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The Latest Breaking News from Revolut

Fintech firm Revolut hit by £25m loss after hiring spree

Firm gave near 80% pay increase to founder despite uncertainty over approval of UK banking licence

The Guardian - UK

Revolut swings to £25 million loss as auditor says IT issues 'resolved'

The rosy audit opinion gets the London fintech a step closer to securing a banking licence

Evening Standard

Apex Fintech Solutions will try to go public again

The custody and clearing firm has confidentially filed its draft registration statement with the SEC.

Fortune

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Revolut mulls auditor switch as banking licence decision looms

London fintech giant Revolut has been considering switching auditors after its last annual accounts were only signed off with a health warning, the Standard understands.

Evening Standard

Revolut hikes fees and widens access to apps from ClassPass to Tinder Gold

The financial platform said it is the first time it has changed the prices of some plans since launching in the UK five years ago.

The Independent UK

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

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‘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

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

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

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Newsroom.co.nz

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.

The Guardian - UK

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

Evening Standard

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

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

Irish Mirror

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

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Dublin Live

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

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

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.

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