How to reconcile business payments automatically across multiple bank accounts using open banking

Yapily enables automated reconciliation of business payments by providing near real-time access to transaction data from multiple bank accounts through open banking APIs.With continuous visibility into incoming and outgoing payments, businesses can reduce manual tasks, minimise errors, and close books faster.

Why automate reconciliation with open banking?

For finance and operations teams, manual reconciliation is slow and error-prone. Downloading statements, matching invoices, and correcting discrepancies across several accounts delays cash-flow visibility and increases the risk of mistakes.

Open banking simplifies this by providing a secure, continuous data feed directly from banks. With Yapily’s Account Information Services (AIS), your platform can:

• Pull transaction data automatically from multiple accounts

• Standardise and enrich that data for easier matching

• Match transactions to invoices or receipts as soon as they’re posted by the bank

This enables:

• Streamlined daily reconciliation and reporting

• Reduced manual errors and duplication

• Full visibility across regions, currencies, and entities

• Audit-ready, scalable reconciliation processes

How automatic reconciliation works with Yapily

Here’s how reconciliation can be automated using Yapily:

1. Connect business accounts: Use Yapily’s single API to connect to accounts across over 2,000 European banks.

2. Retrieve transactions: Once consent is granted, Yapily retrieves balances and transactions, including reference, amount, currency, and counterparty, as soon as data is available from the bank.

3. Standardise data: Yapily normalises transaction data into a consistent format, ready for integration with your ERP or accounting software.

4. Apply matching rules: Your system can match transactions to invoices or receipts using identifiers like invoice numbers, payment amounts, or dates.

5. Reconcile and flag exceptions: Matched transactions are marked as reconciled, while discrepancies are flagged for review.

This creates a near real-time, automated reconciliation process that improves accuracy and saves time.

Implementation tips for automated reconciliation

To get the most from open banking reconciliation:

• Ensure broad coverage. Yapily supports over 2,000 banks across 19 European countries.

• Integrate with your ERP or accounting platform to post matches automatically.

• Use Yapily Data Plus to enrich transactions with merchant and category metadata (Beta coverage for some business accounts).

• Handle multi-entity and multi-currency setups with consistent mapping rules and exchange-rate logic.

• Create dashboards and alerts for unmatched or low-confidence transactions.

• Maintain oversight to manage exceptions and edge cases.

Automation reduces effort, but human review remains key for anomalies or data gaps.

Why choose Yapily for reconciliation

With Yapily, you can:

• Access near real-time transaction data from more than 2,000 banks

• Reconcile multiple business accounts through one secure API

• Replace manual statement downloads with automated data feeds

• Combine reconciliation with Yapily Payments (PIS) for end-to-end automation

• Stay compliant with PSD2 

Platforms from accounting software to treasury tools use Yapily to power faster, more accurate financial workflows.

FAQs

1. How does Yapily help automate payment reconciliation?

Yapily connects directly to business bank accounts via open banking APIs, pulling transactions into your platform to enable automated invoice matching and reconciliation.

2. Can Yapily reconcile data across multiple banks and currencies?

Yes. Yapily supports more than 2,000 European banks and delivers data in a standardised format, making it easier to reconcile across currencies and regions.

3. What systems can Yapily integrate with?

Yapily’s API integrates seamlessly with ERPs, accounting tools, or custom finance systems using a single connection.

4. Does Yapily provide enriched data for better matching?

Yes. Yapily Data Plus adds categories and merchant metadata to raw transactions, improving match accuracy.

5. How fast is reconciliation using open banking?

Once accounts are connected, transactions update in near real time, enabling same-day reconciliation and continuous cash-flow monitoring.