Yapily vs Truelayer vs Finexer: Which Open Banking Provider is Right for Your Business?

• Yapily’s extensive banking network and ability to provide detailed financial insights make it an attractive option for large enterprises and fintech companies. Businesses that need to process large amounts of financial data will find Yapily’s capabilities incredibly useful​. However, while Yapily continues to grow, it hasn’t been as rapid as some might expect. The company’s financials show higher operational costs and slower revenue growth compared to competitors, which raises some concerns about how quickly it can scale to meet growing demand

2

TrueLayer

• TrueLayer experienced notable revenue growth in 2022, tripling its earnings to £12 million. However, this impressive increase came with a significant downside, as the company reported a substantial loss of £55 million. This financial shortfall highlights ongoing challenges in balancing its ambitious growth with rising operational expenses. TrueLayer’s continued investments in market expansion have been costly, raising concerns about its long-term profitability. Despite its success in scaling services, the gap between revenue and operational costs reflects the inherent risks in its business model, especially in a competitive Open Banking market. These financial struggles suggest that, while TrueLayer is a key player, businesses should consider its sustainability when looking for long-term partnerships in fintech. (source)

#Online Payments #Payment Platform #Personal Finance 6 social mentions

3

Finexer

• Yapily offers a Webhook feature, enabling real-time notifications and updates. However, like other features, the webhook functionality is still in Beta, which may affect its reliability and usability in live environments. On the other hand, finexer provides a fully customisable Webhook and Notification system, allowing businesses to receive email notifications via SMTP and get real-time updates anytime a client connects, revokes, or declines a bank connection. This makes Finexer a more reliable option for businesses needing instant notifications and seamless webhook functionality

#Finance #Banking #Payments 11 user reviews