TrueLayer, Europe’s leading providers of financial APIs, has integrated with Revolut to enable the secure access of financial data via Open Banking.
Money management app Emma will be one of the first companies to use the new integration. Emma’s customers will now be able to quickly and securely use their Revolut account information to track their spending in real time.
TrueLayer’s partnership with Revolut means that a host of new Open Banking-based fintech services, such as Emma, can be offered to Revolut’s 4.5 million customers in a swift and secure manner. Account information will only be accessible when a customer chooses to use a new product and actively agrees to share their information.
Francesco Simoneschi, CEO and co-Founder of TrueLayer, said: “Our partnership with Revolut and its resulting benefit for Emma’s customers is a great example of the quiet revolution taking place in the financial industry. We’re increasingly seeing how Open Banking is uniting successful companies so that they can offer more and more great services to consumers. I look forward to seeing how other businesses will use this partnership to offer innovative products to their customers.”
Edoardo Moreni, CEO and co-Founder of Emma, said: “Open Banking is set to disrupt an entire industry and we are thrilled to be part of this revolution. Revolut was the most wanted integration since they day we have launched. This is finally a reality, thanks to TrueLayer, and the power of Open APIs. Our users can now have access to all their balances, see the exact conversion in pound and manage their money like never before.”
TrueLayer’s partnership is its latest milestone in 2019, with the recent announcement of a $35 million funding round led by Tencent and Temasek, its expansion across Europe to Germany, France, Italy and Spain, the launch of payment initiation capabilities and partnerships with companies including Zopa, ClearScore, Plum, CreditLadder, Canopy, and ANNA Money.
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