The Open Banking Provider Landscape in Europe: What to Know Before You Choose

Open banking has moved well past its regulatory debut. PSD2 forced the doors open, but the infrastructure that grew up around it varies enormously in quality, flexibility, and philosophy. If you're building a credit risk tool, a KYC flow, or a financial data integration in 2024, the provider you choose will shape your product for years.

Here's a practical look at the major open banking providers operating in Europe, and what actually differentiates them.

What does an open banking provider actually do?

At its core, an open banking provider connects your application to bank account data through APIs. Under PSD2, banks are required to expose this data via regulated interfaces, but the quality of those interfaces varies wildly. Providers sit in the middle, normalising data from hundreds of banks into a consistent format that your product can work with.

There are two regulated roles in the PSD2 framework:

• Account Information Service Provider (AISP): retrieves account and transaction data with user consent

• Payment Initiation Service Provider (PISP): initiates payments directly from a user's bank account

Most providers in the European market hold one or both of these licences. What they do with those licences, and what they build on top of them, is where the real differences emerge.

Open banking providers at a glance

Provider	Markets	Bank connections	Connection type	White label
Enable Banking	29 European countries	2,500+	PSD2 API only	Yes
Aiia / Mastercard	Nordics + select EU	~3,000	API	Partial
Nordigen / GoCardless	31 European countries	2,300+	API	Partial
Salt Edge	50+ countries	5,000+	API	Yes
Tink / Visa	20 European countries	3,400+	API	Yes
Token	21 markets	Not disclosed	API	Yes
TrueLayer	21 markets	Not disclosed	API	Partial
Yapily	19 European countries	2,000+	API	Yes

Coverage figures and feature classifications are based on publicly available documentation, developer materials, and provider websites as of 2024. White-label capability classifications reflect the degree of end-to-end branding control available to clients and may vary by implementation.

The providers

Aiia / Mastercard

Aiia is a Danish open banking platform originally founded in 2017. Acquired by Mastercard in 2021, it now forms part of Mastercard's global Open Banking platform. The platform provides connectivity to more than 3,000 banks across European markets and is designed for banks, fintechs, payment service providers and enterprise organisations. As part of Mastercard, Aiia benefits from significant global scale and investment. For some organisations, ownership structure may be a consideration when evaluating long-term roadmap alignment or data governance preferences.

Aiia's key features:

• Account data access: Retrieve transaction history, account balances, and identity data across Nordic and Baltic banks via a single integration

• Payment initiation: Initiate bank-to-bank payments directly from user accounts without card networks

• Open banking platform: Integrated into Mastercard's global open banking platform, including Finicity (North America)

• Developer-friendly APIs: Clean documentation and sandbox environment for faster integration

Nordigen/GoCardless Bank Account Data

Nordigen built a reputation in the developer community partly through a free tier that made open banking data accessible for smaller teams. Acquired by GoCardless in 2022 and later rebranded as GoCardless Bank Account Data in 2023, the platform is now part of GoCardless' broader bank payment offering. It covers 31 countries and connects to 2,300+ banks, but focuses on AIS rather than PIS.

GoCardless's key features:

• Account information services: Access transaction data and account details across 2,300+ banks in 31 countries

• Broad European coverage: One of the wider footprints in the market for AIS-focused use cases

• Developer accessibility: Known for straightforward onboarding and a historically generous free tier

• GoCardless integration: For clients already using GoCardless for payments, the combination of bank data and payment rails in one platform may be useful

Salt Edge

Founded in 2013, Salt Edge is a global open banking platform that originally supported credential-based connectivity before expanding its PSD2-compliant API connectivity across Europe and other regulated markets. The platform connects to more than 5,000 financial institutions across 50+ countries, giving it one of the broadest international footprints among open banking providers. For organisations operating across multiple regions, available connection methods may vary depending on local banking infrastructure and regulation.

Salt Edge's key features:

• Global reach: Connections to 5,000+ financial institutions across 50+ countries, including markets outside Europe

• Data enrichment: Transaction categorisation and enrichment to turn raw bank data into actionable insights

• TPP verification: Real-time regulatory status checks for banks and EMIs integrating with third-party providers

• White-label solutions: Full customisation options for businesses that want to maintain their own brand throughout the user journey

Tink / Visa

Tink is one of the most established names in European open banking, founded in Sweden in 2012 and acquired by Visa in 2022. It covers 20 European markets with 3,400+ bank connections and supports a wide range of use cases, including account aggregation, payment initiation, and data enrichment. Similar to the Aiia acquisition, the ownership structure might be a consideration when evaluating long-term business preferences. Tink's product layer sits on top of the raw connectivity, which might also be a consideration for teams that want full control over how data is structured and used.

Tink's key features:

• Data access and account aggregation: Connect to and aggregate data from multiple banks to offer personalised insights, enhance lending decisions, and gain insights into users' financial behaviour

• A2A payments: Trigger the move of funds from one account directly to another

• Risk Signals: Benefit from risk checks designed to monitor, manage, and block A2A payments to help prevent fraud

• White-label solutions: Integrate open banking while maintaining brand visibility

Token

Token is an open banking platform providing account information and account-to-account payment capabilities across the UK and Europe. Authorised as both a PISP and AISP by the UK’s FCA and Germany's BaFin. This combination makes the platform particularly well-suited to organisations operating in the German and Austrian region as well as broader European markets.

