Revolut is Now Applying for a Banking License in Colombia

Hey FinTech Fanatic!

Revolut has officially announced its move to obtain a full banking license in Colombia.

This move places them directly in competition with over 60 financial institutions, from industry giants like Bancolombia and Banco de Bogotá to digital disruptors like Nu. And they’re not stopping there – they've appointed Diego Caicedo, a familiar face in the Colombian tech scene and co-founder of KLYM, as their Country Manager.

Caicedo shared with Forbes the unexpected beginning of his Revolut journey: a 4 AM message that he initially mistook for spam. But with a vision to reshape Colombia’s banking landscape, Revolut is diving in, emphasizing remittances, transparency, and services for the independent workforce.

Having already secured a banking license in Mexico and entered the Brazilian market last year, Revolut’s Latin American expansion seems unstoppable. It’ll be fascinating to see how they navigate Colombia's financial ecosystem. This could very well mark a new era for FintTech in the region.

Stay tuned, there’s more FinTech buzz coming your way!

Cheers,

Marcel

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