With over 80 percent of financial services companies in the UK investing in open banking products and services, it is safe to say that open banking has revolutionized the financial landscape. FinTech firms can now benefit from open APIs that enable them to customize apps and services based on their business requirements. These top third-party open banking apps provide companies in the FinTech space with real-time data insights to facilitate payments and enhance customer experience.

Best open banking apps


Token open banking app
Photo credit: Token

Founded in 2016, Token powers businesses that want to optimize the value of their financial services chains with products supporting online payments. It offers users PSD2-compliant open banking solutions that initiate payments through a single API for all banks. No hassle, no fuss, just simplified modern banking. Token has raised more than $35 million from VCs and banks around the world and operates three main offices, with employees in 15 locations.

The ID Co.

Users of digital product are becoming increasingly wary of their online security. This makes FinTech companies continuously look for products that solve the consumer’s online financial experience. The ID Co. might have exactly what they need… and more. 

The ID Co. is the brainchild of CEO James Varga, who wants to “enable the future of finance and identity”. With a suite of open banking features for startups, scale-ups, multinationals and everything in-between, the company creates products that enable consumers to share financial data with trusted businesses online. This includes API platforms that generate end-to-end bank data and invaluable insights, verification products, and cash-flow tracking.

Code & Pepper has cooperated with The ID Co. on different projects, including NoMo, a personal finance management app, and assisted in integrating Salt Edge with their proprietary banking data aggregator DirectID.


Photo credit: Yodlee

The self-described “leaders in data aggregation”, Yodlee provides global businesses with the tools they need to streamline open banking capabilities. This easy-to-use platform offers a comprehensive account aggregation service. It enables companies to display customers’ credit card, bank, investment and travel reward information on one screen, eliminating the need for multiple tools.

With over 20 years of experience, Yodlee has worked with financial institutions and FinTechs around the world, along with 15 of the top 20 banks in the United States. The company also has a presence in the European market, including the UK and Germany.

Salt Edge

Founded in 2013, Salt Edge delivers open banking data for institutions that want to initiate payments, data exchange, and enrichment. Its financial API platform comes with various FinTech solutions for bankers, lenders, and other companies. A wide range of secure and innovative services includes global data aggregation.

Salt Edge serves two core functions:

  • Enables TPPs to expedite payment and account information through a secure API gateway.
  • Helps companies to comply with PSD2 and other open banking requirements.

Many clients in the UK, Germany, and Scandinavia have already incorporated this platform into their FinTech stack.


Photo credit: Tink

Since 2012, businesses of all sizes have chosen Tink to gain access to a broad range of financial data. Its easily implemented open banking data integration services give users more financial capabilities at their fingertips. Currently, market coverage includes the UK, Germany, Sweden, Finland, and Norway, with data integration from over 2,500 financial institutions across Europe.

Described as “Europe’s most robust open banking platform”, this innovative tool gives businesses access to consumers’ personal and financial data through a single API. Results? Optimized workflows and significantly improved customer experience. The said financial data include bank accounts, savings accounts, credit cards, loans, mortgages, and investments.


Photo credit: Bud

Bud is an open banking-based platform that delivers data enrichment, aggregation, and marketplace services for companies looking to engage customers, improve compliance, and generate profitable financial insights. “Our platform connects people, through the banks they trust, to financial products that make their lives better,” says Bud.  

With a proven track record of working with large financial institutions, Bud has backing from global banks such as Goldman Sachs and HSBC. The platform’s user-centered approach to data solves a wide range of compliance issues in the UK and beyond. Like all open banking apps on our list, Bud is accountable to the ICO, FCA, and other regulators.


With an emphasis on open banking and PSD2 compliance, Plaid is on a mission to improve the FinTech ecosystem. As one of the largest open banking APIs in Europe, Plaid certainly has clout. Among its clients we can find Citi, Coinbase, and Transferwise. What is more, Plaid has recently teamed up with Microsoft, which is nothing short of impressive. The same goes for its track record: to date (April 2020), Plaid had analyzed more than 10 billion transactions.

Offering tools for startups and larger FinTech companies, Plaid comes with a full package of features. They include real-time account balance verification, detailed transaction histories, and user identity verification. Users can access data from Europe, the United States and Canada through a single API.


Photo credit: TrueLayer

“One unified platform to immediately access the bank data of 98 percent of the population in the UK,” says  TrueLayer on its website. This British company hopes to make “UK banks more transparent” with various data aggregation tools for open banking. As a result, users gain more control over critical financial data.

TrueLayer connects businesses with banks, optimizing identity data, balances, and transaction information from customers’ bank accounts. This way, users can benefit from true open banking and PSD2. Other features include customized bank logins and real-time data insights.

Open banking: time for change

Research shows that 90 percent of bankers think that open banking would boost organic growth by up to 10 percent. It remains to be seen whether their predictions are right. For now, open banking third party providers make their mark by delivering robust technological solutions in an ever-changing financial landscape. The 8 open banking apps featured on this list offer FinTech companies the opportunity to safeguard financial data and processes for better customer outcomes.