UK-based challenger bank Revolut has formally applied for a banking licence in Finland as it looks to continue its European expansion plans.
UK-based challenger bank Revolut has formally applied for a banking licence in Finland as it looks to continue its European expansion plans.
In context
- Topic: Banca y Fintech — Banca digital, pagos, open banking y regulación financiera.
- Source: Finextra
- Published: 20/08/2026
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Why it matters
What I see behind almost every digital banking story is the same tension: the front end is modern and the core is still a system that has been running for twenty years and nobody dares touch. The distance between those two layers explains most of the projects that slip.
My view here is shaped by the Panamanian market: regulation changes, standards arrive with a deadline, and the operation has to keep invoicing while it adapts. The useful question is not whether it suits you, it is how much time there is to comply.
What usually goes wrong
Where it usually breaks is customer service. The product launches, the support team finds out the week before, and when somebody calls because the money did not arrive nobody knows what to tell them. Trust is lost there, not in the technical outage that caused it.
What to watch
- Which part of the customer relationship ends up with a third party and whether that is reversible.
- What happens to cost per transaction at real volume, which is where the business is decided.
- How daily reconciliation is left, which is where the cases nobody modelled show up.
How I read this entry
I would treat it as a conversation about partnerships rather than product. In this sector fewer and fewer institutions build everything, and the relevant decision is who you partner with and which part of the customer relationship you hand over. That handover is hard to reverse later.
This entry is an excerpt from the original source, selected by the site radar. The commentary above is the site's own and does not belong to the cited publisher.
Living through this in your own team?
Open the chat and tell me how you're handling it. I'm interested in comparing notes.
