Revolut One Step Ahead with Transparent Open Banking Feature
The challenger bank recently teamed up with a financial API specialist to deliver a new feature that allows customers to see their other bank accounts, with other banks, from within the Revolut app.
This week Revolut launched what it’s calling an ‘Open Banking’ feature in the UK; an additional function within its mobile application that allows users to see their bank accounts form other providers.
Revolut partnered with TrueLayer to deliver the new feature, which has already had plenty of encouraging press. The challenger bank has made full use of the open banking environment that exists in today’s banking sphere to offer its customers something beyond the usual.
The new Open Banking feature means Revolut’s mobile banking customers can see other accounts they have, see balances and transactions and set budgeting controls that include their other accounts as well as their Revolut account.
Joshua Fernandes, product owner at Revolut, said: “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,” according to Finextra.
Visit the Revolut site for more information on how it works and what an API is.