Fintech giant Revolut is applying for a full Swiss banking licence and wants to become Swiss customers' everyday bank
Directors Julian Biegmann and David Tirado said that Finma approval would let clients receive their salaries directly and deposit their savings with Revolut in Switzerland for the first time.
The company has committed to investing more than CHF 150 million locally over five years, tripling its Swiss team from 30 to around 90 people by end of 2027.
If granted, the licence would put Revolut in direct competition with Switzerland's established banks.
The final decision rests with the Swiss regulator.
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