Revolut to review internal systems following BoE order, report
Photo: Protos
Online bank Revolut is being forced to investigate its own internal systems after the Bank of England (BoE) ordered a review of its product approval processes. That’s according to The Financial Times , which reports that the BoE’s Prudential Regulation Authority issued a Section 166 order that requires Revolut to hire experts to assess how robust its practices are. The firm has reportedly been acting fast and loose when it comes to developing new products, with CEO Nik Storonsky describing employees as “self-guided missiles” with little oversight in product development.
Source: Protos
