The new team will take charge of the entire end-to-end licensing process - from liaison with regulators, through to the execution of the requirements needed to obtain each licence.

Nik Storonsky, founder & CEO of Revolut, says: "Building this team will be no easy task. We’re ideally looking for people who have previous experience in securing either a banking or trading licence, and they should be quite technical and be comfortable working in a very fast-paced environment."

The roles that make up the core team will include a Capital, Liquidity and Financial Modelling Manager, a Licence Business Planning Manager, a Licence Project Manager for Banking, a Licence Project Manager for Trading and a Global Head of Licence Operations.

With the UK due to leave the EU on 29th March, Revolut is keeping an eye on any Brexit developments which could affect the passporting of is recently-acquired European banking licence.

"Brexit is obviously a little bit of an inconvenience for us, but we've never been a reactive company. That's why we've now secured an EMI licence in both the UK and Europe, and now that we have a European banking licence in place, our next step is to secure a UK banking licence," says Storonsky. "From the talent side, we're not seeing any of signs that people not wanting to relocate to London, and we're proactively working with government ministers on lobbying for a specialised visa for high calibre software engineers and data scientists, so that it'll be far easier for this kind of talent to get into the country. If the UK is to remain the tech capital of Europe, we need to make it easy and fast for the best talent to come in."