Barclays CEO CS Venkatakrishnan stated that fintech company Revolut benefits from not holding a UK banking license.

This exemption allows Revolut to operate without the same regulatory obligations that traditional banks face, providing it with competitive advantages in the financial services market.

Venkatakrishnan made these comments during a recent Financial Times summit, highlighting the difference in operational constraints between established banks and emerging fintech firms.

Source: biztoc.com