Revolut rolls out Open Banking tool

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Revolut rolls out Open Banking tool

12th February 2020 announcement banking banking industry data management digital currency digital payments financial market financial system impact innovations investment 0

Revolut has launched an Open Banking feature, giving UK customers the ability to see their bank accounts from other providers from within the challenger’s app.

Revolut teamed up with financial API specialist TrueLayer to enable all of its retail and business customers to see balances and transactions from other high street and challenger banks. Retail customers can also set budgeting controls for their Revolut and external accounts, giving them greater control over their financial lives.

Joshua Fernandes, product owner, Open Banking, Revolut, says: With the launch of our new Open Banking feature, UK customers can now view and manage multiple external bank accounts, enabling them to interpret their day to day spending across all of their accounts, with the added benefit of making our offering even more relevant, user-friendly, faster and more cost-efficient for our customers.”

Francesco Simoneschi, CEO, TrueLayer, adds: “Revolut has a huge, rapidly growing customer base that will now benefit from gaining a 360 view of their financial health. This is exciting because, for years, people haven’t been getting enough value from traditional banks – paying more than they should on interest and not benefiting from a unified view of their finances.”

All credits to the original source in the link below:

https://www.finextra.com/newsarticle/35261/revolut-rolls-out-open-banking-tool

 

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