Revolut Expands Open Banking Services to Ireland

Revolut, the London-headquartered challenger bank, has extended its open banking services for its customers in Ireland, allowing them to connect their third-party bank accounts with their Revolut account.

To bring this service, Revolut has partnered with TrueLayer, the startup which also landed across the Irish sea for the first time.

For now, the Irish users of Revolut can only add bank accounts with AIB, Permanent TSB, Ulster Bank, and Bank of Ireland, however, the two partners have plans to add support for more banks.

The business customers of the fintech firm can only connect their baning accounts with Permanent TSB and Ulster Bank.

Revolut has around 1 million customers in the Republic of Ireland all of whom can utilize the new services without any extra cost.

“We’re delighted to see that Regulation Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Read this Term that facilitates Open Banking is creating the potential to change our financial landscape for the better,” Joshua Fernandes, product owner for Open Banking at Revolut, commented.

Revolut first launched the open banking feature last February only for its UK-based clients.

Note that for now, Revolut clients can only check their bank account balance and other transaction details from the financial application, along with some additional budgeting features.

The London-based startup also received permission from the Payment Initiation Services (PIS), meaning it can roll out services for its UK-customers to even initiate banking transactions directly from its application.

Rise of digital banks

Launched in 2015, Revolut became the UK’s most-valued fintech startup after raising $500 million earlier this year.

The company is also focusing on international services and now has services in Singapore, Australia, and the United States, apart from the United Kingdom and Ireland.

The platform is also preparing for the impact of Brexit Brexit Brexit stands for British Exit, or in reference to the United Kingdom’s decision to formally leave the European Union (EU) as declared in a June 23, 2016 referendum. In a more immediate sense, a tight vote and unexpected result helped drive British pound (GBP) to lows that had not been seen in decades.The day following the referendum, former Prime Minister David Cameron resigned from office where he was replaced by Theresa May, who later resigned from office on June 7th, 2019. Active Prime Minis Brexit stands for British Exit, or in reference to the United Kingdom’s decision to formally leave the European Union (EU) as declared in a June 23, 2016 referendum. In a more immediate sense, a tight vote and unexpected result helped drive British pound (GBP) to lows that had not been seen in decades.The day following the referendum, former Prime Minister David Cameron resigned from office where he was replaced by Theresa May, who later resigned from office on June 7th, 2019. Active Prime Minis Read this Term on its European services and has moved 300,000 clients’ accounts to a Lithuania-licensed bank.