What is TrueLayer? TrueLayer Review, Features

TrueLayer mainly provides enterprises with convenient banking application programming interfaces and PSD2 regulations, and currently supports things like accounting authentication, KYC processes, access to account aggregated transaction data, credit scoring, and risk assessment.

About TrueLayer

• TrueLayer is a fintech platform for building financial applications that connect to bank data, verify accounts and access transactions in real time. It was founded in 2016 and is headquartered in London, UK.

• TrueLayer is a global open banking platform, businesses use our open banking network to securely access financial data and enable instant payments. For example, if you top up your Revolut, Nutmeg, Freetrade or Trading212 account, you are using TrueLayer in the background.

• In the UK, Ireland and Spain, more than half of Open Banking traffic goes through TrueLayer, and TrueLayer’s payment conversion rate is 20% higher than other Open Banking providers.

• TrueLayer is one of the first companies regulated in the UK to provide Account Information Services (AIS) and Payment Initiation Services (PIS). These open banking services allow consumers to view their accounts in one place, or make payments from their bank without having to enter credit card details. TrueLayer's API is fully compliant with UK and European open banking standards.

• TrueLayer also provides e-money services to its merchant clients and acts as a technology service provider or intermediary to regulated Open Banking providers.