Revolut Takes Step Towards Israeli Banking License with Name Change
Translated & summarized from Calcalist by baba
Fintech company Revolut has changed its Israeli subsidiary's name to "Revolut Bank Israel (In Formation) Ltd." as it pursues a banking license. While the company has received approval to advance in the licensing process from the Bank of Israel and holds a payment services license, it has not yet obtained a full banking license. Revolut is expanding its hiring in Israel and aims to compete with local banks, though a launch date has not been announced.
The story in 5 lines · by baba
- Revolut changed its Israeli subsidiary's name to "Revolut Bank Israel (In Formation) Ltd."
- The fintech giant is still awaiting a banking license from the Bank of Israel.
- The company received approval to advance in the licensing process in May.
- Revolut previously reported to be seeking a "lean bank" license.
- The company is expanding its hiring in Israel for banking-related roles.
British fintech giant Revolut has taken another step toward establishing a bank in Israel by officially changing its company name. On November 1, the Companies Registrar approved the request to change the name of "Revolut Payments Israel Ltd." to "Revolut Bank Israel (In Formation) Ltd.", according to a statement from the Banking Settlement Center (Masav) released today. This name change follows a series of actions by the company in recent months as it prepares to enter the Israeli banking market. However, Revolut has not yet received a banking license from the Bank of Israel, and the licensing process is ongoing.
In June 2025, it was reported that Revolut was in discussions with the Bank of Israel to obtain a "lean bank" license, which would allow it to offer deposits and compete with local banks. In May, the Bank of Israel officially confirmed that Governor had granted Revolut approval to proceed with the necessary stages of the banking license application. The company already holds a payment services license from the Israel Securities Authority, which is not a banking license, but it has not yet begun offering services to the public in Israel.
Last month, it was reported that Revolut is expanding its hiring in Israel for roles including credit, risk management, compliance, collections, and banking operations. The company's operations in Israel are led by Uri Natan, formerly CEO of the digital bank Pepper. Revolut, which serves over 80 million customers globally, aims to enter the Israeli market and compete with local banks. The company has not yet announced a date for the start of its operations in Israel.
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