Revolut 𝗶𝘀 𝗮𝗽𝗽𝗹𝘆𝗶𝗻𝗴 𝗳𝗼𝗿 𝗮 𝗦𝘄𝗶𝘀𝘀 𝗯𝗮𝗻𝗸𝗶𝗻𝗴 𝗹𝗶𝗰𝗲𝗻𝗰𝗲 🇨🇭 We've officially submitted our application for a 𝗯𝗮𝗻𝗸𝗶𝗻𝗴 𝗹𝗶𝗰𝗲𝗻𝗰𝗲 𝗶𝗻 𝗦𝘄𝗶𝘁𝘇𝗲𝗿𝗹𝗮𝗻𝗱 to the 𝗦𝘄𝗶𝘀𝘀 𝗙𝗶𝗻𝗮𝗻𝗰𝗶𝗮𝗹 𝗠𝗮𝗿𝗸𝗲𝘁 𝗦𝘂𝗽𝗲𝗿𝘃𝗶𝘀𝗼𝗿𝘆 𝗔𝘂𝘁𝗵𝗼𝗿𝗶𝘁𝘆 (𝗙𝗜𝗡𝗠𝗔) Switzerland is already a key market for Revolut in Europe: with 1.3M customers, our local penetration already matches what we've built in France, Spain and Poland, some of our most important markets on the continent. Applying for a local licence is the logical next step. Subject to FINMA's regulatory approval, the licence would bring us closer to our customers and facilitate the roll-out of local benefits such as Swiss IBANs, salary accounts, eBill, merchant acquiring and deposit protection under Swiss standards, with Pillar 3a and TWINT under consideration. To support this ambition, we're planning to invest CHF 150M+ in Switzerland over the next five years, one of the largest investments in the Swiss financial sector in decades, alongside new hires and senior leadership appointments, as we work towards building a locally anchored banking structure. For the time being, nothing changes for our Swiss customers, and we'll update them in a timely manner. In the meantime, we continue to build the future of banking behind the scenes, in Switzerland and all around the world. | 25 comments on LinkedIn