Trust is the foundation of open banking. As payment flows and data access increasingly move away from traditional card rails, regulators, banks, merchants, and consumers all need confidence that open banking infrastructure is secure, well-governed, and accountable.
At Yapily, compliance is not a tick-box exercise. It is a core part of how we design, operate, and scale our open banking platform across the UK and Europe.
Yapily is one of the largest regulated open banking providers in the EU, operating since 2018. Our compliance framework is designed to protect merchants, payment service providers, and end consumers, while supporting the long-term stability of the open banking ecosystem.
Is Yapily a regulated open banking provider?
Yes. Yapily Connect Ltd and Yapily UAB are fully regulated open banking providers operating under regulatory supervision in both the UK and the European Union.
Being regulated means that Yapily must meet strict requirements around governance, risk management, security controls, financial crime prevention, and consumer protection. These requirements are continuously assessed by the auditors, monitored by our regulators and embedded into our day-to-day operations.
Who regulates Yapily in the UK and the EU?
United Kingdom
In the UK, Yapily is regulated by the Financial Conduct Authority.
Yapily Connect Ltd is authorised and regulated by the FCA, and our Financial Services Register reference number is 827001. This registration confirms that Yapily meets the FCA’s standards for regulated payment and open banking activities.
European Union
In the EU, Yapily is regulated by the Bank of Lithuania.
Our EU-regulated entity operates under the trading name Yapily Connect UAB. This regulatory oversight enables Yapily to support open banking use cases across multiple European markets while complying with local and EU-wide regulatory frameworks.
Operating under both UK and EU regulatory regimes allows Yapily to support customers with cross-border payment and data use cases while maintaining consistent compliance standards.
How Yapily onboards and monitors customers
Yapily has built a robust compliance framework that covers the full customer lifecycle, from onboarding through to ongoing monitoring.
Client acceptance and risk assessment
Every prospective customer is assessed in line with Yapily’s customer acceptance policy. This ensures that the business model, sector, and intended use of Yapily’s services align with regulatory requirements and our internal risk appetite.
Identity, ownership, and governance verification
As part of onboarding, Yapily verifies the identities of all relevant individuals associated with a customer company. This includes directors, shareholders, ultimate beneficial owners and authorised signatories. These checks help ensure transparency around ownership and decision-making structures.
Business operations and transaction profiling
Yapily conducts verification checks of its customers' business operations to understand how payment and data services will be used in practice. Expected transaction types, volumes, and flows are reviewed to ensure they are consistent with the customer’s stated activities.
Ongoing monitoring and screening
Compliance does not stop at onboarding. Yapily continuously monitors customers throughout the relationship, screening for changes in behaviour, transaction patterns, or risk indicators. This ongoing oversight allows potential issues to be identified and addressed early.
Complaints monitoring and consumer protection
Yapily monitors complaints and customer feedback as part of its broader compliance framework. This helps identify potential issues affecting end consumers and ensures that concerns are handled fairly, transparently, and in line with regulatory expectations.
Why Yapily’s compliance framework matters
For our partners, our compliance framework delivers tangible business value:
Reduced operational and regulatory risk when launching open banking payments or data services
Greater confidence from banks and financial partners
Faster procurement and due diligence for enterprise customers
Stronger protection for end consumers using Pay by Bank and other open banking services
By embedding compliance into our platform, Yapily enables customers to innovate and scale while meeting their own regulatory obligations.
How to contact Yapily’s compliance team
If customers have any questions or concerns about Yapily’s products or services, or wish to raise a complaint, they can contact our compliance team directly at complaints@yapily.com.
Our team is committed to investigating and resolving issues promptly, transparently, and fairly.