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Revolut launches personal loans in challenge to UK banks

Original: bank

Fintech firm Revolut has begun offering personal loans in the UK, moving directly against high street banks such as Barclays, Lloyds and NatWest. The Times reports the launch marks another step in the company's push to become a full-service financial provider for its British customers. Observers are weighing what increased competition from app-based lenders means for traditional banks and consumer borrowing costs.

Why now: Revolut's entry into the UK personal loan market is fresh news challenging established high street banks.

RevolutThe TimesUnited Kingdom

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Evidence

• Revolut launches UK personal loans in challenge to major banks · The Times

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