UK digital banks Revolut and Starling are weighing acquisitions of nationally chartered banks in the US, which would allow them to be granted American banking licences and lend across all 50 states. Revolut, Europe’s biggest fintech, has approached advisers including Bank of America about buying a US bank, according to one person familiar with the matter. Acquisitions are seen by many as a way of accelerating growth in the US and being granted a licence more quickly than applying from scratch. The US offers access to new customers and significant deposits at a time when many large UK fintechs are winning customers in their home market at a slower rate than before. Declan Ferguson, chief financial officer of Starling, said the company was considering applying for a US banking licence but that an acquisition might be quicker: “We’re considering both paths although we are probably more inclined towards acquisition.” The takeover plans come as regulators in the US adopt a more relaxed attitude to policing takeovers. Michelle Bowman, vice-chair of supervision at the Federal Reserve, signalled plans for a more bank-friendly approach, including faster approvals of mergers, shortly after being confirmed in the role in June. The two other main US bank regulators — the Federal Deposit Insurance Corporation and the Office of the Comptroller of the Currency (OCC) — have rescinded guidance that had made deals harder to complete. Executives at the UK’s biggest fintechs now believe Trump’s deregulatory push will speed up the process of having a banking licence approved through the OCC, as well as making mergers easier. Klarna is considering applying for a US banking licence but is likely to make any decision after an initial public offering, one of the people added. Another executive added that buying a charter through an acquisition could still bring complications because watchdogs investigate changes of ownership to ensure the buyer has the infrastructure needed to maintain a bank’s operations. Another challenge is the US retail banking market’s dependence on physical branches — unlike the UK, where even traditional lenders have reduced their high street presence. Digital lenders which acquire a US bank could find themselves managing a costly store estate — something neobanks purposefully shunned in the UK.