Digital bank Revolut announced on Thursday the addition of American Express (AMEX) to its Open Banking feature. According to Revolut, the feature allows the bank’s 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.
Revolut further revealed that currently, a customer may 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.
“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.”
Revolut then added that its Open Banking offering has been built in partnership with a provider of financial APIs, TrueLayer. Using TrueLayer’s platform ensures account information from major banks and challengers is quickly and securely integrated and updated.
The addition of American Express to the Open Banking feature comes just days after Revolut announced the launch of Open Banking for its more than one million retail and business customers in Ireland.
“Currently, a customer can only access their Irish bank accounts’ details such as account numbers, balances and transaction histories through that bank’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 bank websites or apps.”