Revolut rival Vivid withdraws application for Irish e-money licence

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“Since the beginning, it’s been part of Vivid’s DNA to provide customers with the best products as fast as possible. The fast-paced product development in not even two years since the initial launch was only possible through our trusted partners, such as German Solarisbank for banking and German CM-Equity for our investment feature,” Vivid said.

Revolut, which recently officially began operating as a bank in the Republic, recently dropped plans to use an e-money licence it had secured from the regulator. It decided instead to use the full banking licence awarded by the The Vivid spokesman told The Irish Times there would be no job losses arising from its decision to withdraw from the licencing process. He said the company was “in the process of restructuring the team involved in the application to use their expertise for other projects”.

 

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