London, Berlin, 10th November 2020: Leading enterprise connectivity platform Yapily has today launched in Germany as it turns its attention to drive open banking adoption for organisations across Europe.
Fintech has transformed the global financial services landscape with Germany considered one of the biggest fintech markets in the world. With disruptive fintechs such as N26 and Wefox Group, companies have firmly established their presence in the marketplace.
Based in the UK, Yapily now launches operations in Germany. Where technological innovation and application are key drivers for the German marketplace, application programming interface (API) connectivity is developing in the region. Yapily will provide it’s API-only platform for companies to reap the benefits of open banking, unlocking new revenue streams and product innovation.
Yapily enables customers to seamlessly connect; securely access financial information and payment infrastructure, accelerating local fintech players. Through its technologies and services, Yapily is helping German businesses scale internationally, while also supporting international businesses entering the German market. Accordingly, Yapily is providing its partners with powerful infrastructure to boost their user experience, while remaining invisible behind the scenes, giving customers complete control.
The Germany office will be led by Chris Scheuermann, the newly appointed Commercial Lead for the region. Scheuermann has long-standing experience in the sector, having worked for PayPal and finleap. Going forward, Yapily plans to expand its presence in the region and grow its local team.
Stefano Vaccino, Founder and CEO of Yapily, said: “Germany is a source of innovation and has always been a key hub for banking and financial services. We are looking forward to starting operations in this market, bringing our first-class API infrastructure to the region. With this strategic market entry we will further drive open banking adoption and its benefits to financial sectors including payments, lending and accounting software”.
Yapily uniquely facilitates connectivity with European banks to access open banking data, with more than 80% bank coverage. Using a single open API, Yapily’s clients in Germany can now access the financial data they need to enrich the end-user experience. From aggregating, categorising and enriching account information, to initiating payments and transactions, businesses gain the visibility to offer personalised financial products and services. Yapily enables companies to connect and access financial information in payments, lending and accounting software. It boasts Fortune 500 companies and fast growth fintechs across Europe including American Express, IBM, BUX and GoCardless.
Chris Scheuermann, Commercial Lead DACH at Yapily, added: “Yapily offers market leading technology that is ahead of the competition, due to its "Open API first" approach. With no screen scraping or reverse engineering, this ensures all parties are getting the performance, scale, and security expected of such a critical piece of API infrastructure. We are pleased to bring this innovation to the German marketplace and I’m looking forward to building a local team of leading experts”.
As part of the German market expansion, Yapily is deploying a local team and API platform that will strengthen the capabilities of domestic players in Open Banking to power any financial application and provide access to a global network of industry leading experts. The expansion lends support to the emerging interest in Open Banking and API innovation and fosters connections with the UK ecosystem. Yapily is backed by Holtzbrinck Ventures, LocalGlobe and leading European VC firm Lakestar, an early investor in Skype, Spotify, Airbnb and Facebook as well as some of Europe’s biggest fintechs – Klarna and Revolut.