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The Latest Breaking News from Revolut

U.K. fintech used to be a side hustle for bored finance executives in the wake of the Global Financial Crisis. Now it’s an industry with the potential to rival the country's big banks

The 5 leading banks in the U.K. have experienced a sustained decline in market capitalization since 2008. Meanwhile, fintech has become the most valuable segment of the British tech industry.

Fortune

What Revolut’s attempt to secure a UK banking licence could mean for its current customers and for the 'unbanked'

Last year, the CEO of financial technology (fintech) company Revolut added a UK banking license to his 2022 Christmas wish list, telling startup news outlet Sifted: “I would love to have it as a Christmas present. A present for me personally and for the business.”

The Conversation

‘It’s just a matter of time’: why AI could help Europe create its own Apple or Google

Silicon Valley overshadows its transatlantic rivals. But as artificial intelligence grows – and with a global summit on it this week – some think it could offer a Euro startup the chance to become a new Google

The Guardian - UK

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Travel money: How to get the best exchange rates on your holiday currency and top ways to pay abroad

Using your usual UK bank debit card abroad could trigger some annoying fees

The Independent UK

Bank of Ireland glitch let customers withdraw money they didn’t have

‘Technical issue’ allowed transfers and withdrawals beyond customer limits and made online banking unavailable

The Guardian - UK

$33 billion startup Revolut cites ‘evolving regulatory environment’ in decision to end crypto service to U.S. customers

The decision follows the fintech firm's delisting of three tokens the SEC claimed were unregistered securities in its lawsuits against Binance and Coinbase.

Fortune

Fintech firms voice frustration as regulatory approvals plunge to fresh lows

Just seven applications were approved in the first quarter of 2023, in signs fintech firms face a near-impossible pathway to getting regulatory clearance to operate in the UK

Evening Standard

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Hackers steal millions after cracking Revolut payment systems

Before Revolut managed to plug the hole, hackers stole $20 million.

TechRadar

Revolut Launches Robo-Advisor In The US, Positions Itself As A Holistic Financial Platform‌

‌The new feature of the app gives users access to a range of investment options and automated portfolio management tools.‌

Zenger

A short history of doing sweet FA on bank innovation

It’s not just the upcoming ComCom banking inquiry; three announcements in the past month are intended to nudge NZ towards more competitive, more innovative, consumer-focussed banking system. But it’s taken far too long, and there’s a long way to go.

Newsroom.co.nz

Pocket money: how best to give your children cash

From payment cards and apps to how much, there are ways to help kids learn to manage finances

The Guardian - UK

Automation, regulation and immigration: Key themes ahead of London Tech Week

This year’s London Tech Week is set to be the biggest yet

Evening Standard

Irish woman loses €10,000 in matter of minutes in convincing Revolut fraud

The Galway woman received a link to fill out her personal details after what looked like an outstanding Electric Ireland bill

Irish Mirror

Irish woman scammed out of €10,000 in matter of minutes in Revolut fraud

The woman spoke about how devious fraudsters stole a large sum of money after trapping her in a 'clever' scam

Dublin Live

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Evening Standard

Are the wheels coming off for Silicon Roundabout? Top tech bosses are divided

Microsoft isn’t the only firm to warn the tide is turning

The Guardian - UK

Starling Bank founder steps down as CEO to avoid potential conflict of interest

Anne Boden is also a major shareholder and hopes move will shield online bank from possible concerns

Evening Standard

London’s financial dominance is under siege

City Voices: There’s a growing narrative that London is closing the door on business and our institutions are doing nothing to counter it. This vacuum is being filled by influential executive public anger.

The Guardian - UK

UK ministers ask to meet Revolut amid reports it may be refused licence

Britain’s most valuable fintech firm has criticised regulatory hurdles that it says could drive it abroad

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The Money Edit

Save £300 on your supermarket shop with cashback accounts

Banks, credit card companies and cashback sites are all offering cashback on your supermarket shop, but can you use them all to max out your savings?

Evening Standard

Revolut CFO quits for ‘personal reasons’ weeks after auditor BDO warning on accounts

The CFO of Revolut has quit the firm just weeks after its auditor said it was unable to independently verify three-quarters of the revenue in the company’s 2021 accounts.

Birmingham Post

City grandee behind £1.1bn TalkTalk takeover joins board of fintech Total Processing

Martin Gilbert co-founded Aberdeen Standard Investments and is also the chairman of Revolut

The Guardian - UK

Revolut bank’s valuation stretches credulity despite $15bn slump

It is hard to see how hopes of future growth justify the challenger bank being worth $18bn – not least as it made only £26m in 2021

The Guardian - UK

Revolut’s place as UK’s top fintech firm at risk after Schroders writedown

Asset manager suggests its stake could be worth less only 18 months after investing almost £10m

Irish Mirror

Irish Revolut customers urged to update detail after major change to accounts

In line with this change, anyone who is using Revolut for direct debits or other automatic payments from their account is being urged to update the Iban details

Dublin Live

Revolut users can win €2,500 with new car insurance promotion

The lucky winner will be announced after a draw and receive the money directly into their account

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