Revolut Achieves UK Banking License, Expanding Services For 13 Million Customers

Revolut Gains Regulatory Approval
The Bank of England’s Prudential Regulation Authority (PRA) granted Revolut the license, marking a turning point for the company. Having applied in 2021, Revolut can now expand beyond digital payments and savings, positioning itself as a mainstream banking player.

Expanding Services For Millions
Revolut already serves over 13 million UK customers. With the new license, it will gradually launch current accounts and lending products, ensuring a smooth rollout. Customers will also benefit from deposit protections, aligning Revolut with traditional banks in terms of security.

Competitive Edge In UK Banking
The license enables Revolut to compete directly with established banks. Its digital-first model, absence of physical branches, and emphasis on user-friendly technology could reshape customer expectations in both retail and business banking.

Key Highlights

• Revolut secures full UK banking license after applying in 2021
• Approval granted by Bank of England’s PRA
• Company valued at $75 billion in 2025, Europe’s most valuable startup
• Plans to offer current accounts, lending, and deposit protections
• 13 million UK customers set to benefit from expanded services

This achievement signals Revolut’s evolution from fintech disruptor to fully-fledged banking institution, reshaping the UK financial landscape.

Sources: CNBC, City A.M., The Independent, Tech.eu, Global Banking & Finance Review