Revolut exports Open Banking to France




        Revolut a annoncé le lancement de l'Open Banking pour plus d'un million de clients en France. 

La nouvelle fonctionnalité Open Banking permet aux clients particuliers de Revolut de connecter leur Crédit Mutuel, Caisse d'Epargne, Banque Populaire, Crédit Agricole, Société Générale, BNP Paribas et Hello Bank! des comptes bancaires à Revolut, leur permettant de visualiser tous leurs soldes et transactions dans une seule application. Les particuliers possédant plusieurs comptes bancaires qui n'utilisent pas d'agrégateur ont souvent une visibilité réduite de tous leurs comptes bancaires en raison de la nécessité d'accéder à plusieurs sites Web ou applications bancaires. Revolut poursuit son objectif de permettre au plus grand nombre de personnes possible de gérer leur vie financière de manière rapide, simple et sans friction.

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

Thanks to Open Banking, more than a million individual customers can now connect their bank accounts to Revolut and see everything in one place, from their different balances to all their transactions in the Revolut application, offering better control over all of their personal finances.

In the near future, Revolut also plans to allow French customers to recharge their accounts directly from one of the linked external accounts. The Open Banking product is free 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, which allows them to have a global vision of their daily expenses without having to switch from a banking application to another. We are delighted to see the new regulations facilitate a more open banking world, for the benefit of the greatest number. Revolut and TrueLayer are now at the forefront of this experience.

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

“The launch of Open Banking for Revolut customers in France marks a strong expansion of our operations in the country. We are delighted that our partnership with Revolut is strengthening following the successful deployment of Open Banking services in the United Kingdom and the Republic There is some skepticism about the progress of PSD2 in the EU, but this partnership shows that it progresses at a sustained pace. “Revolut customers in France will now begin to be able to take advantage of all the benefits of Open Banking, allowing them to have a much more complete view of their finances, as well as greater control and surveillance. We are certain that with France’s reputation for technological innovation, consumers and businesses will quickly recognize these advantages and adopt Open Banking. We look forward to supporting Revolut in its mission to create exceptional customer experiences. ”

Revolut Ltd is authorized by the UK regulator, the Financial Conduct Authority, as an electronic money institution (EMI) and is authorized to provide Account Information Services (AIS) and Payment Initiation Services ( PIS). Revolut Ltd. is also authorized 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 this bank’s secure application program interface (API).

Once it has approved Revolut, fintech can request account information from clients’ external banks and display it in the Revolut app.

If Revolut customers have access to the application of their French bank, Revolut will communicate directly with the application of the external bank in order to recover balances, transactions and expenses. If a customer does not have access to their bank’s application, they 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 connection information on its external bank account, securing the entire interaction.


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