The company is mulling hiring investment bankers to advise it on a possible acquisition of an American lender to bolster its growth in the U.S., Bloomberg News reported Thursday (Aug. 28), citing sources familiar with the matter.

One source told the news outlet that Revolut is still deciding between an acquisition or applying for its own banking license, and that these deliberations are happening as the company readies the launch of savings products for U.S. consumers in the weeks ahead.

The report follows a similar story from the Financial Times late last month, which said Revolut was considering the acquisition of a U.S.-chartered bank. A spokesperson for Revolut declined to comment when reached by PYMNTS.

As the Bloomberg report notes, Revolut has operated for years in the U.S. by collaborating with other banks. But now, the company and its competitors are seeking a greater share of the banking space amid a more relaxed attitude toward financial regulation in Washington.

Revolut is still in the process of establishing its banking presence in its home country. It took the FinTech more than three years to land a U.K. banking license, and while it eventually secured that permission, it must operate under certain restrictions. Per Bloomberg, Revolut has said it’s in the closing stages of this process.

“Given Revolut’s global scale, this is the largest and most complex mobilization ever undertaken in the UK,” the firm said in a statement last month. “A thorough review is an expected part of the process and getting this right is more important than rushing to meet a specific date.”

Revolut CEO Nik Storonsky has said that the company’s “grow fast” ethos had been ill-advised because a smaller firm would have been able to obtain licenses more easily than one the size of Revolut.

Meanwhile, last month saw a report that the British government and the U.K. central bank had suffered a “falling out” due to delays in allowing a full banking license for Revolut.

Bank of England Gov. Andrew Bailey denied that report, saying the central bank and British treasury have a good relationship.

Live productions of this solution using the ISO 20022 financial messaging standards are underway, Standard Chartered announced Wednesday (Aug. 27).

Using Ant’s Alipay+ global wallet gateway services, the first transactions were completed between a Standard Chartered Bank customer account and a partner e-wallet. The solution employs Swift’s network of more than 11,500 financial institutions in 200-plus countries and territories to connect to 1.7 billion user accounts on the 36 global digital wallets in the Alipay+ ecosystem, particularly across fast-growing Asian markets.

“In a world of fast-moving innovation with a growing number of ways to move value, consumers and businesses expect more choice and optionality in their international payments experience,” said Kevin Wong, chief executive for Swift’s Asia Pacific operations.

“Swift is at the forefront of providing a best-in class experience with greater flexibility and choice. This collaboration with Ant International and Standard Chartered reflects that strategic commitment to faster, frictionless payments across multiple networks.”

The partnership comes in the midst of a shift in digital wallet usage among consumers and small businesses, as research by PYMNTS Intelligence has found.

The research found a growing preference for digital wallets when sending and receiving money across borders, particularly among consumers. The study found that 42% of consumers pointed to digital wallets as their top choice, outpacing traditional methods like bank account transfers and money transfer services. The figure was slightly higher among Americans, at 44%.

In addition, close to half of the consumers who don’t use digital wallets for international payments anticipate adopting them for peer-to-peer (P2P) transactions in the near future, “pointing toward further expansion of digital wallet usage in this domain,” PYMNTS wrote.

The chief drivers of this adoption included the perceived speed and growing trust associated with digital wallets.

“However, the burgeoning popularity of digital wallets in cross-border payments presents opportunities and challenges for banks,” PYMNTS wrote in April. “While consumers and businesses embrace the convenience offered by digital wallets, the report found interoperability issues that hinder seamless transactions across different platforms and countries.”

According to the study, 62% of banks in the U.S. and U.K. that are innovating or looking to innovate in cross-border payments plan to do so by teaming up with FinTech companies. The key factor behind these partnerships is the need for faster payment processing.

The company is aiming for a valuation of between $13 billion and $14 billion with its U.S. initial public offering (IPO) next month, Reuters reported Tuesday (Aug. 26), citing two sources familiar with the matter.

Klarna announced March 14 that it filed to go public with the Securities and Exchange Commission (SEC). But weeks after the announcement, the company, like several other FinTechs, put its IPO plans on hold following the market shakeup triggered by widespread U.S. tariffs. 

The company had also looked at going public in 2021 but decided not go forward with that plan.

A spokesperson for Klarna declined to comment when reached by PYMNTS.

According to the report, sources said the shares sold in the offering could be priced at between $34 and $36 as early as this week. 

As Reuters notes, this would be a significant drop from the valuation of almost $50 billion Klarna had targeted in 2021, and the more than $15 billion it was reportedly aiming for earlier this year. One of the sources told Reuters Klarna is aiming to raise nearly $1 billion from the IPO.

Research by PYMNTS Intelligence shows that Klarna holds the largest share of the buy now, pay later (BNPL) market in the U.S. at 26.2% followed by Afterpay, with an estimated 21.9% share, and Affirm, which has a market share of 19.3%.

The company’s IPO plans come as BNPL offerings remain prevalent in the lives of American consumers, with 43% telling PYMNTS they would cancel a payment or purchase if pay later options were unavailable, and 42.4% saying they’d choose a cheaper product or service.

Additional research shows the plans are popular among people living paycheck to paycheck, with 65% of people who struggle to pay monthly bills reporting that they used BNPL last year. The same holds true for 60% of those who live paycheck-to-paycheck but are able to keep on top of their monthly financial obligations. 

“These consumers see more of their paychecks eaten up by increases in housing, grocery and insurance expenses,” PYMNTS CEO Karen Webster wrote last month.

“Splitting a $300 unexpected medical bill or a $400 utility expense across a few pay cycles makes it manageable without taking on revolving debt, borrowing from family or friends, or worse. For these households, installments provide structure and stability amid irregular incomes and rising fixed costs.”