So Revolut, the company which offers banking services confirmed today that embattled CFO Peter O’Higgins has resigned and left the business.
If you could recall the company have been ubder some serious pressure lately after a Daily Telegraph report revealed that the company ,Revolut, switched off an anti-money laundering system that flags suspect transactions because it was prone to throwing out false positives.
According to the report, the systems were inactive between July-September of 2018, and that paved way for some illegal transaction across the platform. O’Higgins who joined the company three years ago from JP morgans never mentioned the incident in his resignation statement
The company is headquarted in the U.K. it claims over four million registered users across Europe, and is valued at $1.7 billion although its plans to extend its presence to other parts of the world are taking longer than expected. Although the company said it has plans to lunch in singapore and japan, Revolut is generally considered to be the largest challenger bank in Europe, in terms of valuation and registered users, but other rivals include N26, Monzo and Starling. EvenTransferWise, the global remittance service, now includes border-less banking features and an accompanying debit card.
