Revolut has submitted an application for a banking license to the U.K. Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA).
The digital bank Revolut had more app downloads in 2020 than Monzo and Starling combined.
The London based challenger Revolut has been accused of not paying promised bonuses to employees in its compliance team, sparking a dispute that contributed to a rise in frozen customer accounts, FT reported.
Revolut announced the launch of an affordable premium option called Revolut Plus for £2.99 per month.
The CEO of Revolut Nik Storonsky claims his company broke even in November, just a month after Starling's Anne Boden announced the same.
Digital bank Revolut has appointed former Citigroup executive Rebecca Macieira-Kaufmann to its US board of directors.
Revolut introduced two more features during this week. The challenger bank is shifting from mobile-only to an online model and Revolut has partnered with Modulr to let you receive your salary a day early.
With the new Open Banking function (linked accounts), Revolut customers can now link all their bank accounts at Comdirect, Commerzbank, Deutsche Bank, ING-DiBa and Sparkasse in the Revolut app.
N26's leadership bench extended with the appointment of Dr. Jan Kemper as Chief Financial Officer.
Tom Blomfield who co-founded Monzo Bank 2015, is leaving the digital bank, citing "challenges" from the pandemic, TechCrunch reported.