Revolut gets full UK banking licence after years-long wait

Revolut has received regulatory approval to launch a British bank, allowing it to compete head-to-head with high street lenders in areas such as current accounts and consumer lending. Revolut ​said in a statement on Wednesday that the Bank of England's Prudential Regulation Authority had allowed it to end its "mobilisation" phase, which had lasted for longer than the usual 12-month limit.