Revolut expands Open Banking to Germany

Revolut has expanded its Open Banking service to users in Germany.

As a result of the rollout, German customers can now view all of their finances in one place from their smartphones.

The FinTech business has developed its Open Banking service in partnership with Application Programming Interface (API) provider TrueLayer.

German-based users can now connect their accounts at Comdirect, Commerzbank, Deutsche Bank, ING-DiBa and Sparkasse to the Revolut app. Account information from these banks is updated in real time on the Revolut app.

Customers can also create personalised budget analyses across different accounts and send money to friends and family and from one account to another.

"With the introduction of the Open Banking function, our offering in Germany will be even more competitive, user-friendly, fast and accessible,” said Joshua Fernandes, product owner for opening banking at Revolut. “We are delighted that the legislators have created the framework for a new digital financial landscape and are personally very proud that Revolut and TrueLayer are pioneering in this respect."

Francesco Simoneschi, co-founder and chief operating officer at TrueLayer, said: "The introduction of Open Banking with Revolut in Germany also marks a significant expansion for us in the country. As the leading Open Banking platform in Europe, our collaboration with Revolut is continuing at pace and this is just the beginning of what will be a fruitful partnership bringing further innovation to the German market. Revolut’s customers in Germany can benefit from a better user experience, offering a comprehensive view of their finances, as well as greater control and oversight."

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