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Investing.com -- London-based digital finance firm Revolut is facing delays in obtaining its full UK banking licence as British regulators express concerns about its risk management capabilities amid rapid international expansion.
The Financial Times reported on Tuesday that Bank of England officials are seeking assurances from Revolut that it will strengthen its risk management infrastructure to match its ambitious global growth plans.
Revolut received a UK banking licence with restrictions in 2024, marking progress toward its eventual goal of listing on the stock market. However, the Prudential Regulation Authority, Britain’s banking regulator, is now closely examining the company’s control systems both domestically and internationally.
Regulators are specifically evaluating whether Revolut’s risk controls can keep pace with its overseas growth before granting the firm permission to operate as a fully fledged bank in the UK.
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