Analysis, Prudential

Revolut: when is a bank not a bank?

By Frances Coppola
Image: Getty Images

Challenger fintech Revolut has sought a UK banking licence for several years. But becoming a full-service bank would mean pivoting away from a business model oriented towards deposit-taking and payment services towards one dominated by lending. 

Naturally, this would mean accepting tougher regulatory standards for capital and governance ...

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