Revolut Wins Colombia Bank Licence, Seeks Swiss Approval

London-based fintech Revolut has been expanding beyond its roots in payments into fully regulated banking, with Latin America central to a broader push in cross-border money management. Colombia gives the group its sixth banking licence worldwide, following approvals in the UK, France, Australia, Lithuania and Mexico. The market matters because remittances and access to digital financial services remain key competitive battlegrounds, while Revolut brings a global customer base of more than 80 million.

Revolut said on Sept. 15, 2026, that it received a licence to operate, or licencia de funcionamiento, from Colombia’s Superintendencia Financiera de Colombia (SFC), completing the final regulatory step before launch. The company plans to begin operations in 2027 and invest an additional $62 million in digital banking infrastructure and financial technology, doubling its initial commitment. Nearly 200,000 Colombians have joined the waitlist, and deposits will be protected under the local Fogafín insurance framework.

Revolut is expanding its European banking footprint by establishing local branches, a strategy that can deepen customer relationships and support deposits, payments and other financial services in individual markets. The Finland move underscores the digital bank’s effort to build a broader regional operating network as fintech companies intensify competition with established European lenders.

Revolut has formally applied for approval to establish a branch in Finland, marking its latest step to widen its presence across Europe. The application comes two weeks after the company received permission to open a branch in Greece, highlighting the accelerating pace of its regional push. Revolut has not disclosed a timetable for Finnish regulators to review or decide on the application.

Revolut has served European customers mainly through Lithuania-based Revolut Bank UAB, using the EU passporting regime to operate across the bloc since 2018. A French charter was not required to keep serving those markets, but it gives the fintech a second EU banking hub closer to its largest Western European customer base and local regulators. The dual-hub structure is intended to speed product localisation and support Revolut’s shift from a cross-border finance app into a major retail bank.

On Aug. 10, 2026, Revolut said Revolut Bank S.A. had won a full banking licence after a joint review by France’s Autorité de Contrôle Prudentiel et de Résolution and the European Central Bank; the ECB Governing Council formally adopted the decision. The bank will start with France before expanding in phases to Germany, Ireland, Italy, Portugal and Spain. Revolut serves about 30 million Western European customers, including nearly 8 million added in 2025, and has committed more than €1 billion to the region, more than 600 hires and a Paris headquarters opening in 2027.

Revolut entered Australia about six years ago and has built a local base of more than 1 million retail customers and several thousand business clients. A full banking licence allows the UK fintech, which serves more than 75 million customers globally, to expand beyond payments and foreign exchange into regulated deposits, interest-bearing savings and credit. Australia is its first licensed banking operation in Asia-Pacific, extending a banking footprint that already includes the UK, European Economic Area and Mexico.

Revolut said on July 21, 2026, that the Australian Prudential Regulation Authority had granted it a full, unrestricted Authorised Deposit-taking Institution licence, enabling the immediate launch of Revolut Bank Australia. Existing Australian customers will be transferred automatically, while new users will be onboarded directly to the bank. Eligible deposits are covered by the government-backed Financial Claims Scheme for up to A$250,000 per account holder. Revolut also committed to investing nearly A$400 million in Australia over five years, funding product development, growth and its local workforce.

UK fintech company Revolut has more than 70 million customers worldwide and operations in Brazil, Mexico, Colombia and Argentina. Its entry into Peru is part of a plan to expand into 100 markets, with the goal of becoming the country’s first fully licensed digital-only bank.

Peru’s Superintendency of Banking, Insurance and Private Pension Fund Administrators (SBS) issued Resolution No. 00949-2026 on March 30, 2026, and published it on April 1, authorizing the incorporation of Revolut Bank Perú S.A. The approval covers only its organization, and no investment amount was disclosed. The bank must still complete its incorporation, pass regulatory inspections and obtain an operating license before it can formally open for business.

Founded in London in 2015, Revolut previously operated in the UK mainly as an electronic money institution, with customer funds safeguarded in segregated accounts rather than covered by deposit insurance. With full banking status, Revolut Bank UK Ltd can offer current accounts, savings and credit services under the joint supervision of the Prudential Regulation Authority (PRA) and the Financial Conduct Authority (FCA).

Revolut applied for the license in January 2021 and received restricted banking authorization in July 2024, entering a mobilization period. The PRA lifted the restrictions on March 11, 2026, allowing the company to formally serve about 13 million UK customers as a bank. Eligible bank deposits are now protected by the Financial Services Compensation Scheme (FSCS) up to £120,000 per person, but cryptocurrencies, stocks and commodities are not covered.

London-based Revolut is pursuing a US national bank charter as part of its ambition to build a global digital banking platform. A charter overseen by the Office of the Comptroller of the Currency would reduce its reliance on partner banks, potentially provide direct access to federal payment infrastructure and support lending alongside FDIC-insured deposit accounts. The move is central to Revolut’s plan to compete more directly with established US banks.

Revolut has cleared a major regulatory hurdle by securing conditional OCC approval for its proposed US national bank, but it has not yet received final authority to open. The approval places limits on four products and requires the fintech to satisfy conditions covering capital, governance and operating readiness. Revolut must also obtain relevant approval from the Federal Deposit Insurance Corporation before launching insured banking services in the United States.