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Bank Of England Governor Dismisses Government Rift Amid Revolut License Delays

by THEFUTURE.TEAM

August 11, 2025

Bank Of England Defends Government Relations

London – In a recent discussion with CNBC, Bank of England Governor Andrew Bailey dismissed speculation of any discord between the central bank and the U.K. government over delays in fintech giant Revolut’s progression toward full banking status. Bailey confirmed that interactions with Finance Minister Rachel Reeves have remained constructive, refuting reports of a falling out.

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Revolut’s Journey Toward Full Banking Authorization

Revolut’s lengthy application process, which began in 2021, culminated in the granting of a restricted banking license in July 2024 by the Prudential Regulation Authority. Despite this milestone, the digital bank remains confined to a transitional ‘mobilization’ phase, limiting customer deposits to £50,000— a stark contrast to the extensive deposits handled by established high-street institutions like Barclays, HSBC, and Santander.

Regulatory Engagement And Market Implications

Although Revolut’s U.K. customers are currently served through its e-money unit and lack the direct protection of the Financial Services Compensation Scheme, the Prudential Regulation Authority is actively engaged in facilitating the digital bank’s transition. Bailey emphasized that there is no inherent trade-off between maintaining financial stability and fostering economic growth, and he expressed an openness to regulatory adjustments to support innovation in the fintech sector.

Industry Scrutiny And Government Response

Delays in granting full banking licenses to fintech firms have sparked criticism from the U.K. tech industry, which argues that more robust support is needed for the country to remain competitive on the global stage. The governor’s remarks underscore a commitment to balance rigorous oversight with a willingness to adapt policies that encourage a thriving digital financial landscape.

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FinTech’s Dominance In MENA: Three Strategic Drivers Behind Unyielding VC Success

by THEFUTURE.TEAM

September 11, 2025

Despite facing tightening global liquidity and macroeconomic headwinds, the FinTech sector continues to assert its leadership in the MENA region. In the first half of 2025, FinTech emerged as the most resilient and appealing arena for venture capital investments, proving its worth as a catalyst for financial innovation and inclusion.

Addressing Structural Financial Gaps

In many parts of MENA, a significant proportion of the population remains underbanked and underserved by traditional financial institutions. FinTech companies are uniquely positioned to address these persistent challenges by bridging critical access gaps and driving financial inclusion. With the proliferation of payment apps, digital wallets, and micro-lending platforms, investors have witnessed firsthand how these solutions pave the way for scalable growth and eventual exits. Early-stage momentum in the region is underscored by a doubling of pre-seed deals year-over-year, reinforcing the sector’s capacity for rapid innovation and sustainable expansion.

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Highly Scalable and Replicable Business Models

One of the key factors behind FinTech’s dominance is the inherent scalability of its business models. Once the necessary infrastructure and regulatory approvals are in place, these models have demonstrated robust performance across borders. The first half of 2025 saw a marked acceleration in deal activity, with payment solutions leading the charge with 28 deals in MENA—a significant increase over the previous year. Lending platforms, in particular, experienced a meteoric 500% year-over-year increase in funding, emerging as the fastest-growing subindustry. Such replicability makes FinTech an attractive proposition for investors seeking high-growth opportunities in diverse markets.

Supportive Regulatory And Government Backing

The strategic support offered by key government initiatives in the UAE and Saudi Arabia has been instrumental in propelling the FinTech sector forward. Progressive frameworks, such as the UAE’s open finance and digital asset directives, coupled with Saudi Arabia’s live-testing sandboxes, have materially lowered entry barriers for startups. These measures not only foster innovation but also streamline the path to commercialization. Consequently, the combined efforts of these regulatory bodies have enabled the UAE and Saudi Arabia to account for 86% of MENA’s total FinTech funding in H1 2025.

The resilience of FinTech in MENA is not merely a reflection of contemporary market trends—it signals a fundamental shift in the region’s economic fabric. With an unwavering commitment to addressing real financial challenges, scalable and replicable business practices, and robust regulatory support, FinTech is setting the benchmark for sustainable innovation. As capital markets become increasingly discerning, this sector stands out as a beacon of long-term growth and transformative impact.