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The ‘big bang’ will happen when the regulator gives it the green light to transfer all of its users to the new banking entity around this summer. Revolut UK will then be able to broaden its product offering into traditional banking services such as loans, overdrafts and eventually mortgages.
“My main strategic focus is making Revolut the primary bank for everybody in the U.K.,” Carlesi said, acknowledging that for now customers need to use other banks since Revolut can’t yet satisfy all their financial needs.
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