8.6 C
New York
Monday, May 27, 2024
Home Challanger banks Revolut and TrueLayer are bringing Open Banking to users in Germany

Revolut and TrueLayer are bringing Open Banking to users in Germany

With the new Open Banking function (linked accounts), Revolut customers can now link all their bank accounts at Comdirect, Commerzbank, Deutsche Bank, ING-DiBa and Sparkasse in their Revolut app.

Read also: Starling Bank moves into profit according to Anne Boden

The new Open Banking offer from Revolut was developed in cooperation with Europe’s provider of financial APIs (programming interfaces), the London-based fintech TrueLayer.

The use of the TrueLayer platform ensures that account information from major German banks is securely integrated and updated in the Revolut app in real-time. The cooperation with Revolut also serves as the prelude for TrueLayer on the German market.

Specifically, this means: With Open Banking, German customers can connect all their bank accounts at the supported financial institutions to the Revolut app.

But not only: Users can now transfer money between Revolut and other bank accounts, create personalized budget analysis across different accounts and send money to friends and family and from one account to another via Revolut – finally in a single app and without losing track of things.

The top-up function is also supported in Open Banking: Revolut accounts can be topped up easily by simple transfers from the linked accounts directly in the app, without entering a card or IBAN and, above all, without logging into the online banking of other financial institutions. Open Banking is free for all Revolut users.

Jan Cerny
Jan is an innovation enthusiast and Fintech news reporter. He specializes in news distribution, social media, and content analysis.

Recent posts

NEW Revolut UK CEO to make Conference Debut at MoneyLIVE Summit

MoneyLIVE has today announced that Revolut’s newly appointed UK CEO will be making her conference debut at MoneyLIVE Summit 2024, which is...

2024’s Financial Innovators: A New Era of Banking Startups 

In the wake of the COVID-19 pandemic, our world witnessed an unprecedented shift towards digitalization. The banking industry, in particular, has been...

C-suite Banking and Payments Leaders From Across Europe Set to Meet at London’s MoneyLIVE Summit in March

On the 6-7 March 2024 MoneyLIVE Summit will return to London’s QEII Centre to unite over 1000 banking and payments leaders from...

The Evolution of Digital Wallets: A Shift from Physical Cards by 2030

By 2030, we can expect digital wallets to become the preferred payment instrument, offering a myriad of non-payment-related services for consumers.