Fintech firm, Revolut, has unveiled his plan to build a global licensing team that will be responsible for securing banking, trading and credit licenses in new and existing markets, starting with the United Kingdom and the United States. The move will be a first in the fintech industry, as the high growth scaleup looks to set a precedent with regards to acquiring new licenses around the world.
The new team will be responsible for delivering the entire end to end licensing process – from liaison with decision-makers, partners and regulators, through to the execution of specific deliverables required to obtain each license. This will enable Revolut to move forward with the next phase of its global expansion plans as it aims to become a global enterprise.
The initial stage of hiring will focus on building a high-functioning licensing team. The roles that make up the experienced core team will include a Capital, Liquidity and Financial Modelling Manager, a Licence Business Planning Manager, a Licence Project Manager for Banking, a Licence Project Manager for Trading and a Global Head of Licence Operations.
Having recently secured a European banking license, Revolut is pushing ahead in its mission to become the Amazon of banking. Yet with the UK due to leave the EU on 29th March, the London-based company is keeping an eye on any Brexit developments which could affect the passporting of its EU license.
From the talent side, we’re not seeing any of signs of people not wanting to relocate to London, and we’re proactively working with government ministers on lobbying for a specialised Visa for high calibre software engineers and data scientists, so that it’ll be far easier for this kind of talent to get into the country. If the UK is to remain the tech capital of Europe, we need to make it easy and fast for the best talent to come in.
Nik Storonsky, Founder & CEO of Revolut