Digital banking app Revolut is launching a new feature called Open Banking for its more than one million customers in Ireland.

The new feature allows customers to connect their AIB, Permanent TSB, Ulster Bank and Bank of Ireland bank accounts to Revolut, making it possible to see all of their balances and transactions in the app.

Up to now, a customer can only access their Irish bank accounts - details such as account numbers, balances and transaction histories - through that bank's own online banking service or app. 

As a result, customers potentially have reduced visibility of this information, as the only way to see this information regularly is through accessing multiple bank websites or apps. 

The Open Banking feature is free to all Revolut customers.

Revolut said its business customers are currently able to link their business bank accounts with Permanent TSB and Ulster Bank, adding that it is working on including more banks in Ireland and the UK in the near future.

Joshua Fernandes, Product Owner for Open Banking at Revolut, said its retail and business customers in Ireland can now view and manage multiple Irish bank accounts, enabling them to interpret their day to day spending across all of their accounts.

"We're delighted to see that regulation that facilitates Open Banking is creating the potential to change our financial landscape for the better," he added.