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Bank of England orders review of Revolut product approvals, FT reports - Finance news and analysis from Global Banking & Finance Review
Finance

Bank of England orders review of Revolut product approvals, FT reports

Published by Global Banking & Finance Review

Posted on October 27, 2026

1 min read

· Last updated: October 27, 2026

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Bank of England Probes Revolut Product Approvals After UK Banking Licence

Regulatory Scrutiny of Revolut’s Expansion

Review of Product Approval Processes

Oct 27 (Reuters) - The Bank of England has ordered a review of Revolut’s product approval processes, probing the fintech's internal controls as it begins expanding into areas such as personal loans following its newly acquired UK banking licence, the Financial Times reported on Tuesday, citing sources.

Verification of Reports

Reuters could not immediately verify the report. 

Reporting and Editing Credits

(Preetika Parashuraman in Bengaluru; Editing by Sonia Cheema)

Key Takeaways

  • UK regulator, via the Bank of England and PRA, is scrutinizing Revolut’s product governance amid its move into personal lending (uk.marketscreener.com)
  • Revolut recently launched unsecured personal loans in the UK, offering loans from £2,000 to £25,000 with APRs between 6.9%–29.3% (live.euronext.com)
  • This regulatory action echoes earlier European concerns: in mid‑2026 the ECB ordered a third-party review of Revolut’s European product approval processes to address deficiencies (irishtimes.com)

References

Frequently Asked Questions

Why is the Bank of England reviewing Revolut’s product approvals?
The Bank of England is reviewing Revolut's product approval processes to probe the fintech's internal controls as it expands its offerings after obtaining a UK banking licence.
What products is Revolut planning to offer after receiving a UK banking licence?
Revolut is beginning to expand into areas such as personal loans following its newly acquired UK banking licence.
Which news outlet first reported the Bank of England's review of Revolut?
The Financial Times first reported the Bank of England's review of Revolut's product approval processes.
Has the Reuters news agency verified the Bank of England's review of Revolut?
Reuters stated it could not immediately verify the report about the Bank of England's review of Revolut.

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