Revolut introduces an Australian business account and seeks a banking license

Date:

Share post:

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.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

spot_img

Related articles

Best Practices for FinTech Compliance

In financial tech (FinTech), following rules is important. FinTech firms operate in a fast-changing world. They must know...

UK Businesses Modernising to Enhance Security and Counter Fraudulent Activity

American Express today released new research revealing that UK businesses are investing in modernising their payment systems to...

LiquidityBook Redefines Trading Technology Again with Release of LBX PMS 2.0; Accelerates Multi-Asset Capabilities via Acquisition of Messer FS

LiquidityBook, a leading provider of cloud-native buy- and sell-side trading solutions, announced today the general availability of LBX...

PayPal, Venmo Credit and Debit Cards Are Now Available to Add in Apple Wallet

PayPal Holdings Inc. announces that customers now will get the option to add their eligible PayPal and Venmo...