Revolut Under Scrutiny: London Examines Its Product Launches

Growth Under Surveillance. The Bank of England has requested an independent review of the approval procedures for new products from Revolut, according to the Financial Times on October 27. Its prudential authority, the PRA, reportedly ordered this review earlier in the year, around the time of obtaining the full UK banking license in March. Revolut and the Bank of England declined to comment on this information.

Key Points of This Article:

• The Bank of England surprised Revolut by ordering an external audit on the validation of its new products.

• Revolut, valued at $75 billion by the end of 2025, has seen its wealth management branch grow extraordinarily due to digital asset trading.

An Independent Review of Revolut's Internal Controls

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 is to examine certain aspects of an institution's activity and submit a report to the regulator. The company concerned bears the costs of the review.

The PRA presents this tool as a means to diagnose risks, track their evolution, and assess control mechanisms. Such a review does not, by itself, constitute a sanction or proof of a violation. However, it may lead the supervisor to request corrections, depending on the experts' conclusions.

At Revolut, the review concerns the validation of new products. The stakes thus revolve around the mechanisms that govern their launch and the prior assessment of risks.

This scrutiny accompanies a significant evolution in the group's UK status. After a request submitted in 2021, Revolut obtained a banking license with restrictions in July 2024. This initial decision opened a mobilization phase aimed at preparing its banking operations.

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

The UK regulation is keeping an eye on Revolut according to the FT -- Source: Account X

A Banking Expansion Driven by Rising Results

Revolut is now expanding its UK credit offering. The group announced on October 26 personal unsecured loans ranging from £2,000 to £25,000.

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

At the same time, Reuters places its private valuation at $115 billion in an analysis published in early October. The group maintains a diversified model, combining payments, subscriptions, investments, and financial services. However, its loan portfolio only reached £2.2 billion by the end of 2025: credit still represents a relatively limited activity in light of its ambitions.

Thus, the banking expansion adds new requirements to a model built on multiplying services. For Revolut, the robustness of approval procedures becomes as important as the speed of launches. Business growth and profitability alone are not sufficient to demonstrate risk management.

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