03 October 2023

Apple Wallet is making it easier to see your current account balances

Written By FinTech Alliance in Open Banking

Apple Wallet is making it easier to see your current account balances

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.

Read more here.

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