Revolut brings open banking to Germany with the help of TrueLayer

Digital banking service Revolut has announced on Tuesday that it will now allow its German users to connect other bank accounts in the Revolut app for the first time.

The fintech is bringing open banking to its German users with the help of financial API provider TrueLayer, which has already helped Revolut launch in several other European countries including Ireland, France and Italy.

Joshua Fernandes, product owner for open banking at Revolut, said: "With the introduction of the Open Banking function, our offering in Germany will be even more competitive, user-friendly, fast and accessible."

"We are delighted that the legislators have created the framework for a new digital financial landscape and are personally very proud that Revolut and TrueLayer are pioneering in this respect."

As of today, Revolut's German users will be able to connect and interact with bank accounts from major German banks Comdirect, Commerzbank, Deutsche Bank, ING-DiBa and Sparkasse.

Revolut's German customer base will also be able to transfer funds between accounts, budget across several different accounts and send money to friends and family from their linked accounts all from the Revolut app.

Francesco Simoneschi, co-founder and CEO of TrueLayer, added: "The introduction of open banking with Revolut in Germany also marks a significant expansion for us in the country."

"As the leading open banking platform in Europe, our collaboration with Revolut is continuing at pace and this is just the beginning of what will be a fruitful partnership bringing further innovation to the German market."