back Back

TrueLayer expands to Austria, Belgium, Denmark, Finland and Portugal

By Joy Dumasia

January 27, 2022

  • AIS
  • API
  • API Banking
Share

TrueLayerTrueLayer, Europe’s open banking platform, announced further expansion of its connectivity, adding Austria, Belgium, Denmark, Finland and Portugal for open banking data (AIS) and payments (PIS). It has also increased connectivity in existing markets, including the Netherlands and Spain, and as a result, added hundreds of new banks across a total of 16 European markets.

TrueLayer offers over 95%+ coverage of the banked population in major European countries. More than half of all open banking traffic in the UK, Ireland, and Spain is processed across its platform.

Through the addition of Portugal, TrueLayer now provides merchants in any industry access to aggregated and enriched financial data and account to account payments from Portugal’s 20 largest financial institutions, with a reach of more than nine million bank customers, equating to 99% total market coverage.

In Austria, data and payments connectivity has been added for 29 banks, including Raiffeisenbank, BAWAG and Bank Austria. Belgium sees 18 banks available for data and payments, including BNP Paribas Fortis, KBC and Argenta, while Denmark adds 50 new banks, including Nykredit, Jyske Bank and Spar Nord. In Finland, five banks have been added for data connectivity and payments, including Danske, OP Bank, and S-Pankki.

To support clients in delivering efficient and effective services across Europe, TrueLayer focuses on connectivity to banks covering most of the population and only through PSD2-compliant APIs. This includes investing time to rigorously test APIs to root out errors and edge cases that otherwise cause data connection errors or payment failures that could affect the uptake and customer satisfaction of our client’s services. 

Joe Morley, CEO Europe at TrueLayer, commented: “Working with our clients expanding across Europe, we know how important high-quality connectivity is to harness the full potential of open banking. We pride ourselves on making connections available only when we believe they are fit for purpose, rather than focussing on vanity metrics that ultimately don’t deliver the best results for our clients or their customers. That focus on quality is one of the reasons that open banking payments through TrueLayer convert on average 22% higher than they do through other providers in the UK. We’re continuing that model as we extend connectivity across Europe with the addition of hundreds of banks across these new markets. The result is a superior developer experience for our clients and a more reliable service for their customers.”

Previous Article

January 27, 2022

Tuum announces a €15m Series A funding round

Read More
Next Article

January 27, 2022

BPC extends market reach in Pakistan with UnionPay collaboration

Read More







Advertise with us



IBSi Daily News Analysis

payment-- MarPay. Pointspay

May 25, 2022

AIS

Why are Pointspay and MarPay gaining traction in the payment industry?

Read More

IBSi FinTech Journal

  • Most trusted FinTech journal since 1991
  • Digital monthly issue
  • 60+ pages of research, analysis, interviews, opinions, and rankings
  • Global coverage
Subscribe Now

Other Related News

Today

FOO to provide FinTech solutions in the Kingdom of Saudi Arabia

Read More

Today

3 Brazilian FinTechs revolutionising the financial sector

Read More

May 24, 2022

EML Open Banking expands into 20 new countries to complete its coverage of Europe

Read More

Related Reports

Sales League Table Report 2021

£ 1,500.00 / year

Know More
Emerging Technologies in Capital Markets

£ 500.00

Know More
Global Digital Banking Vendor and Landscape Report Q1 2022

£ 1,500.00 / year

Know More
Wealth Management & Private Banking Systems Report Q1 2022

£ 1,500.00 / year

Know More
Treasury and Capital Markets Systems Report 2021

£ 1,500.00 / year

Know More