Revolut has secured Australia’s first unrestricted fintech bank licence, expanding from FX app to full bank with deposits, savings and credit products.

Europe’s largest private financial technology company will become a bank in Australia after receiving approval from the regulator.

Revolut establishes its first banking entity in the Asia-Pacific after receiving regulatory approval in Australia.

Revolut has secured Australia’s first unrestricted fintech bank licence, expanding from FX app to full bank with deposits, savings and credit products.

UK fintech to target credit and savings customers after winning full banking licence

A hugely popular bank used by 75 million people has been granted a banking license in Australia — posing a massive challenge to the dominance of the big four.