Revolut Expands Investment Services in the UK

Digital bank Revolut has announced that its trading division, Revolut Trading Ltd, has received an extension of permissions from the UK's Financial Conduct Authority (FCA) to offer more comprehensive investment and wealth management services in the UK market. According to Odaily, the newly approved Variation of Permissions (VoP) allows Revolut to manage investment portfolios and participate in certain transactions as a principal. This enables the platform to provide leveraged investment products, professionally managed portfolios, and customized wealth management services for high-net-worth individuals, all integrated into its mobile app alongside everyday banking and payment tools. Revolut also plans to introduce AI-driven portfolio recommendation tools as part of its ongoing transformation into a 'one-stop financial platform.' Earlier this year, Revolut obtained a full banking license in the UK. Analysts suggest that the FCA's approval indicates Revolut's growing maturity as a regulated financial institution and highlights the increasing competition between fintech companies and traditional banks and wealth management firms.