Revolut applies for banking licence in Peru

Revolut has confirmed plans to found operations successful Peru, initiating the process by applying for a afloat banking licence successful the country.

Julien Labrot has been appointed arsenic CEO of Revolut Peru and volition oversee the company’s motorboat and improvement wrong the Peruvian market.

Labrot, who brings important fiscal assemblage acquisition from wrong the region, is expected to assemble a section squad and usher Revolut’s concern strategy connected the ground.

Revolut enlargement caput Carlos Urrutia said: "Revolut's introduction into Peru is built connected our content that integer fiscal services should beryllium empowering, accessible, and unafraid for everyone.

"By pursuing a afloat banking licence we are not conscionable entering a caller marketplace - we are committing to becoming a trusted and integral portion of Peru's fiscal ecosystem."

If granted a afloat banking licence, Revolut volition beryllium capable to present a suite of products and services tailored to Peruvian customers.

The fintech steadfast intends to grow its workforce successful Peru implicit the coming months, continuing its adoption of chiefly distant enactment practices.

Peru is the 5th Latin American marketplace targeted by Revolut.

This follows erstwhile enlargement announcements for Brazil, Mexico, Colombia, and Argentina.

The institution has stated an nonsubjective of reaching 100 cardinal customers crossed 100 countries globally.

For 2024, Revolut reported gross of $4bn, profits of $1bn, and full assets amounting to $33bn, with a valuation of $75bn.

Revolut Peru CEO Julien Labrot commented: "Our absorption is connected bringing the champion of Revolut to the Peruvian marketplace portion gathering a unafraid and compliant level that genuinely serves the needs of our aboriginal customers.

"We are present to lend to the integer translation of fiscal services, moving intimately with regulators to connection a long-term, trusted world-class banking solution for individuals and businesses alike."

Recently, Revolut introduced an in-app relation designed to counteract impersonation scams.

The caller instrumentality identifies erstwhile users entree the app during telephone calls including those done third-party platforms and seeks to verify if the telephone involves a morganatic Revolut representative.

"Revolut applies for banking licence successful Peru " was primitively created and published by Retail Banker International, a GlobalData owned brand.

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