Revolut has received authorisation from the Superintendencia Financiera de Colombia (SFC) to establish Revolut Bank Colombia S.A.
The initiative reflects Revolut’s official entry in the Colombian market as a fully regulated bank, accelerating its goal to build a global bank. The recently acquired licence enables the neobank to build its own banking operations and infrastructure in the country, being the first of two regulatory pursuits Revolut is set to achieve, with the second being to secure the licence to operate formally as a bank.
Expanding across the LATAM region
Revolut’s work in Colombia will be conducted by its local subsidiary, Revolut Bank Colombia S.A., which is a bank in the process of authorisation after receiving the incorporation license. This stage is a common regulatory process for new banks, allowing them to get ready before the full launch.
With this regulatory foundation in place, Revolut can prepare for its 2026 launch, when it will introduce a full suite of digital banking solutions designed for Colombian customers. This includes savings accounts, instant and fee-free international transfers between Revolut customers, and credit cards, amongst other products.
The company allocated an initial capital of approximately EUR32 million to fund the initial establishment and grow its operations in the country, highlighting its long-term commitment to the market. Revolut Bank Colombia mentions that the approval is a key step in contributing to the financial landscape in the country and working towards a more inclusive and technologically advanced financial system.
As Revolut is rapidly expanding its presence globally, its mission is to become one of the top three financial apps in every market it enters, including the EU, the UK, the US, Australia, New Zealand, Japan, Singapore, and India. Now, the company is increasingly strengthening its footprint in Latin America as well, reflecting its global commitment. Following its launch in Brazil in 2023, the neobank aims to also launch in Argentina and Mexico.
