{
  "id": 9352803,
  "title": "Revolut and Nubank Face Steep Climb in Scaling US Banking",
  "url": "https://urgent.news/2026/09/23/revolut-and-nubank-face-steep-climb-in-scaling-us-banking",
  "topic": "finance",
  "section": "Finance & Markets",
  "published": "2026-09-23T14:46:34.000Z",
  "source": {
    "name": "PYMNTS",
    "slug": "pymnts",
    "url": "https://www.pymnts.com/news/banking/2026/revolut-nubank-face-steep-climb-scaling-united-states-banking/"
  },
  "original_language": "en",
  "account": "Revolut and Nubank, the world's two most-valued digital banks, are aiming to enter the U.S. market, according to the Financial Times. Both companies received conditional approval for U.S. banking charters this year, with Nubank launching its service this month. However, they face significant challenges cracking the competitive U.S. banking market. The companies are riding on an \"unusually lax regulatory window\" in the U.S., and their rising valuations have fueled expectations of success in America. Revolut, based in the UK, aims to justify its $115 billion valuation before a planned IPO in 2028. Nigel Morris, a Capital One co-founder and managing partner of venture capital firm QED Investors, an investor in Nubank, believes the U.S. is the biggest prize for FinTechs. However, entering the U.S. banking space is tough due to multiple regulations and competition from various lenders, including community banks, Wall Street giants, and credit card companies. Other foreign FinTechs, like Monzo, have failed to make a mark in the U.S., focusing instead on their European business. Despite this, Revolut and Nubank have become household names in their home countries by challenging established banks. Revolut, Europe's most valuable startup with 80 million customers across 40 countries and licenses in the UK and France, while Nubank now has the most customers among private sector lenders in Brazil, expanding into Mexico and Colombia. PYMNTS Intelligence's report \"The Gen Z Decoder Ring,\" published in August 2025, found that Generation Z consumers are crucial to the neobank proposition, preferring integrated environments where payments, savings, and spending are united. These consumers manage finances through the same interfaces they use for commerce and communication.",
  "summary": "Revolut and Nubank, the world’s two most-valued digital banks, want to conquer the United States, the Financial Times reported Wednesday (Sept. 23). Both companies obtained conditional approval for U.S. banking charters this year, and Brazil-based Nubank officially debuted its offering this month. However, the two FinTechs face challenges in cracking the highly competitive U.S. banking […] The…",
  "key_points": [
    "Revolut and Nubank seek U.S. banking charters, facing tough competition.",
    "Both fintechs benefit from lax U.S. regulatory window, high valuations.",
    "Generation Z consumers key to neobank success in U.S. market."
  ],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 1,
    "also_reported_by": []
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}