Revolut Looking to Secure UK Banking License

UK based digital only bank Revolut is now looking to secure a UK banking license with Brexit forcing the country to leave the EU; last month Revolut announced they would be shifting its payment regulatory responsibilities to Ireland and Lithuania ahead of an anticipated loss of passporting rights when the UK leaves the EU; Revolut hopes they can get the license by the end of the year, the move would allow them to hold deposits and increase their ability to lend which up until now they have done through fellow fintech LendingWorks; AltFi says the company has yet to start the formal process. Altfi

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