The startup offers an open banking platform that enables secure access to financial data and payment initiation through a unified application programming interface (API) that connects to various banks' open APIs. This technology allows businesses to efficiently retrieve financial information, enhancing customer experiences in banking, lending, and money management.
Funding
$70.7M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Many businesses face challenges in efficiently accessing financial data and initiating payments across different banks due to fragmented systems and lack of standardized APIs. This complexity increases operational costs, hinders innovation, and creates friction in customer experiences.
Solution
Yapily provides an open banking API platform that enables businesses to securely connect to over 2,000 banks and institutions across the UK and Europe. The platform offers a unified interface for accessing financial data, validating account details, and initiating payments, including bulk and variable recurring payments. By abstracting away the complexities of individual bank integrations, Yapily allows businesses to streamline operations, reduce costs, and accelerate the development of personalized financial experiences. The platform is PSD2 compliant, ensuring secure and regulated access to open banking functionalities without the need for additional licenses through Yapily Connect.
Target Audience
Yapily targets fintech companies, payment service providers (PSPs), lenders, digital banks, crypto platforms, and businesses in accounting, investing, iGaming, and other industries seeking to leverage open banking for improved financial services.
Features
- Unified API for accessing financial data and initiating payments across multiple banks
- PSD2 compliant connectivity, ensuring data security and regulatory adherence
- Support for account information services (AIS) for real-time insights and transaction categorization
- Payment initiation services (PIS) for instant, secure account-to-account payments
- Solutions for bulk payments, variable recurring payments (VRP), and commercial VRP
- Tools for instant customer detail and account owner validation
- Customer console for managing integrations and accessing API documentation
- White-label approach, allowing full control over the user experience