Nik Storonsky, founder and chief executive officer, Revolut

Challenger bank Revolut, has decided to set up a dedicated inhouse Global Licensing Team to aid its international expansion. It will initially focused on acquiring licences in the United Kingdom and the United States.

“We’re building a single, global team at Revolut that delivers fast, effective and efficient licensing in all current markets, as well as new ones we’re expanding to including the US, Canada, India, Japan, Australia, Singapore, Hong Kong,” the fintech said.

The Global Licensing Machine will liaison with the decision makers, partners and regulators, through to the execution of specific deliverables required to obtain each licence. It will also deliver the end-to-end licensing process covering the fintech’s entire product range, including E-Money, Credit, Trading and Acquiring.

The team will comprise of a Global Head of Licence Operations; Capital, Liquidity and Financial Modelling Manager; Licence Business Planning Manager and Licence Project Managers.

“Building this team will be no easy task. We’re ideally looking for people who have previous experience in securing either a banking or trading licence, and they should be quite technical and be comfortable working in a very fast-paced environment”, said Nik Storonsky, founder & chief executive officer, Revolut.

On Brexit, Storonsky said that the fintech has secured an EMI licence in both the UK and Europe, and the next step is to secure a UK banking licence. Revolut received the European banking licence last year.

by Parnika Sokhi
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