Yapily Alternatives: Similar Platforms to Consider

11.02.2025

Open Banking

Payment Provider

Payment Gateway

Plugins

With the advent of open banking 10 years ago, the world of financial transactions has undergone significant changes, and it is now clear that it will never be the same again. Open banking is transforming the industry as a whole, and new services appear almost daily.

Today we will take a closer look at Yapily, an API platform that has emerged as a stable player in this field. However, with a growing demand, many companies are facing the struggle of choosing to meet their unique needs. So, we’ll explore not only Yapily’s offerings and how it works but also examine its top competitors.

What Is It and How Does Yapily Work?

Yapily is an open banking platform that connects businesses to a wide range of financial institutions via APIs. The service integrates with over 2,000 banks and financial institutions across 19 countries, primarily covering the UK and Germany. It supports over 3,500 applications.

The platform’s primary offerings are data access (real-time insights into customer financial data), payments (instant and recurring), and services like transaction categorisation and account validation. By providing businesses with API access, Yapily allows them to integrate financial data and payment solutions into their products without thinking about backend complexities.

Speaking of complexities, the question may arise: Is open banking safe?

It is said to be so, as Yapily open banking, like its competitors, follows stringent security protocols, including powerful encryption, two-factor authentication, and compliance with relevant regulations like GDPR and PSD2. Sharing sensitive financial data is a part of the process, so security is a top concern for businesses of all sizes and consumers alike.

What is Yapily Connect?

It is the feature that facilitates global expansion for businesses by providing access to banks and financial institutions under the necessary regulatory framework. It offers features like bulk payments, recurring payments, and data aggregation, simplifying the integration process for developers.

What is Yapily Connect on a bank statement? It is a representation of an open banking transaction processed through Yapily’s platform. It indicates that Yapily’s Financial Conduct Authority (FCA) registered entity facilitated the transaction as an Account Information Service Provider (AISP) or Payment Initiation Service Provider (PISP). This connection is made through Yapily’s API infrastructure, allowing third-party services to access financial data or initiate payments with the user's consent, without requiring the business to hold its own Third-Party Provider (TPP) license.

Factors That Could Impact Your Decision on an Open Banking Provider

When selecting an open banking provider, factors such as the lack of publicly available pricing can be a concern, making it harder for businesses to assess costs upfront. Additionally, the platform’s complexity may require considerable developer resources for integration, which could be challenging for smaller businesses or those with limited technical expertise.

Furthermore, Yapily’s regional focus, primarily on the UK and Germany, might limit its usefulness for companies looking to expand into other areas. One more limitation of Yapily is its lack of card payment options, which are widely used for online transactions.

What does Yapily do? The platform is focused solely on open banking and does not provide no-code solutions or simplified checkout pages, which could be restrictive for merchants in need of a more adaptable or all-in-one payment solution. Businesses should ensure the provider fits their specific needs before committing.

So what are the alternative services to Yapily?

The table below outlines a comparison of similar companies to Yapily that offer a comparable range of open banking services, enabling businesses to evaluate key differences in features and other relevant factors.

Company name	Noda	TrueLayer	Plaid	Tink	GoCardless
Key Takeaways
What is?	A strong contender in the open banking space, offering a blend of payment solutions and data insights. It is Ideal for e-commerce merchants looking for cost-effective open banking solutions with advanced data capabilities	A competitor to Yapily, offering a comprehensive set of open banking services with a focus on Europe (and a limited presence outside of it)	A well-established fintech company provides a viable alternative to Yapily with its broad range of financial connectivity services, especially in North America. More limited European coverage compared to some competitors	An alternative to Yapily focuses on maximising value from financial data. It is suited for businesses looking to utilise financial data for personalised customer services and advanced risk assessments. Less extensive global reach compared to some competitors	A provider of recurring payments and direct debit solutions. Might be the option for subscription-based businesses and companies dealing with recurring payments. More limited in scope compared to full-service open banking providers
Key Features	Open banking payments via APIs or plugins Connections to over 2,000 banks across 28 countries AI-driven checkout optimisation Advanced data tools including Know Your Whales (KYW) insights	Extensive European coverage Real-time payment initiation Account information services Strong focus on developer experience	Extensive North American coverage Account linking and verification Transaction data enrichment Identity verification	Pan-European coverage Personal finance management tools Risk insights for lenders Payment initiation services	Global bank debit network Instant bank pay for one-off transactions Integrated with major billing and CRM platforms

Yapily vs. Noda: Key Differences

Yes, both Noda and Yapily offer open banking solutions, but they cater to different business needs.

Ease of Integration: Noda offers a more straightforward setup with an intuitive interface and clear API documentation and a set of e-commerce plugins, ideal for businesses with limited technical resources. Yapily, while flexible and scalable, may require more developer time and expertise for integration.
Pricing: Noda’s pay-as-you-go model is well-suited for startups and small businesses, offering flexibility and affordability. Yapily pricing, on the other hand, is better aligned with the needs of larger enterprises that require comprehensive solutions.
Developer Experience: Noda focuses on simplicity, offering a more user-friendly platform for developers. Yapily’s platform, while feature-rich, may be more complex and require more technical know-how.

Which Yapily Alternative Is Right for Your Business?

Choosing between Yapily competitors depends on several factors, including your business’s geographical presence, technical needs, and budget. Yapily is a possible choice for businesses looking for comprehensive coverage across the UK and Europe with seamless API integration. It offers a range of features tailored primarily for businesses in the financial industry, including payments, lending, investment, crypto, accounting, FX, and more. However, for businesses targeting specific markets or needing specialised solutions, alternatives like Noda might be better suited.

Whether you choose, open banking is an essential tool for modern businesses, and finding the right provider will help you unlock new possibilities in financial innovation. Wondering if Noda is the right open banking solution for your business? Let’s discuss your unique business needs and explore how we can help.