TrueLayer
London open banking company, FCA-regulated, whose products cover Pay by Bank, payouts, a Data API and account verification
Quick Overview
| Company | TrueLayer Limited |
|---|---|
| Category | Open Banking APIs |
| Headquarters | London, United Kingdom |
| Founded | Not stated |
| EU Presence | Yes - United Kingdom, with TrueLayer (Ireland) Limited for the EEA |
| Data Location | Not stated on the pages checked |
| Open Source | No |
| GDPR Compliant | Yes |
| Self-Hosting | No |
| Main Features | Pay by Bank payments, payouts, Bank on File, Signup+, Data API, data verification, console and API reference |
| Pricing | Pricing on request; no price list on the vendor site |
| Best For | Merchants and fintechs that make Pay by Bank the main product and want account data as a secondary layer |
| Replaces | Plaid, Tink |
Detailed Review
TrueLayer's homepage is now written around Pay by Bank: it claims a network of more than 30 million consumers and says it handles 47 percent of Pay by Bank transactions, figures the company publishes itself. Data is a smaller part of the story than it was.
The data product is the Data API, described as a single API that connects to verified bank customer data in real time, plus a Data Verification product in the navigation.
Two Legal Entities
The user terms updated on 12 May 2026 name TrueLayer Limited (England and Wales, company 10278251) for UK users and TrueLayer (Ireland) Limited for the EEA. Choosing it for an EU product means contracting through the Irish entity, not a UK one.
Data API in Practice
The Data API page pitches affordability checks, personalised experiences and fraud reduction through real-time bank data. It is a marketing page, so check the API reference for the exact endpoints and refresh behaviour before committing.
Payments First
Payments, payouts, Bank on File and Signup+ sit ahead of data in the product menu. If your priority is transaction history for lending, compare it with data-first vendors such as finAPI or Powens.
Limitations to Consider
TrueLayer publishes no pricing and its current positioning is payments rather than data aggregation. Coverage figures per country were not stated on the pages checked. Teams that only need transaction data may find a data-first vendor a closer fit.
Who Should Use TrueLayer
Merchants, marketplaces and lenders in the UK and Ireland that want Pay by Bank and a Data API from the same vendor.
Pros and Cons
Pros
- Pay by Bank network with published scale figures
- FCA-regulated, with an Irish entity for the EEA
- Payouts and Bank on File besides payments
- Data API and data verification products
- Localised sites for five EU markets
Cons
- No public pricing
- Data is secondary to payments in the current pitch
- Coverage by country not listed on the pages checked
- UK-centred brand for EU data aggregation
Alternatives to TrueLayer
Other European open banking apis worth comparing before you decide:
Yapily
United Kingdom · Open banking data and payments through one API, with FCA-authorised Connect option
finAPI
Germany · Munich open banking API with a published price list and BaFin licences
Powens
France · French open finance platform for bank data, payments and identity checks
Enable Banking
Finland · Finnish AISP with one PSD2 API to 2,700+ banks in 30 countries
See all European open banking apis or compare them directly against Plaid on our alternatives page.
Frequently Asked Questions
Yes. It lists a Data API and a Data Verification product, although the homepage is now focused on Pay by Bank.
According to its user terms, TrueLayer (Ireland) Limited serves users in the EEA and TrueLayer Limited serves the UK.
The vendor site shows no prices, so you need to contact sales.