Revolut finally receives UK banking licence after three-year wait

Move paves way for fintech firm to hold customers’ deposits and offer own-branded loans, including mortgages

Revolut has secured a UK banking licence – with “restrictions” – more than three years after Britain’s most valuable fintech firm lodged its application with regulators.

It is a milestone for the company, though it may still be some time before it can hold its customers’ deposits.