Revolut continues to navigate the complexities of obtaining a banking license in the United Kingdom. The digital banking services provider has encountered various challenges and delays in its regulatory journey, but remains committed to close collaboration with regulators and maintains hope for eventual license approval, the...
For believers in pathetic fallacy, the thunderclouds hanging over London today are an ominous sign for Liz Truss, who has officially been handed the reins of government by the outgoing Prime Minister Boris Johnson. In his final speech outside 10 Downing Street on Tuesday (Sept....
Metro Bank is dealing with the fallout from the revelation that it misclassified a large number of commercial loans, with many predicting the resignation of some of the financial institution’s senior executives. According to Financial Times (FT), investors, industry figures and regulatory experts have said senior executives...
The Prudential Regulation Authority (PRA), the financial regulator overseeing the United Kingdom, has directed insurers to conduct “stress tests” tied to cyber attacks, the Financial Times reports. In the wake of ransomware attacks as far reaching and well-publicized as WannaCry, the need for cyber attack...
July 25, 2024
After a three-year wait, Revolut has secured a banking license in its home country. The British FinTech announced Thursday (July 25) that it had been granted the license, with restrictions from the country’s Prudential Regulation Authority (PRA), an arm of the Bank of England that oversees the U.K.’s banking industry. From here, Revolut enters what […]
October 22, 2023
Revolut continues to navigate the complexities of obtaining a banking license in the United Kingdom. The digital banking services provider has encountered various challenges and delays in its regulatory journey, but...
February 01, 2019
Metro Bank is dealing with the fallout from the revelation that it misclassified a large number of commercial loans, with many predicting the resignation of some of the financial institution’s senior...
July 06, 2017
The Prudential Regulation Authority (PRA), the financial regulator overseeing the United Kingdom, has directed insurers to conduct “stress tests” tied to cyber attacks, the Financial Times reports. In the wake...
