Revolut have announced the addition of American Express to its Open Banking feature. The feature allows Revolut retail customers in the UK to connect their American Express and other banks accounts to Revolut, making it possible to see all of their balances and transactions in one single app.
Currently, a customer can only access their American Express balances and transaction histories through Amex’s own online banking service or app. As a result, customers potentially have reduced visibility of this information, as the only way to see this information regularly is through accessing multiple websites or apps.
Revolut’s goal has always been to help people manage their financial life in a quick, easy and convenient manner. Having to switch between different apps is inconvenient, especially when many people have multiple accounts.
With Open Banking, Revolut’s retail customers in the UK can now connect their Amex accounts and bank accounts to Revolut, and see everything in one place, such as Revolut balances and transactions alongside their Amex account transactions, all within the Revolut app.
In addition, retail customers can set budgeting controls for their Revolut account and have a full picture of their spending on their non-Revolut account, giving them greater control over their entire financial lives. Revolut is working on rolling our Amex support to other countries and adding even more banks and credit cards in the near future.
Revolut’s Open Banking offering has been built in partnership with leading provider of financial APIs TrueLayer. Using TrueLayer’s platform ensures account information from major banks and challengers is quickly and securely integrated and updated.