In a UK-first release, Apple is soft-launching an iPhone Wallet app, harnessing open banking.
In brief:
-The new integration is powered by open banking APIs in the UK
-Banks including Starling, Monzo, Lloyds, RBS, Barclays and HSBC are supported in this first rollout.
-Users will now be able to see their current account balance, as well as a history of deposits and payments, directly through their Apple Wallet.
What does this mean?
It may take a lot longer for the feature to be replicated in other markets, like the US, without interoperable open banking.
