Revolut has secured a full banking licence in the United Kingdom after a lengthy regulatory process, marking a major milestone for the fast-growing fintech company and strengthening its position in the country’s financial sector.

The approval from the Bank of England’s Prudential Regulation Authority allows the London-based firm to operate as a fully licensed bank in its home market, opening the door to services such as loans, mortgages, credit cards, overdrafts and savings products.

The authorisation follows several years of scrutiny and regulatory reviews as authorities examined the company’s operations, controls and risk management systems.

Revolut had previously been granted a restricted banking licence in twenty twenty-four, which placed the company in a “mobilisation” phase while it built the infrastructure required to meet full banking standards.

During that period, its activities were limited while regulators assessed whether the fintech could safely transition into a fully operational bank.

The final approval now allows Revolut to begin expanding banking services to customers across the United Kingdom.

Deposits held with the company will also fall under the country’s Financial Services Compensation Scheme, which protects customer funds up to one hundred and twenty thousand pounds if a bank fails.

Founded in twenty fifteen by entrepreneurs Nik Storonsky and Vlad Yatsenko, Revolut began as a digital foreign-exchange and payments platform before expanding rapidly into a broad financial ecosystem offering multi-currency accounts, stock trading, cryptocurrency services and budgeting tools.

The company now serves more than seventy million customers worldwide and has become one of Europe’s most valuable technology start-ups.

The ability to operate as a fully licensed bank is expected to accelerate Revolut’s expansion in the United Kingdom, where the company already counts more than thirteen million users.

Executives have said the licence will allow them to compete more directly with established lenders by introducing credit products and other traditional banking services.

The authorisation is also strategically important for the company’s international ambitions.

Regulators and investors often view approval in a major financial centre such as the United Kingdom as a signal that a firm meets rigorous compliance and governance standards.

Revolut has indicated that it plans significant investment in its home market in the coming years, including billions of pounds aimed at expanding services and creating new jobs.

The company is also pursuing further regulatory approvals in other countries as it seeks to build what its leadership describes as a truly global digital bank.