This week Revolut obtained authorization from the Superintendency of Banking, Insurance and AFP (SBS) to register as a banking entity in Peru. This advance is part of a process that began less than a year ago and marks the beginning of its regulated operation in the country.
The fintech may be formally established in the Peruvian financial market, although it must still pass a regulatory audit that will define its functional authorization. Only then can you offer financial products and attract savings funds at the local level.
Regional strategy
With Peru, Revolut adds its fifth market in Latin America, after Brazil, Mexico, Colombia and Argentina. This move responds to its ambition to serve 100 million customers in 100 countries, consolidating its presence in key economies in the region.
The company seeks to build regulated and sustainable operations, based on trust and transparency, with the aim of competing directly against traditional banking and offering innovative and accessible financial services.
Path to full license
The next step will be the audit request before the SBS, considered the final phase before Revolut can launch official operations in Peru. The expectation is that the complete banking license will be completed at the beginning of 2027, which will allow it to deploy its complete product portfolio.
The strategy aims to differentiate itself from the country’s main banks, offering a digital proposal that simplifies the way in which users manage their money, travel, invest and work.
Growing team
The fintech already has a local team in Peru and is in the process of expansion. It is estimated that by the end of 2026 the number of collaborators will reach close to 60 people, with the aim of complying with regulatory requirements and preparing the launch of operations.
This growth reflects Revolut’s commitment to consolidate a solid presence in the Peruvian market, in line with its global vision of a financial world without borders.
