NatWest Introduces Open Banking Account Aggregation
NatWest will become the latest UK contender to join the ranks of open banking users. The bank has launched an account aggregation feature for customers to view balances and transactions from other financial providers within a single app.
The feature will take advantage of Open Banking rules, enabling customers to view accounts from 15 other banks within NatWest’s app.
“This is an important step in our mission to transform our digital services, focusing on digital innovation and using the latest Open Banking technology, to help make people’s banking lives easier," said NatWest Chief Digital Officer Frans Woelders. "This feature is the first in a number of innovations we are working on to help customers manage their money more effectively and improve their financial wellbeing.”
Woelders also stated that the feature is just the first in a range of upcoming new services, enabled by Open Banking legislation.