Revolut launches Open Banking in Italy

By Daniel Lanyon on Tuesday 4 August 2020

Digital Banking

The new service will be offered free for Revolut’s 400,000 Italian retail and business customers.

Revolut launches Open Banking in Italy
Image source: Revolut

Revolut has launched open banking for its over c.400,000 retail and business customers in Italy, following on from the rollout of the account aggregation functionality in the UK and France. 

As with its offering in these countries, the Italian version was built in partnership TrueLayer.  

Revolut customers in Italy can now connect their Intesa Sanpaolo, UniCredit, UBI Banca, Banco BPM, Poste Italiane bank accounts to Revolut, making it possible to see all of their balances and transactions in its app. Customers can track their spending and set budgeting controls. 

Joshua Fernandes, Product Owner for Open Banking at Revolut, said: We’re delighted to see that regulation that facilitates Open Banking is creating the potential to change our financial landscape for the better.” 

Francesco Simoneschi, co-Founder and CEO of TrueLayer, says he anticipates Open Banking will be incredibly popular in Italy. 

“I've been particularly looking forward to our launch with Revolut into Italy because I know that there is a huge opportunity for Open Banking and PSD2 to bring much-needed innovation to the traditional financial sector in my home country.”  

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