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BANK OF ENGLAND ORDERS INDEPENDENT REVIEW OF REVOLUT’S PRODUCT APPROVAL SYSTEMS
The Bank of England’s Prudential Regulation Authority has reportedly ordered an independent review of Revolut’s product-approval systems under Section 166 of the Financial Services and Markets Act. The Financial Times says the examination will assess whether the fintech’s internal controls are strong enough to support its rapid expansion into personal lending and other banking services. Revolut became a fully operational UK bank in March 2026 and this week began offering unsecured personal loans of £2,000 to £25,000. The review is a supervisory examination rather than a finding of wrongdoing, and no UK enforcement penalty or licence restriction has been announced.
BigV•1h ago•1 min read