TrueLayer, sync. launch smart banking beta for Spanish banks

By Robin Amlot

Financial infrastructure firm TrueLayer has announced its partnership and expansion with digital smart open banking app sync., which will expand its list of supported banks to include those in Spain. Through its partnership with TrueLayer, the sync. app provides users with a single view across all of their bank accounts, allowing customers to consolidate and synchronise all of their finances.

The sync. app already supports banks and FinTechs in the UK, and addition of  banks in Spain marks their first Open Banking expansion into mainland Europe, and the option to add banks such as BBVA, Banco Santander, and CaixaBank will encourage more Spanish customers to use the app.

TrueLayer is also supporting sync. with account-to-account payments, enabling users to send money to anyone, anywhere, without having to enter card details or share their bank credentials. sync. allows users to send money to other sync. users free. With TrueLayer ensuring account information is updated quickly and securely, sync. users benefit from the app’s personalised insights into spending across accounts, credit cards and loans.

The sync. app moved to beta in August after the firm successfully completed its initial funding round, raising a total of £5.5m.

Francesco Simoneschi, CEO and co-Founder of TrueLayer, said: “sync. is a great example of a company who is leveraging the power of open banking to make money work better for consumers, helping them to get a better handle on their finances. We’re looking forward to working with sync., helping it to provide its users with greater financial insight through a transparent, secure, and seamless experience.”

Ricky Lee, CEO of sync., said: “Syncing all your finances to manage your money in one app is at the heart of what we do, and TrueLayer enables us to give that vital information to our users. We are looking to expand our Open Banking offering massively in the upcoming weeks and months with more banks, credit card companies and countries. I was born in Spain myself and we have an office in Malaga, so I’m proud to say that our first Open Banking expansion will be across Spain.”

Founded in 2016, TrueLayer is connected to major banks globally, backed by leading venture capital including Tencent, Temasek, Northzone, Anthemis, and Connect Ventures, and trusted by some of the biggest names in FinTech including Revolut, Crunch, and Zopa.