Revolut, the global fintech giant with more than 65 million customers worldwide, has officially received authorization from the Superintendencia Financiera de Colombia (SFC) to establish Revolut Bank Colombia S.A.. This marks the first step in Colombia’s two-stage licensing process, paving the way for the company’s entry into Latin America’s third-largest economy as a regulated bank.
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What the Authorization Means
The newly granted “Autorización de Constitución” allows Revolut to begin building its banking operations and infrastructure in Colombia. To operate fully as a bank, the next milestone will be obtaining the “Licencia de Funcionamiento” (operational licence).
With this foundation in place, Revolut is preparing for a 2026 launch, where it will roll out a portfolio of digital financial products, including:
- Savings accounts
- Instant and fee-free international transfers between Revolut customers
- Credit cards
- Other financial services tailored for Colombian consumers
This launch will build on Revolut’s experience in 39 other global markets, where the company already operates a wide range of innovative banking and financial products.
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Long-Term Investment in Colombia
Revolut has committed an initial capital investment of 146 billion Colombian Pesos (approx. £28M / €32M) to establish and grow its banking presence in the country. This significant injection of funds highlights its long-term commitment to Colombia.
Diego Caicedo, CEO of Revolut Bank Colombia, emphasized the importance of this milestone:
“This approval represents a significant step towards transforming the financial landscape in Colombia. We look forward to collaborating with local stakeholders and contributing to the development of a more inclusive and technologically advanced financial ecosystem in the country, bringing a new standard of digital banking convenience.”
Expanding Presence in Latin America
Revolut is rapidly expanding its global footprint with the ambition of becoming a top three financial app in every market it enters. Already active in the EU, UK, US, Australia, New Zealand, Singapore, Japan, and India, the company is now intensifying its focus on Latin America.
- In May 2023, Revolut launched operations in Brazil.
- It has already announced plans to expand into Argentina.
- In 2024, the company received its banking licence in Mexico, preparing for a full launch there as well.
The Colombian operations will be run through Revolut Bank Colombia S.A., which is currently in a “pre-operative” stage—a standard regulatory process that ensures operational readiness before the official launch.
About Revolut and Revolut bank colombia
Founded in 2015 in the UK, Revolut started as a money transfer and currency exchange app. Today, it has grown into one of the world’s largest digital banking platforms, serving 65+ million personal and business customers who make over one billion transactions every month. Revolut’s mission is to build the world’s first truly global financial super-app, giving people greater control over their money while enabling seamless global connections.
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