Using TrueLayer’s unified Data API will mean that businesses, especially fintechs, will be able to avoid integrations of the dozens of fragmented banking APIs in Germany and across Europe.
The Data API aims at removing the obstacles for applications seeking to build bank-data enabled services including:
Account verification/KYC
Personal finance management
Lending
Rental and real-estate.
The platform opens up access to bank data for all of Germany’s major banks including Deutsche Bank, Sparkassen and Commerzbank.
TrueLayer will continue to support other PSD2 APIs in Germany and provide RTS compliant access to bank infrastructure.
TrueLayer has also secured a series of partnerships with companies including Zopa, ClearScore, CreditLadder, Canopy, Plum, BitBond, Emma, Anorak. It also has a number of undisclosed partnerships in the pipeline with companies in the consumer and financial space that will go live in the next 12 months.
TrueLayer became one of the first companies to be authorised and registered as a payment institution by the UK’s Financial Conduct Authority (FCA) to provide account information and payment initiation services under PSD2.
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