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Aware: 2020-11-12 10:48
Photo by Judita Grigelyts (V)
Revolut, a UK fintech startup, has introduced features to clients in Lithuania, allowing them to view their SEB and Swedbank accounts.
Lithuanian consumers will be able to track their SEB and Swedbank account balances and payment transaction history through the program, top up their Revolut account.
Open banking functionality is available to all Revolut customers in Lithuania, which exceeds 300,000, according to the company’s press release, both for those who have chosen to become Revolut Bank customers and the remaining Revolut customers. Payments. With the customer’s consent, Revolut will ask another bank to provide their account information in the Revolut program.
Revolut adds that in the future Revolut’s open banking functionality will be supplemented by other banks operating in Lithuania.
Our goal has always been to help companies manage their finances quickly, easily and comfortably. The open banking decision will certainly contribute to this, as clients will be able to view multiple bank accounts in one program and use the most advanced budget planning tools on the market, Virgilijus Mirks, head of Revolut in Lithuania, is quoted in the report.
According to him, the population of Lithuania has almost 4.6 million. active bank accounts, so the need to see them all in one place, without switching between several different programs, has the majority of the population.
The functionality of open banking in Lithuania started a little differently than expected, because the first to apply the solution were not start-ups, but banks. For more than a year now, SEB and Swedbank customers have been able to view both bank accounts under one account.
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