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Audio May 4, 2026

Inside Revolut’s High Stakes Journey to Becoming a UK Bank

 Thomas Wallace, CRO - Revolut UK, RevolutLinkedIn profile for  Thomas Wallace

Revolut CRO Thomas Wallace reveals the inside story of becoming a UK bank, from regulatory scrutiny to real time risk dashboards and high stakes customer onboarding. He explains how trust, operational resilience, and scalable risk systems shaped the journey, and what it means for Revolut’s global expansion.

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Thomas Wallace offers a striking look at what it means to take a fintech with 13 million UK customers and turn it into a regulated bank overnight. Unlike earlier challengers that launched with small customer bases, Revolut had to convince regulators it could operate safely at massive scale from day one - an unprecedented challenge that explains the long authorisation timeline. Wallace highlights how trust has become a strategic risk factor, with customer behaviour shaped by speed, digital expectations, and the potential for rapid liquidity outflows. Becoming a bank, he argues, still matters deeply to customers, and that trust premium is central to Revolut’s long‑term strategy.

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