Finance
Revolut Eyes Private Bank Arm for UK, Europe to Push Into Wealth
Revolut recently got approval from UK regulators to offer more complex investment products to customers.
Photographer: Betty Laura Zapata/BloombergRevolut is looking to open up a private bank in UK and some European countries in an effort to reel in revenue from wealthy individuals, according to a person with knowledge of the matter.
The London-based financial techology firm could launch a private banking unit as soon as this summer, said the person, who asked not to be identified discussing confidential plans. The bank is looking at a threshold of £500,000 ($675,000) for customers to be eligible.