How to find the best open banking platform for you: five options

If you’re searching for the best open banking platforms, it’s likely that your current solution isn’t working well enough for you. Whether or not you’re already using open banking, maybe you’re:

• Not accessing the customer data you need in real-time (whether for KYC processes, account aggregation, or affordability checks)

• Paying high fees for payments that take days to settle

• Offering an inflexible user experience that’s reducing conversion and usage

• Experiencing limitations on the number of banks you can connect to in specific geographies. 

Open banking platforms can help you solve many of these problems, which is why we’ve put together a list of the top platforms. However, there’s no single solution that will be “best” for every merchant, payment services provider (PSP), financial institution, or other user that wants to use it. 

It’s important to find a platform that meets your unique needs as a business. And in this guide, we share the considerations you need to make to find the best fit for you. 

Want to discuss your needs with an open banking expert? Reach out to us. 

Five best open banking platforms compared

All information is sourced from the platforms’ respective websites and is correct at the time of writing (November 2025). Where it is not clear whether a particular service is offered, we have said so.

What to look for in an open banking platform

Every open banking platform uses the same API technology to process direct account-to-account payments and/or support data services. However, the specific services these platforms offer will often differ. 

So, how do you actually choose the right open banking platform for your needs? Consider these 5 factors.

• Coverage. Coverage refers to the specific banks and financial institutions that an open banking platform connects with in different geographies. 
  
  It’s a fundamental consideration for anyone looking for a solution because it will determine the specific markets in which you can offer your services. For instance, you’ll see some platforms that are strong in North America, while others have a higher number of connections in Europe or other regions. 
  
  Ideally, you would choose a solution with high coverage in all the regions in which you operate. The alternative is that you have to use multiple providers to cover different geographies.
  

• Data. If you’re looking to use open banking data to offer account aggregation, customer validation, or affordability checks, you’ll need to use an account information services provider (AISP). Many open banking platforms don’t have this authorisation and therefore only offer payment services (more on this below).
  
  However, many AISPs will only offer the minimum of raw, unprocessed data that you’ll need to make sense of. Alternatively, you might want enriched data — data that’s been standardised and categorised so that it’s more easily used and provide greater insights. 
  

• Payment. To support open banking payments, you’ll need a platform that’s authorised as a payment initiation service provider (PISP). Significantly, open banking platforms can be both a PISP and an AISP. 
  

  However, just because a platform is a PISP it doesn’t mean that they’ll offer a full range of payment types, including instant payments, bulk payments, and variable recurring payments. Plus, they may not offer these payments in all geographies.
  

• Infrastructure. One of the key differences among open banking platforms is the kind of product they actually sell. 
  
  For instance, some providers offer a prebuilt application that can be used by your end customers. This can be very convenient if you want to get started quickly. However, the app itself is often not very customisable (if at all).
  
  Other providers offer a direct connection to the API on which open banking depends. They supply the core infrastructure on which you can directly integrate your own solution, or use their hosted solution for a much more customisable approach. Obviously, this requires greater input from you, but it gives you much more creative control over the user experience. 
  
  There’s no right answer here. It’s up to you to choose a solution that you prefer. 
  

• Business account connectivity. Not all open banking platforms offer a wide range of consumer and business account connectivity. This is because open banking platforms test their APIs with real customer accounts — and it’s difficult to find businesses that are willing to offer their accounts for testing. 
  
  While most will cover consumer accounts, comprehensive business account coverage is rarer. That means if you’re looking to offer business account aggregation or merchant onboarding KYC checks, you’ll have fewer options to choose from.
  
  Find out more: Open banking for business accounts: What you need to know

The best open banking platforms in detail

Now you know the kinds of features to look for, it’s time to compare some of your options. 

Here are six open banking platforms to consider. We’ll start with Yapily, our own open banking infrastructure platform. 

1. Yapily

Yapily is an open banking platform with extensive coverage in Europe. Our API can support you to connect with consumer and business accounts at banks and financial institutions in 19 countries across the continent. 

We’re not like other open banking platforms that just sell simple, prebuilt payment flows. Instead, we also build and maintain the infrastructure of open banking—namely, the technology on which you can develop your own products. 

This way, you can rely on our API technology, but provide a user interface that matches your brand, content, and capabilities. It means having the flexibility to serve your end users in the way that you know best. 

Here, we dig into the details of why Yapily can be the best open banking platform for you. 

Connect with consumer and business accounts at financial institutions across Europe

Without the right coverage, you won’t be able to connect with end users in your target markets. Or you’ll have to juggle multiple open banking APIs (and their associated costs) in different regions. 

Alternatively, you can simply rely on Yapily’s extensive coverage in Europe to support your operations in the market where open banking adoption is highest. 

We connect with about 2,000 banks in 19 countries in Europe, including in key markets such as the UK, France, Germany, and the Netherlands. This way, you can scale reliably wherever you want to grow on the continent. 

We have also tested and fixed coverage of business accounts in all the markets we enter. It means that you can trust our solution whether you work in B2B or B2C use cases.

Rely on Yapily for both data and payment services

At Yapily, we’re authorised as both a PISP and an AISP. It means that we can support you to offer both payments and data services in the geographies where we have coverage.

In terms of data, Yapily supports use cases including:

• Instant account verification. You can immediately validate customers by verifying their account ownership in real time.

• Affordability checks. Use our platform to access transaction histories, account holder and bank names, real-time balances, and more. 

