The company has upgraded its Data API service so that fintech firms can now directly access financial data from a variety of open banking APIs in one single platform. TrueLayer is authorised to provide account information and payment initiation services through open banking. The company hopes that its updated Data API service will help businesses save both time and money by unifying APIs in one place.
Open APIs, which are also known as Public APIs, are used by a company to give consumers universal access to a service or platform that they have developed. The Open API refers to the specific software that is deployed, allowing another company to “communicate” with the original service.
TrueLayer alone boasts partnerships with Zopa, which provides fast income verification for banks, Canopy, which automatically updates customers’ rental information, and Anorak, which provides faster and more accurate insurance quotes. The company has also integrated with ClearScore, CreditLadder, BitBond, Plum and Emma, with further partnerships expected to be announced.
Every day we send out a free e-mail with the most important headlines of the last 24 hours.
Subscribe now