0:00
And I worked on the UK bank license at
0:01
>> There we go. Tell us a little bit about
0:03
that process. What is it like in
0:04
actually pursuing a license and how is
0:05
the UK different to some of these areas
0:08
>> Yeah, it's a good question. I mean, the
0:09
UK is one of the most respected
0:11
financial regulators in the world and so
0:13
I think they do put you through a
0:14
rigorous process in order to get
0:16
approved here as they should. And I
0:17
think it's an absolute boon and and
0:19
great outcome for the UK that it's been
0:21
granted and it shows that the UK is
0:22
still the home of fintech
0:23
internationally. But yeah, it's a it's a
0:25
good regulator to be supervised by.
0:26
>> Were you surprised at how long the
0:28
mobilization took? So obviously we know
0:30
the mobilization stage you get your
0:31
first approval for the license then
0:34
you're giving typically what they say is
0:35
like a 12-month period to mobilize and
0:37
then you get all the restrictions lifted
0:39
into the the full license. Obviously
0:40
Revolut was around 18 months. They say
0:42
they're the most complex company to go
0:44
through this. By far they are on terms
0:45
of customers alone. Were you surprised
0:47
at all how long that took?
0:48
>> I mean, I wasn't involved in the
0:49
mobilization process so it's hard for me
0:50
to comment specifically, but I think we
0:52
should just celebrate that it's over now
0:53
and Revolut can get on with their
