Revolut has announced the launch of open banking for all UK retail and business customers.
In Brief:
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UK customers will be able to connect their external bank accounts to Revolut’s platform.
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Users can then view all their balances in the app.
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The offering has been built in partnership with TrueLayer.
What does this mean?
Part of Revolut’s efforts to stay relevant and competitive against new players, the feature makes it easier to share data across different finance providers. Revolut says it will make its offering more relevant, user friendly, fast and cost efficient.
