Supervisory authorities have implemented specific regulatory measures targeting Revolut, aiming to limit the bank’s capacity to introduce new services across the European Economic Area (EEA). As a result, the company’s banking branch operating in Lithuania has been temporarily prohibited from launching any new products. While Revolut retains the ability to continue providing its existing product suite, the introduction of any novel services remains suspended until the supervisory bodies are satisfied that the company’s internal infrastructure is robust enough to support increased operational loads.
According to reports from The Financial Times, the European supervisory authorities mandated that the non-banking entity, which is headquartered in London, undertake a fundamental restructuring of its product approval workflows. Furthermore, the company must first identify and rectify deficiencies within its core governance frameworks, specifically concerning management oversight, risk management protocols, and compliance structures. These regulatory directives underscore a deep focus on operational integrity.
Beyond process restructuring, the authorities have also required that Revolut establish stringent internal controls to guarantee that any future products are subjected to official approval by qualified and designated personnel. These comprehensive measures are designed to enhance systemic stability and ensure that the company’s expansion plans are underpinned by verifiable internal resilience and governance standards.
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Supervisory authorities have implemented specific regulatory measures targeting Revolut, aiming to limit the bank’s capacity to introduce new services across the European Economic Area (EEA). As a res
What specific services or expansion areas are the supervisory authorities concerned about with Revolut?