Revolut applies for NZ banking licence

(Image: NZME)

Fri, 06 Dec 2024

Financial technology firm Revolut is eyeing a New Zealand expansion, applying to the Reserve Bank to become a registered bank.The one-stop-shop money app, popular in Europe and the United Kingdom, says a banking licence would enable it to offer interest-bearing savings products, credit cards, consumer loans and mortgages.The requirements the London-based firm would need to meet to get the coveted licence would also give Revolut legitimacy to support its growth.“It brings with it an element of trust with consumers,” Revolut chie...

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