Revolut Launches Open Banking for UK Customers via TrueLayer

On February 11, 2020, Revolut introduced open banking functionality for its UK retail and business customers through a partnership with TrueLayer, a leading open banking infrastructure provider. The feature allows Revolut users to connect external bank accounts and view consolidated balances directly within the Revolut app. This account aggregation capability enhances Revolut's value proposition as a primary financial interface, leveraging the UK's PSD2-driven open banking framework.

TrueLayer provides the API connectivity layer that enables secure data sharing between Revolut and other financial institutions. The launch represents a significant step in Revolut's embedded finance strategy, making it easier for users to manage multi-bank relationships from a single platform. No financial terms of the TrueLayer partnership were disclosed.

The feature was rolled out to both personal and business account holders in the UK market.