‘Make the process look less scary’: UK banking licence applications hit zero in 2025 April 8, 2026 The number of applicants for UK banking licences plummeted to zero in 2025, raising questions over the government and regulators’ capacity to foster competition and attract overseas investment. The fresh figures – revealed in a Freedom of Information request by financial regulation consultancy Pathlight Associates – show a steep fall from the 11 licence bids [...]
Barclays’ high street U-turn exposes a divide in British banking April 8, 2026 Bank have ditched the high street over the last decade but is a comeback on the horizon? Samuel Norman explores the changes in this week’s column. In Westminster, the news cycle is never short of drama over U-turns. Subtle tweaks or direct bait-and-switches on policy are batted away by government spokespeople as mere “pivots” as [...]
Barclays reverses branch cuts as bank managers return to high street April 4, 2026 Barclays is planning to expand its high street presence and revive the “bank manager” role after years of rapid branch closures. The bank’s UK chief executive Vim Maru told the Times on Saturday that Barclays would increase its branch network beyond its current 206 sites, having already paused a programme that saw it shut around [...]
Revolut slapped with eight-figure fine in Italy over misleading customers April 2, 2026 Revolut has been slapped with a fine by the Italian competition watchdog after the firm was accused of misleading customers over its fees and terms of its investment products. The London-based fintech giant is expected to cough up €11.5m (£10m) after the Italian regulator found advertisements that implied customers could trade with 0 per cent [...]
Monzo ditches US operations after boardroom reshuffle April 1, 2026 UK fintech Monzo has abandoned its ambitions to expand into the US after ailing efforts to crack the market. The digital bank is set to close its accounts for existing customers by June, whilst new customers will stop being on-boarded. The move to shutter US operations will lead to the axing of around 50 employees. [...]
Monzo and Revolut take banking battle to the playground April 1, 2026 Banks are turning their attention to the younger generation and in this week’s column Samuel Norman takes a look at the money to be made with Gen Alpha. The Tooth Fairy is losing her magic touch. After centuries of cultural dominance in the under-the-pillow money market, the primary dealer of calcium-for-cash faces a hostile takeover. [...]
Revolut and Nationwide sharpen swords in battle to bank Britain March 25, 2026 The claws are out in the battle to bank Britain and in this week’s column Samuel Norman takes a look at the latest shots fired from Revolut and Nationwide. If you had ‘Graham Norton sitting on a horse’ on your banking bingo card, congratulations. The BBC chat show host has swapped his famous sofa with [...]
Revolut profit booms after poaching record customers from high street banks March 24, 2026 Revolut revealed a major boom in its bottom line on Tuesday morning after the fintech giant poached a record amount of customers from its high street rivals. The $75bn digital banking titan posted a 57 per cent surge in group-wide profit to £1.7bn. It came as retail customers expanded by a record 16m as the [...]
Revolut eyes trading and wealth push amid hiring spree March 24, 2026 Revolut has laid out its initial blue-print for major expansion in its trading operations after the fintech giant bagged its full-fat UK banking licence earlier this month. The $75bn digital banking juggernaut has kicked off a hiring spree at its Canary Wharf headquarters as well as other financial hubs across the globe. The fintech has [...]
Revolut poised to hit Natwest and Lloyds in deposit war March 20, 2026 Revolut’s long-awaited UK banking licence approval is set to trigger a “deposit war” that could hand a major blow to incumbent giants Natwest and Lloyds. The $75bn fintech juggernaut finally bagged its full-fat UK banking permit earlier this month after a four-year tussle with regulators. Analysts are expecting the move to send ripples across the [...]