RE: Could There be Link Up With Revolut25 Apr 2024 13:13
I think it is pretty clear that Revolut do want a banking licence and it is regulatory concerns that have delayed them doing so. They have made strides towards it such as changes to their management structure, but more needs to be done.
Don't forget the hoops that mode had to jump through to get theirs, particularly giving up their reward scheme which ultimately made them less attractive for users and pretty much stopped the good progress they were making.
Achieving the banking licence probably cost mode dear at the stage they were at, but Revolut are a much bigger proposition and likely need one for growth in the lucrative UK market and the gains likely outweigh any consolation for them doing so.
Imo