The Bank of England has demanded a review of Revolut's internal control system and the approval process for new financial products. The reason is the expansion of consumer loans after the company recently received a banking license in the UK. In loans, an error in risk assessment directly affects the repayment of the funds issued. Therefore, it is important to the supervisory authority how decisions are made within the company about launching products and who is responsible for checking them. The audit should show how reliably the procedures for approving new proposals and internal control during business expansion are structured. The mere requirement to evaluate these mechanisms does not mean that specific violations have already been proven. Obtaining a banking license does not complete interaction with the supervisory authority. On the contrary, Revolut's move into consumer loans reinforces the importance of credit risk control: it is increasingly difficult to expand the issuance of funds without a convincing system of checks.

The Bank of England has demanded a review of Revolut's internal control system and the approval process for new financial products. The reason is the expansion of consumer loans after the company recently received a banking license in the UK. In loans, an error in risk assessment directly affects the repayment of the funds issued. Therefore, it is important to the supervisory authority how decisions are made within the company about launching products and who is responsible for checking them. The audit should show how reliably the procedures for approving new proposals and internal control during business expansion are structured. The mere requirement to evaluate these mechanisms does not mean that specific violations have already been proven. Obtaining a banking license does not complete interaction with the supervisory authority. On the contrary, Revolut's move into consumer loans reinforces the importance of credit risk control: it is increasingly difficult to expand the issuance of funds without a convincing system of checks.