The internet has improved our lives in every way imaginable, by allowing us to build the interconnected world we all live in. At Revolut, we believe your bank account can do the same for your business - and here's how:
About a month ago, we quietly released our Open API to Revolut 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 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.
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What kind of requests can you make through the Open API? 👨🏻💻
The API can be used for all kinds of automated systems, from the very simple to the very complex. For instance, you could set up an integration to receive an update every time a transaction lands in your account - useful, right?
Or, you could use it to make a mass payout to 5,000 contractors at the end of each day without the need to log into your online banking platform and upload never-ending spreadsheets - getting better, yes?
Without going into too much detail, you should know that all the requests are sent to the Open API along with a secret authentication key, unique to you and your business, which adds an extra layer of security to your banking operations - are you keen by now?
Don't worry - if you're hungry for more, jump to our API documentation page which describes the requests you can make and how to get set-up in no time.
What does the Open API mean for my business? 🕴
Whether you want to automate mass payouts, connect your accounting software or receive a notification whenever a payment is made, our API has your back.
The beauty of it all, is that it's completely up to you to decide which tasks you want to automate. And even if you're not sure where to start, we can pretty much guarantee there will always be ways to increase efficiency in your business, no matter the nature of your payment operations.
Many of our businesses are already developing bespoke integrations to reduce frictions and improve their products, and you should consider doing this too.
Since the API is designed to allow you to develop integrations that make sense for your business, the first step would be to define the processes you want to automate and from there, build the ideal integration - it's all coming together now.
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Sounds exciting, but how can I get access to the API? 🤷♀️
If you haven't already; Sign up for the 14-day free trial with Revolut Business.
Once your business has been onboarded, you can find your API keys in the settings section of the website.
Can others use the integrations I've built? 👭
If a product appears to work perfectly with Revolut Business, imagine building an integration between the two and sharing the joy with others!
For example, picture an integration between Revolut and an accounting software provider, that makes it easy to sync transactions in a couple of clicks. Wouldn't you want to help your fellow entrepreneurs save precious time by automating mundane tasks?
That's the dream, but we're not quite there yet. In the next months however, we’ll be introducing all the tools that make it easy for developers to build and test their integrations, as well as to share them with anyone and everyone.