounding passporting be amended as part of Brexit.
Latest News
Is 2025 the year of the remortgage?
An estimated 1.8 million fixed rate mortgage deals are due to expire in 2025, 400,000 more than in 2024. This surge in remortgaging presents a critical opportunity for mortgage brokers to offer essential advice and financial support to homeowners across the UK, ensuring they transition smoothly to new deals amid stabilising interest rates and heightened affordability checks.
The future of the bridging industry and the Autumn Budget
MoneyAge content editor, Dan McGrath, is joined by head of marketing at Black & White Bridging, Matt Horton, to discuss the bridging industry, the impact of the Autumn Budget and what the future holds for the sector.
The UK housing market in 2024
The performance of the UK housing market in 2024 has largely exceeded many people's expectations, although challenges remain for first-time buyers due to house prices increasing and a testing rental market for many. Regional disparities, such as the North-South divide, also continue to influence housing accessibility and affordability for many buyers in pockets of the country.
© 2019 Perspective Publishing Privacy & Cookies
Recent Stories