Revolut Applies for Banking Licence in Colombia

Revolut is applying for a banking licence in Colombia, extending its Latin American ambitions with a push into one of the region's largest economies. The licence application would enable Revolut to offer full banking services to Colombian consumers and businesses.

Colombia represents a strategic market for Revolut, with a large population, growing smartphone penetration and an increasingly digital-savvy consumer base. The country's fintech ecosystem has been expanding rapidly with regulatory support.

The Colombian licence application is part of Revolut's broader strategy of obtaining local banking licences in key markets, allowing it to offer deposit accounts, lending and other regulated financial products directly rather than through partner arrangements.