Marcel van Oost的动态

The licence that Storonsky said he would “love to have?.?.?. as a Christmas present” last year might not be ready by this festive season either.? Will Revolut ever get a British banking licence? While the recent resolution of Revolut’s messy share structure with its biggest investor, SoftBank, will assuage some regulatory misgivings, the FinTech must cross several more hurdles before it will be allowed to become a UK bank, according to people familiar with the situation. Banking licences are typically granted within 12 months of application, the UK regulators’ guidance says. Revolut’s application, which has been on regulators’ desks since January 2021, was always going to be a longer journey, former insiders and experts told the FT. With close to 8mn customers in the UK, Revolut is far bigger than any of the 36 new lenders that the Bank of England’s Prudential Regulation Authority and Financial Conduct Authority have jointly approved since 2013. Revolut’s application has been hindered by many factors. After being forced to issue qualified and late accounts for 2021, Revolut recently admitted to a delay to its 2022 accounts. Revolut’s issues have not been limited to its accounts. In early 2022, a flaw in its payment system meant US criminals could steal more than $20mn. In another recent case, the fintech allegedly allowed as much as ￡1.7mn to be paid to accounts that had been red-flagged by the UK’s National Crime Agency. Every bank has cases that slip through the gaps. Gavin Stewart, a former FCA official who is now a regulatory consultant, said regulators generally take a tough approach to banks during application processes because “once they get a licence, it’s much harder to take it away”. I highly recommend reading the complete Financial Times source article for more info: https://lnkd.in/eHXEywzZ ?Do you think Storonsky will get his favored Christmas present this year? Find this helpful? [ ???????????? ] Anything to add about this subject? [ ?????????????? ???? ?????????????? ] Nice story, Marcel. Next! [ ???????? ] #neobank #revolut #banking #bankingindustry #digitalbanking #challengerbank #bankingapp #fintech #financialtechnology #fintechindustry #fintechnews?