Revolut launches account aggregation feature in Ireland

Sounds like great idea, however, I would worry somebit about the security issues, having all your eggs in one basket etc.
 
Saavy99 said:
Sounds like great idea, however, I would worry somebit about the security issues, having all your eggs in one basket etc.
Click to expand...

This is not an idea by Revolut, it falls under the PSD2 European Regulation for Open Banking. My KBC account already has this feature, you are allowing read access only to view all accounts in one location. The service is provided by a 3rd party API, which is the company most banking partners use to my knowledge.

There is no incremental security risk, your Revolut account is secured by the same security as before.
 
Tried linking to my PTSB accounts from Revolut and the process was straightforward. The access is read-only.
Its actually an easier way to view my PTSB accounts than using the PTSB app which has a more complicated login process.
 
I added my BOI account to Revolut yesterday hoping to use its analytics to monitor spending etc (and replace Toshl) but nearly all of the transactions have been categorised as 'Transfers' rather than meaningful categories like shopping, restaurants etc. Is this working correctly for anyone with other banks?
 
TarfHead said:
Not sure that the API is 3rd party. I believe each bank wrote their own, to an agreed standard. And the access is, I think, read-only.
Click to expand...

From the article, at least built in part with a 3rd party. This is why it can be relatively easy to start a Fin Tech as you don't have to develop everything internally. Although many incumbents will prefer to do it themselves

The new Open Banking offering has been built in partnership with financial API provider TrueLayer. The collaboration also marks TrueLayer’s launch into the Republic of Ireland.
 
I think KBC had this feature but it seems to be gone. Also interestin to see that KBC is one of the banks that can't be added. Any ideas why?
 
Tried linking Revolut to my BOI account. Keeps failing out at the last stage. Anyone else having any issue linking?
 
You must log in or register to reply here.
Back
Top