Revolut Nears UK Banking License, Eyes US Expansion Amidst AI-Driven Job Shifts
Revolut, the UK-based financial technology giant, is on the cusp of securing a long-sought UK banking license, bolstered by considerably upgraded facts systems now comparable to those of Goldman Sachs, according to a recent interview with a key board member. The company, valued at $75 billion, is also preparing for potential US expansion and grappling with the transformative impact of artificial intelligence on its workforce.
Banking License Within Reach
A former Goldman Sachs executive and longtime Revolut board member indicated optimism regarding the pending banking license. “It’s hard to second guess our regulatory friends,” he stated, “But I don’t hear anything that makes me think [the licence] won’t come.” This positive outlook comes after years of navigating regulatory hurdles and addressing concerns about the fintech’s operational infrastructure.
