UK-based fintech company Revolut announced that it has extended its banking services to another European country, this time in Italy.
As it stands, users in Italy are now able to link their Poste Italiane, Banco BPM, UBI Banca, UniCredit, and their Intesa Sanpaolo bank accounts via the Revolut app.
This will allow them to synchronize their accounts and see all of them using a single app.
The speedy expansion of banking operations
Revolut has been expanding its banking operation and services across Europe since it was launched in February this year. The UK-based company recently opened its services in France and Ireland.
According to the report, the expansion into these regions was made possible by the collaboration with Truelayer, a provider of financial APIs. The account info from Challengers and major Italian banks was updated and integrated quickly via TrueLayer’s platform.
While speaking on the recent development, product owner of Revolut’s Open Banking, Joshua Fernandes, says the expansion will offer its customers in Italy the opportunity of managing their accounts more effectively. He said the launch in Italy will enable customers to view and manage their multiple bank accounts, which will allow them to monitor their daily spending across all networks and accounts. With this development, the company’s offerings will be more valued, more cost-efficient, faster, and more user-friendly, Fernandes said.
He also reiterated that the company is happy there are more opportunities for the facilitation of open banking, as it creates the potential to change the financial landscape for the future. Revolut said it’s proud to partner with TrueLayer to stay at the helm of the experience.
More Italians banks will be included
With Revolut’s operational base now covering Italy, the firm has the goal of adding more Italian banks. Revolut has kept the Open Banking tools free for all customers of Revolut. The fintech firm also intends to include more Italian banks in its services in the future.
Co-founder and Chief Executive Officer of TrueLayer, Francesco Simoneshi, echoed Resolute’s thought by saying the company is happy to be involved in such a great project.
“We’re delighted that our partnership with Revolut is continuing at pace with rollouts to support Open Banking taking place across Europe,” Simoneshi said.
He added that Truelayer is looking forward to the launch of the Revolut service in Italy because there is a huge opportunity for PSD2 and Open Banking in the country.