Revolut under scrutiny: London has its product launches scrutinized

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This procedure is based on article 166 of the Financial Services and Markets Act, which allows the supervisor to request the intervention of external experts. Their mission consists of examining certain aspects of an establishment's activity and submitting a report to the regulator. The company concerned bears the costs of the examination.

The PRA presents this tool as a means of diagnosing risks, monitoring their evolution and evaluating control systems. Such a review therefore does not constitute, in itself, a sanction or proof of an infraction. It may nevertheless lead the supervisor to request corrections, depending on the experts' conclusions.

At Revolut, review is about validating new products. The issue therefore concerns the mechanisms which govern their launch and the prior assessment of risks.

This surveillance accompanies a significant evolution of the British status of the group. After an application filed in 2021, Revolut obtained a banking authorization with restrictions in July 2024. This first decision opened a mobilization phase, intended to prepare its banking operations.

On 11 March 2026, the company announced that the PRA had lifted these restrictions and authorized the launch of Revolut Bank UK Ltd. The transfer of customers to this entity must be done gradually. Obtaining this authorization does not, however, end the supervision of banking activities.

Revolut is now developing its British credit offering. The group announced unsecured personal loans of between 2,000 and 25,000 pounds on October 26.

This diversification is based on sustained growth in its results. According to its annual report, Revolut recorded revenue of 4.5 billion pounds in 2025 (5.3 billion euros), compared to 3.1 billion in 2024. Its profit before tax reached 1.7 billion pounds (around 2 billion euros), an increase of 57%. Customer balances, including those held with partner institutions, increased by 66% to £50.2 billion.

Banking expansion therefore adds new requirements to a model built on the multiplication of services. For Revolut, the strength of approval procedures is becoming as important as the speed of launches. Commercial growth and profitability alone are not enough to demonstrate risk control.

An editorial article. Le Journal du Coin, the first French-speaking news media on cryptocurrency, Bitcoin, and blockchain protocols.

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Machine-translated from French