Revolut has secured a banking licence in Colombia, marking another step in its international expansion strategy. The licence will allow the fintech to deepen its presence in the Colombian market and operate with greater banking capabilities. At the same time, Revolut has applied for a banking licence in Switzerland, extending its regulatory push into another major financial market. The moves highlight Revolut’s continued shift from a fintech app toward a more fully regulated banking platform. Its expansion across multiple jurisdictions could broaden the range of banking, payments and financial services it can offer customers. The latest licences also come as Revolut continues building its presence across both emerging and established financial markets.
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Banking on Banks 2026
Europe’s financial services sector is operating in one of the most challenging and volatile environments in recent memory.
Ongoing geopolitical instability, including the conflict in the Middle East, persistent inflation, spiraling energy bills, rising borrowing costs and the increased threat – and sophistication – of fraud are all impacting simultaneously on consumers and businesses across the continent.
These pressures have manifested into tax increases and base rate rises in many countries, with financial markets now expecting the European Central Bank (ECB) to hike interest rates by at least 50 basis points by the end of this year in a further hit to borrowers.
Since 2022, CRIF’s Banking on Banks series has tracked consumer pain points and evolving expectations, as well as how the financial services industry is responding to their changing needs.
The second report, which will be published later this year, will drill down into specific factors that vary across consumer and business services – with a focus on how bringing business-related services closer in speed and quality to consumer services would support economic growth in Europe at this difficult time.
CRIF’s findings reveal that while trust in financial providers broadly remains, confidence in delivery is fragile amidst ongoing economic shocks. By exploring the critical issues impacting Europe’s financial services sector and those it serves, this report highlights the challenges and opportunities facing forward-looking providers.
Curated News
💳 Payments
Mastercard and Trip.com Pave the Way for Agentic Commerce in Travel
Mastercard and Trip.com are working to bring agentic commerce into travel, enabling AI agents to support parts of the booking and payment journey. The partnership points toward a model where travellers can delegate more purchasing tasks to AI while payment infrastructure handles the transaction.
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Ualett Launches Ualett Global Transfer
Ualett has launched Ualett Global Transfer to simplify international money transfers. The new service expands the company’s cross-border payments offering and targets users sending money internationally.
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UK Payments Delivery Company Embarks on Equity Raise
A UK payments delivery company is raising equity to fund new retail payments infrastructure. The investment is aimed at supporting the development and expansion of its payments network.
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TrueMoney and Fireblocks Work on Blockchain Payments in Thailand
TrueMoney and Fireblocks are collaborating on blockchain-based payments in Thailand. The partnership brings established payments infrastructure together with digital-asset technology to explore new payment rails.
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🏦 Banking
ConnectPay Spins Off Core Banking Technology as Independent Product
ConnectPay is spinning off its core banking technology as an independent product. The move could allow the technology to be offered separately to financial institutions looking for core banking infrastructure.
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Deutsche Bank to Launch Digital Asset Custody Solution
Deutsche Bank plans to launch a digital-asset custody solution for institutional and corporate clients. The initiative reflects continued integration of digital assets into traditional banking infrastructure.
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American Express Launches High-Yield Savings
American Express is expanding its business banking offering with a high-yield savings product. The launch adds another savings-focused product to its push in business banking.
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💼 Fintech
Ramp Launches in the UK, Adds ElevenLabs as Client
Ramp has launched its financial-management platform in the UK and announced ElevenLabs as a client. The expansion brings Ramp’s spend-management and financial-control tools to another major market.
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Velocity Raises $48M in Series A Extension
Velocity has raised additional funding from Visa, Circle and Haun Ventures, bringing its total Series A funding to $48 million. The round provides fresh capital as the fintech continues developing its payments infrastructure.
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Integral Raises €18M Series A
Integral has raised €18 million in Series A funding. The new capital will support the fintech’s continued growth and product development.
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Revolut Data Breach Affected Nearly 700 Clients
A reported Revolut data breach affected nearly 700 clients. The incident adds another cybersecurity challenge for a fintech operating across multiple markets.
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Quartz Raises £2.75M for AI Personal Banking
Quartz, founded by alumni of Revolut and N26, has secured £2.75 million in pre-seed funding. The startup is developing an AI-powered personal banker designed to provide automated financial assistance.
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FI Works Launches AI-Driven Financial Analytics
FI Works has launched AI-driven analytics designed to provide real-time insights for financial institutions. The platform focuses on using AI to turn financial data into more immediate operational insights.
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Tabby Raises $233M at $6.5B Valuation
UAE fintech Tabby has raised $233 million at a $6.5 billion valuation. The funding gives the BNPL and consumer-finance platform additional capital to continue its expansion.
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🪙 Crypto
Clarity Act Collapse Causes Crypto Turmoil in US
The collapse of the US Clarity Act has triggered renewed uncertainty across the crypto market. The development highlights the continuing importance of regulatory clarity for digital-asset businesses operating in the US.
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Circle Launches Arc Mainnet
Circle has launched the Arc mainnet as it looks to build infrastructure for on-chain foreign exchange. The network is positioned around institutional blockchain and FX use cases.
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Fasset to List Dirham Stablecoin
UAE digital-asset firm Fasset is preparing to list a dirham-denominated stablecoin. The move adds another example of stablecoin infrastructure being developed around local currencies.
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📈 WealthTech
ETFbook Raises $13M to Expand ETF Data and Analytics
ETFbook has raised $13 million to expand its ETF data and analytics business globally. The funding will support the company’s continued development of tools for the growing ETF market.
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Monzo Launches Metal Credit Card With Auto-Investing Cashback
Monzo has introduced a metal credit card that automatically invests users’ cashback. The product combines everyday card spending with an automated investment feature.
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Danske Bank Expands Wealth Management Offering
Danske Bank has made its largest-ever investment in wealth management with a new advisory solution for affluent private clients. The initiative expands its digital and advisory capabilities for higher-value customers.
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⚖️ Regulation
ICE Launches Private Credit Reference Data Service
ICE has launched a private credit reference data service. The offering is designed to provide additional data infrastructure for participants in the expanding private-credit market.
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