FinTech Alliance company Revolut has announced it will double its workforce in Ireland.
In Brief:
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The challenger bank will place more responsibility for the European payments business in Dublin as well as Lithuania.
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The company has cited a large customer base and highly educated workforce as factors in the decision.
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It is also in the process of applying for an e-money license (EMI) in Ireland.
What does this mean?
The move is part of the bank’s efforts to minimise disruption following Brexit. Western European customers will be added to the Irish license if it is granted by the Central Bank of Ireland. However, Revolut has stressed it remains committed to London as its global HQ.
