Revolut has revealed it’s bringing the launch of Open Banking to its extensive portfolio of customers in France.
The expansion means Revolut’s retail customers have the ability to connect their Crédit Mutuel, Caisse d’Epargne, Banque Populaire, Crédit Agricole, Société Générale, BNP Paribas and Hello Bank bank accounts to Revolut, allowing them to view all their balances and transactions in a single app.
Users with several bank accounts who do not use an aggregator often have reduced visibility of all their bank accounts due to the need to access multiple websites or banking applications.
Joshua Fernandes, Product Owner Open Banking at Revolut, commented: “With the deployment of our Open Banking product, our customers in France can now consult and manage several bank accounts in the same place, allowing them to have a global view of their daily expenses without having to switch from one banking app to another.
“We are delighted to see the new regulations facilitating a more open banking world, for the benefit of the greatest number of people. Revolut and TrueLayer are now at the forefront of this experience.”
In collaborating with financial API, Revolut’s new Open Banking offer seeks to boost efficiency and seamlessness within the customer journey. It also marks significant growth within TrueLayer’s offering in France.
Francesco Simoneschi, co-founder and CEO of TrueLayer, added: “Launching Open Banking for Revolut’s customers in France marks a big expansion of our operations in the country. We’re delighted that our partnership with Revolut is going from strength to strength following the successful roll out of Open Banking services in the UK and the Republic of Ireland.
“There has been a certain degree of scepticism regarding the progress of PSD2 in the EU, however, this partnership shows that it is advancing at pace.”
Revolut’s customers in France will now start to be able take advantage of all the benefits of Open Banking, enabling them to have a much more comprehensive view of their finances, as well as greater control and oversight.
“We’re certain that, with France’s reputation for technological innovation, that both consumers and businesses will be quick to recognise these benefits and embrace Open Banking. We’re looking forward to supporting Revolut in their mission to build more great customer experiences.”