Barclays’ chief executive has suggested that its fintech rival Revolut has benefited from a lack of a full UK banking licence, with the digital start-up not required to meet some ‘very important consumer obligations’ imposed on traditional lenders. ‘There is another side of it, which is that they don’t have a full banking licence in the UK, so they are free from some of the very important consumer obligations that we have to fulfil to society,’ CS Venkatakrishnan told the FT Global Banking Summit on Tuesday. Tap the link in our bio to read more about his comments with @financialtimeslive. #Barclays #Revoult #Fintech #UK #Banking
♬ original sound – FinancialTimes
@financialtimes Barclays’ chief executive has suggested that its fintech rival Revolut has benefited from a lack of a full UK banking licence, with the digital start-up not required to meet some ‘very important consumer obligations’ imposed on traditional lenders. ‘There is another side of it, which is that they don’t have a full banking licence in the UK, so they are free from some of the very important consumer obligations that we have to fulfil to society,’ CS Venkatakrishnan told the FT Global Banking Summit on Tuesday. Tap the link in our bio to read more about his comments with @financialtimeslive. #Barclays #Revoult #Fintech #UK #Banking