• Account aggregation. If you’re offering a platform in personal finance management, for instance, Yapily can help you bring data from different customer accounts together in the same place.

With Yapily Data Plus, you can benefit from our own powerful data enrichment engine. To make it easier to immediately make sense of customer financial data, we organise transactions into over 100 categories, standardise merchant names, and identify patterns of transaction recurrence.

Even if you don’t need to offer both data and payment services immediately, it makes sense to choose a solution that does both. This way, you won’t have to return to the market again in future—and you won’t need to integrate into another API. 

Offer a range of innovative payment types

Alongside our powerful data products, you can make use of an extensive range of innovative types of payment, including:

• Instant Pay by Bank Payments. Open banking payments are settled instantly, directly from one account to another—with no intermediaries. It helps you save on costs, while allowing the recipient to access funds much more quickly.

• Bulk Payments. You can save further on transaction fees by processing multiple payments in bulk in a single transaction.

• Sweeping VRP. You can automate recurring payment of variable value between accounts of the same owner. For instance, end users can set up rules to automatically transfer funds from an account whenever it reaches a certain sum.

We have one of the widest ranges of data and payment services of all open banking platforms in Europe. It gives you extra flexibility to support your merchants in the way that they want.

Offer the experience that’s right for your merchants with white label or hosted payment flows

If you’re a PSP, you’ll want to offer your merchants the experience that best suits their end users. With our flexible user flows at Yapily, you can do exactly that. 

We offer:

• Custom white label infrastructure through our Direct Integration. This allows you to build applications at the product layer that are completely custom to you. It gives you much greater flexibility over your user experience.

• Hosted Solutions. On the other hand, our prebuilt templates and hosted solutions let you get started more quickly. It means you don’t need to build your own flow from scratch, which can be a great option for those who want to get to market quickly while their white label solution is being created. 

Interested in finding out more? Read about our white label payment solutions here. 

How Emma uses Yapily to help people make better financial decisions

Emma is a personal finance management app that allows users to track their spending, budget more effectively, and make better financial decisions. 

To do this, Emma relies on open banking. Using Yapily, Emma aggregates data from its users’ various bank accounts to build a complete picture of their spending habits. This is possible only thanks to Yapily’s extensive coverage and simple user experience.

But Emma now also leverages Yapily Payments too, to allow users to not only get clarity on their spending but to invest money, pay their contacts, and move funds from one account to another. 

Since using Yapily, Emma is regularly rated as the top personal finance app in the Apple App Store. And it saw a 267% month-on-month increase in transaction value through its investment top-ups. 

Find out more: How Emma + Yapily are helping people make smarter financial decisions

1. Token

Token focuses on the European market, where it has coverage in 21 different countries. 

Key features:

• Data and payments. Token is both an AISP and PISP, meaning it can support both payment and data services.

• No data enrichment. Token makes no mention of data enrichment services on its website. For a more reliable data service, you may need to look elsewhere. 

• Hosted and white-label infrastructure. With Token, you have the choice over what kind of experience to offer. 

2. TrueLayer

TrueLayer offers open banking connectivity across major European markets, including the UK, Ireland, France, Germany, Spain, Italy, the Netherlands, Portugal, and several Nordic countries.

Key features:

• Data and payments. TrueLayer acts as both an AISP and PISP, supporting account information and payment initiation services.

• Hosted and white-label options. The platform supports both hosted payment pages and fully white-label integrations through its Payments API.Variable recurring payments (VRP). TrueLayer supports VRP in the UK.

2. Tink

Tink is an open banking solution that’s now owned by Visa. Its coverage focuses on the European market and is active in 18 countries. 

Key features: 

• Data and payments. As an AISP and PISP, Tink supports both data and payment services. It also offers data enrichment and transaction categorisation.

• Preference for hosted user flows. Tink pushes its pre-built user interface, with white-label infrastructure available only at an extra cost.

• Business account connectivity. You can use Tink to connect with consumer and business accounts. 

3. Salt Edge

Salt Edge operates in over 40 countries globally. However, its broadest coverage is in the UK.

Key features: 

• Both AISP and PISP services, so you can access data and payments through one platform.

• White-label infrastructure alongside hosted user flows. 

• Business account connectivity. You’ll be able to connect to business and consumer accounts in regions that Salt Edge covers. 

Book a demo with Yapily to explore our regulated open banking infrastructure for the UK and Europe.

In this guide, we’ve shared some of the key features to look for in a top open banking platform, and shown you how some of the biggest names in the industry compare. 

If you’re looking for data and payment services for all consumer and business use cases, choose Yapily. We have some of the most extensive coverage in Europe, and we give you the flexibility you need to best support your customers.

Ready to find out more about what makes Yapily one of the best open banking platforms out there? Book a demo to speak to an expert. 

Yapily Ltd is authorised and regulated by the Financial Conduct Authority under the Payment Services Regulations 2017 for the provision of Account Information and Payment Initiation Services with no. 10842280.

Yapily provides open banking connectivity and data-enrichment infrastructure to business clients. Yapily does not provide financial advice or assume clients’ compliance responsibilities (including AML, KYC, or consumer-protection obligations).

Benefits such as faster settlement, cost reduction, or improved conversion depend on each client’s implementation and payment scheme performance.

All coverage data and comparative information are based on publicly available sources as of November 2025 and may change.