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The Guardian - UK
The Guardian - UK
Business
Simon Goodley and agencies

EXPLAINED: British fintech revolut gets full banking licence - The Real Truth

Revolut fintech United Kingdom
Nikolay Storonsky is Revolut’s co-founder and chief executive.
Nik Storonsky, co-founder and chief executive: ‘Launching our UK bank has been a long-term strategic priority for Revolut.’ Photograph: Pedro Nunes/Reuters

Revolut can finally launch as a fully fledged UK bank after a five-year wait for regulatory approval.

The fintech said it had received the all-clear from the Prudential Regulation Authority (PRA) for a full banking licence, allowing it to offer accounts for retail and business customers.

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