Fintech company Revolut has launched a personal loan product in the UK, representing a new effort by the digital firm to compete directly with the country’s traditional high street banking institutions.
This move expands Revolut’s existing financial service offerings into the consumer credit sector. While the company has grown significantly as a digital banking and payments platform, the introduction of personal loans signals a further diversification of its services as it seeks to capture more market share from established banks.
The development is part of the ongoing shift in the UK financial landscape, where digital-first platforms continue to challenge incumbents by integrating lending services directly into their existing mobile-app ecosystems.
Source: Finextra
Original article: https://www.finextra.com/newsarticle/48647/revolut-launches-personal-loans-in-the-uk?utm_medium=rssfinextra&utm_source=finextrafeed
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