Revolut releases API for business banking
The internet has improved our lives in every way imaginable, by allowing us to build the interconnected world we all live in.
About a month ago, we quietly released our Open API to Revolut for Business customers and the results were nothing short of amazing! Our business community is already using the API to simplify their payment operations and in doing so, save time, effort and eliminate frustration.
In this post, we wanted to give you a quick introduction to our Open API and show you how this feature will completely change the way you manage your business finances, for the better!
So, what is the Open API?
The internet as we know it is built on application programming interfaces, or APIs, in short.
An API allows different platforms to communicate with one another and do things they wouldn’t otherwise be able to. The end result? To provide better services to users just like you.
In plain English, APIs allow you to do things like ask Alexa to play your favorite song on Spotify, or allow you to log into the platform using your Facebook account. Banks however tend to stay away from APIs, preferring closed systems to open ones, in order to keep customers dependent on their services – sneaky, right?
Here at Revolut, we believe your money should follow you wherever you go on the web, allowing you to pay and get paid quickly and securely, however and whenever you want to – knowing that you’re always in control of your finances and not the other way around.
So, our Open API allows Revolut for Business users to automate their banking operations by acting as an interface through which external systems (such as your accounting software for example) can talk directly to Revolut systems – so that you can focus on running the business and not on boring admin tasks.