The new Open Banking feature allows Revolut's retail customers to connect their Crédit Mutuel, Caisse d'Epargne, Banque Populaire, Crédit Agricole, Société Générale, BNP Paribas and Hello Bank! bank accounts to Revolut, allowing them to view all their balances and transactions in a single app.

Invidivuals with several bank accounts who do not use an aggregator often have reduced visibility of all their bank accounts due to the need to access multiple websites or banking applications. Revolut pursues its goal of making it easier for as many people as possible to manage their financial life in a fast, easy and frictionless way.

Revolut's new Open Banking offer was designed in partnership with financial API provider TrueLayer. The use of the TrueLayer platform guarantees the rapid and secure integration and updating within Revolut of account information from the main French banks. The collaboration also marks a major expansion of TrueLayer's operations in France.

Thanks to Open Banking, more than one million individual customers can now connect their bank accounts to Revolut and see everything in one place, from their various balances to all their transactions within the Revolut app, offering greater control over all their personal finances.

In the near future, Revolut also plans to allow French customers to top up their accounts directly from one of the linked external accounts. The Open Banking product is free of charge for all customers.

Joshua Fernandes, Product Owner Open Banking at Revolut, says :
"With the deployment of our Open Banking product, our customers in France can now consult and manage several bank accounts in the same place, allowing them to have a global view of their daily expenses without having to switch from one banking app to another. We are delighted to see the new regulations facilitating a more open banking world, for the benefit of the greatest number of people. Revolut and TrueLayer are now at the forefront of this experience.”

Francesco Simoneschi, co-founder and CEO of TrueLayer, says :

"Launching Open Banking for Revolut's customers in France marks a big expansion of our operations in the country. We're delighted that our partnership with Revolut is going from strength to strength following the successful roll out of Open Banking services in the UK and the Republic of Ireland. There has been a certain degree of scepticism regarding the progress of PSD2 in the EU, however, this partnership shows that it is advancing at pace."Revolut's customers in France will now start to be able take advantage of all the benefits of Open Banking, enabling them to have a much more comprehensive view of their finances, as well as greater control and oversight. We're certain that, with France's reputation for technological innovation, that both consumers and businesses will be quick to recognise these benefits and embrace Open Banking. We're looking forward to supporting Revolut in their mission to build more great customer experiences."

Revolut Ltd is authorised by the UK regulator, the Financial Conduct Authority, as an Electronic Money Institution (EMI) and is licensed to provide Account Information Services (AIS) and Payment Initiation Services (PIS). Revolut Ltd. is also authorised to carry out these AIS and PIS in other countries, including France. Revolut allows customers to authorize the presentation of their transactions from a French bank account in the Revolut application via that bank's secure Application Program Interface (API).

Once they have given their consent to Revolut, the fintech can request accounts information from the customers' external banks and display it in the Revolut app.

If Revolut's clients have access to their French bank's app, Revolut will communicate directly with the external bank's app in order to retrieve balances, transactions and expenses. If a customer does not have access to his bank's app, he will be asked to connect to the bank's online banking service. At no time during this process does Revolut have access to the customer's login information on their external bank account, securing the entire interaction.