What is Open Banking and how does it work?
Open Banking is a framework that allows you to share your financial data with third-party providers to access financial services, with your consent. It also lets you make payments from your account through third-party apps.
Open Banking was designed to enhance transparency, competition, and innovation in the financial industry. It lets you sync information between different business platforms, and overall helps you save time doing things securely online.
Types of integrations available with Open Banking
You can integrate your Revolut Business account with a range of other business platforms through Open Banking, such as:
- Accounting software (like QuickBooks, NetSuite, Odoo, Billomat, etc.)
- Loan products
- Budgeting and financial management apps
- Payment initiation services (PIS), letting you make payments directly from your account using third-party apps, without needing cards
Your explicit approval is required to access your financial data or to pay. Learn more in this FAQ. You can revoke this approval at any time.