Revolut, one of the UK’s leading fintech platforms, is reportedly considering the acquisition of a US bank in order to fast-track its entry into the American market, according to the Financial Times.
The company is evaluating the purchase of a federally chartered bank, which would allow it to offer lending services and other financial products in the US without going through the lengthy process of securing a banking license from scratch.
Sources cited in the report indicate that Revolut is also weighing the option of applying for a license directly. However, acquiring an existing institution could significantly accelerate the company’s expansion plans in the United States.