We have a lot to share is this blog as part of our passion to continue providing you with industry-leading information on the global Open Banking segment. This update will have the weekly additions to the Open Banking Tracker (Banks, APIs, TPPs, etc.) and our selection the 5 API aggregators you’ll want to make sure you know about!
Our Current Coverage
• We track 2,893 banks providing Open Banking services! (+2 from August 16th)
• 1,032 APIs currently tracked on our platform!
• 460+ TPPs in the ecosystem!
• 89 Global markets covered!
• 45+ Open Banking API Aggregators! (+1)
• 164 Open Banking powered apps! (+3)
• PSD2 API & PSD2 Open Banking coverage!
• Track over 60+ data points for all Open Banking projects!
And we are growing on a continuous basis... 🚀🚀🚀
Developments (August 16th to August 23rd):
We initiated coverage and provided Open Banking API information for:
• Bendigo Bank - Bendigo and Adelaide Bank is an Australian financial institution, operating primarily in retail banking.
• Up - Up Bank is an Australian challenger bank looking to disrupt the personal finance management space.
• Okra - Okra is the open finance infrastructure that enables developers & businesses build personalised digital products/services.
• Bridge - Bridge is an API aggregator that allows users to get a reliable and automated access to financial data to create new business opportunities.
• 11:FS - 11:FS builds next-generation propositions for challengers in the financial services industry: existing firms looking to innovate, start-ups looking to scale, and everyone in between.
• Ventis - Ventis is a a fintech company that develops a marketplace solution for Italian excellence with its own payment ecosystem
• Biggest Publicly Available TPP Registry in the Industry! 🚀🚀🚀
• And many more!
We continue to cover over 35 aggregators!
5 API Aggregators You’ll Want To Make Sure You Know About!
Lean provides developers with a universal API to access their customer's financial accounts from across the Middle East.
They came to the realization that infrastructure barriers to entry were suppressing the growth of the fintech industry across our home markets and sought to build a product that would solve that once and for all. Using Lean, Fintech innovators in MENA are now able to seamlessly connect to their customers’ bank accounts to retrieve their account information and initiate real time payments.
Lean is currently live in the United Arab Emirates (UAE) and will soon be expanding to Saudi Arabia and Egypt. The company aims to be operational in most countries in the Middle East by the end of 2022, which goes hand-in-hand with its mission of enabling the next generation of fintech innovation in the region.
Lean was founded in 2019 by Aditya Sarkar, Ashu Gupta, Hisham Al-Falih, and is currently based between Riyadh, Dubai and London. The company is backed by leading international and regional VC investors, including RAED Ventures, Shorooq Partners, Outliers VC, Rocket Internet’s Global Founders Capital, Global Ventures, HOF Capital, ALJ Investments and 500 Startups among others.
To visit the company's website click here.
Belvo’s objective is to build the technological infrastructure needed so financial innovators in LatAm can focus on improving financial experiences for their users. So far, Belvo has built the most far-reaching financial API platform in their markets, connecting any application with data from banks, tax authorities, and gig economy companies. Now Belvo aims to work with leading fintechs in Latin America, spanning verticals such as neobanks, credit providers and personal finance products. For example, developers of popular neobank apps, credit providers and personal finance tools use Belvo’s API to connect bank accounts to their apps to unlock the power of open banking.
The company was founded in 2019 by Pablo Viguera and Uri Tintore, and it’s currently based in Mexico City. In June 2021, it has reached a valuation of $56 M after raising $43 million in a Series A round of funding. Backers include: Future Positive, Kibo Ventures, FJ Labs, Kaszek, MAYA Capital, VentureFriends, Sebastián Mejía, Harsh Sinha and Nubank CEO and founder David Vélez.
To visit the company's website click here.
Mono enables companies and developers to access financial accounts for balances, bank statements, credits, and historical transactions. As well as that, Mono also can initiate direct debit payments and recurring debits on customers’ accounts. This is inceredibly important in the regions they operate, where there remains a large number of underbanked individuals. Open banking allows for the barriers to entry to be reduced for willing financial participants and promotes a more inclusive economy. The aggregator was formed as part of an initiative from leading financial institutions within the region.
Abdulhamid Hassan and Prakhar Singh founded the startup in 2020. In May, they closed a $2m seed investment with backers including: Entrée Capital, Babs Ogundeyi, Gbenga Oyebode (partner at TCVP); Eric Idiahi (co-founder and partner at Verod Capital), and Lateral Capital.
To visit the company's website click here.
BirAPI is a fintech company that develops and advances the technology required for banks to meet PSD2 and Open Banking requirements based out of Turkey and primarily focusing on that region. The main purpose of BirAPI is to establish stable and secure interoperability channels between financial providers and end consumers. Besides this, it provides financial institutions with consent management tools, developer portals, API gateways and dashboard solutions needed for the PSD2 compliance process. In addition, the company also provides clients with a dashboard to manage consents, exemptions, trusted beneficiaries list, incident reporting, and monitor all periodic statistics.
BirAPI was founded by Hasan Erişmen and Mustafa Gökhan Can in 2019. It’s currently based in Istanbul, Turkey and has an undisclosed valuation.
To visit the company's website click here
Okra is an API aggregator connected to all the major banks in Nigeria with a 99.9% guaranteed uptime. They offer a range of services, including authentication, balance checks, identity verification, income analytics, transaction history, and bank to bank (open banking) enabled payments. Okra works with some of the major fintechs in the region such as renmoney, carbon, autochek, among many others. The team has launched and grown extremely rapidly with open engineering positions in almost all roles, as they look to continue expanding and dominating domestic and continental African markets.
Okra was founded in early 2020 by Fara Ashiry Jituboh and David Peterside. They raised a $3.5m seed round in April 2021 led by Susa. Ventures, along with Accenture Ventures and TLcom Capital Partners.
To visit the company's website click here.
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Have a great week and stay safe!
The Banq team