As Revolut receives a full UK banking licence, what do the public think of the fintech company?

On March 11, it was announced that Revolut would receive a full UK banking licence – marking the end of a process that began in January 2021. Co-founder and CEO Nikolai Storonsky stated it represents a “significant moment” in the company’s growth.

It’s also a moment to reflect on Revolut’s journey so far. Data from YouGov BrandIndex UK shows that its Index scores – which measure overall brand health – have nearly tripled from 2.2 on 11 January 2021 (the day the company first applied for a UK banking licence) – to 6.5 as 11 March 2026 (the day the licence was granted).

While this indicates that the brand has increased in stature among the public, our data also shows that the newly minted bank (previously operating under a restricted licence granted in 2024) does well in comparison to both its digital competitors and the financial services industry in a wider sense.

The brand performs particularly highly when it comes to perceptions of value. Scores tracking this metric are at 6.7: double those of its competitors in the app-based banking space (3.3), and more than double those of UK banks/building societies in general (2.5). This may inform its better-than average scores for Customer Satisfaction (6.4, compared to 5.1 for app-based banks and 5.4 for UK banks/building societies on average), and its Recommend scores, which track consumer advocacy (Revolut: 5.5; App-only banks: 5.3; UK banks/building societies: 4.5).

Perhaps most tellingly, Revolut’s Consideration scores of 11.7 (which track the brands consumers would be likely to use the next time they are in the market for financial services) outperform the average for its digital rivals (8.5) by 3.2 points, and the average score for banks and building societies in general by 1.3 points.

The fintech brand has announced its intention to become the “bank of choice for all people in the UK” and will begin rolling out current accounts to customers imminently. It’s an ambitious goal, and one that will involve taking on both tech-friendly competitors and incumbents who have built their reputations over centuries. Whether it will achieve this goal or not remains to be seen, but in terms of public image, it’s clear that as it achieves full banking status Revolut is already more than competitive.

This article originally appeared in City AM

Image: Getty