Revolut introduces an Australian business account and seeks a banking license

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Revolut, a FinTech industry brand, has announced the launch of multi-currency business accounts in Australia and its intent to apply for a banking license there.

Obtaining a UK license could determine whether the business receives an Australian one. CEO Nik Storonsky stated earlier this month that “extra cautious” regulators who have been alarmed by recent events at institutions like Silicon Valley Bank and Credit Suisse are holding up the fintech’s two-year effort to obtain the UK license.

According to the FT, which relied on people with knowledge of the approval procedure, progress on the application has recently slowed down or almost stopped.

Read More: Revolut launches Oz business account; wants banking licence

TalkFintech Bureau
TalkFintech Bureauhttps://talkfintech.com
TalkFintech is focused on the latest financial sector technologies and tools- covering all tech used by banks, investors, insurance, and wealth management sectors- and also conversations on retail financial management tools.

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