Token's key features:

• Unified AIS and PIS: A single API for both account data access and payment initiation across European markets

• A2A payments: Support for variable recurring payments, real-time payouts, and Pay by Bank solutions

• Hosts Pay by Bank pages: white-label checkout pages enabling faster bank authentication, QR-code handover, and one-click bank selection

• Dual FCA and BaFin authorisation: May simplify regulatory and operational considerations for organisations active in both markets

TrueLayer

TrueLayer is a UK-founded open banking provider that has built a strong position in the payments space, particularly variable recurring payments. It covers 21 markets across the UK and Europe. TrueLayer's strength is in payment initiation and the user-facing connection flows, and it has invested heavily in conversion optimisation. TrueLayer places greater emphasis on payment initiation than on data access, making it particularly well-suited to payment-focused use cases.

TrueLayer's key features:

• Payment initiation: Strong A2A payment flows with a focus on conversion, including variable recurring payments in the UK

• Account data access: Retrieve account information and transaction history for identity verification and financial insights

• Signup+: Combines payment initiation and identity verification in a single transaction to streamline onboarding

• Developer tooling: Comprehensive SDKs, a testing console, and hosted pages to reduce integration time

Yapily

Yapily is an API-first open banking infrastructure provider operating across 19 European countries, including the UK and the DACH region. The platform connects to more than 2,000 banks and financial institutions, offering a single integration for both Account Information Services (AIS) and Payment Initiation Services (PIS). Yapily focuses on providing flexible APIs, customisable customer journeys and developer tooling, making it well-suited to organisations building their own financial products and user experiences.

Yapily's key features:

• AIS and PIS through one integration: Access account data and initiate payments via a single API, covering both consumer and business accounts

• Customisable integration: Customise flows, screens, and copy to match your product, with hosted pages available for faster launch

• Data enrichment: Transaction categorisation, recurring payment recognition, and normalised merchant data via Yapily Data Plus

• Enterprise-grade infrastructure: ISO 27001-certified and built to handle large transaction volumes

Enable Banking

Enable Banking is a second-generation open banking provider, built entirely around PSD2 APIs. It connects to over 2,500 banks across 29 European markets, with the deepest roots in the Nordics and Baltics and coverage reaching well into Central and Eastern Europe.

The idea behind it is simple: be the infrastructure, and nothing more. Data flows through cleanly, harmonised into one consistent format, and lands with the partner ready to use. Enable Banking never monetises any of your customers' data, and doesn't build products on top of it. There's no competing product team eyeing the same data your credit model runs on. The data is yours, and what you build with it is yours.

That neutrality shows up in how partners work with it, too. Build on Enable Banking's own AISP licence and get to production fast, or run a dedicated environment under your own TPP licence. Same infrastructure underneath, either way.

Enable Banking's key features:

• Official PSD2 APIs only: No legacy workarounds. Every connection runs on regulated bank APIs

• 2,500+ banks across 29 European markets: Deep in the Nordics and Baltics, broad across Central and Eastern Europe, covering both consumer and business accounts

• Harmonised data: Every bank exposes data differently. Enable Banking offers data harmonisation to map it to a single, consistent schema, so you build once, and it works the same everywhere

• Data minimisation by design: Account details, balances, and transactions are fetched on demand, so partners can keep long-term storage of sensitive data to a minimum where it makes sense

• Transparency through the Control Panel: Data Insights, application statistics, and detailed request and bank interaction logs show you exactly what's happening across every connection

• The full transaction history: Pull everything a bank makes available, not just a fixed recent window

• Consent that lasts: Up to 180 days, so end-users re-authorise far less often

• Bulk payments: Confirm payments to multiple recipients with a single authorisation

• Two engagement models: Build on Enable Banking's AISP licence, or run a dedicated environment under your own TPP licence

Particularly well suited to:

• Credit risk and affordability assessment

• KYC and identity verification

• Accounting and ERP integrations

• Business financial analytics

• SME lending platforms

• Loyalty and rewards programs

Frequently asked questions

• What are ASPSPs and PSUs?

  Two terms come up often in open banking documentation, including ours.

  An ASPSP (Account Servicing Payment Service Provider) is a bank or payment institution that holds customer accounts and provides access to them under PSD2.

  A PSU (Payment Service User) is the end-user, a person or a business, who holds an account at an ASPSP and uses open banking services.

• What does "second-generation open banking provider" mean?

  Early open banking access often relied on credential-based methods, built before PSD2 APIs were widely available. Most providers have since moved toward API connectivity, and many still carry some of that earlier infrastructure alongside it. A second-generation provider is one built entirely on official PSD2 APIs from the start, with no screen scraping in the mix. It is a cleaner foundation, and one designed for how open banking is regulated today rather than retrofitted to it.

• Which open banking providers offer the best coverage in the Nordics and Baltics?

  Coverage across the Nordics and Baltics differs from bank to bank. It is worth reviewing connection quality one bank at a time, rather than relying on overall country counts. Enable Banking was founded in Finland, a country that embraced open banking early. It holds some of its deepest bank relationships and highest data quality across the Nordics and Baltics. That is especially true in Sweden, where adoption has been particularly advanced. There is documentation for each country and each individual bank, so you can check the specifics rather than trusting a single headline number.

• Do you provide access to business accounts?

  Yes. Business account data is one of Enable Banking's strengths, with some of the widest coverage in Europe across both business and personal accounts. Coverage does vary by bank. You can check business and personal coverage for each bank here.

• Do I need a provider that offers both AIS and PIS?

  Not always. It depends on what you are building.

  If your main goal is data access for credit risk, KYC, account verification, or financial insights, then the quality of the account data matters most. A provider with real depth in Account Information Services (AIS) may serve you better.

  If you also need users to make payments, then Payment Initiation Services (PIS) matter too, and a provider strong in both is worth looking for.

  Either way, the question to start with is what your product actually needs to do, not how many services a provider lists.

• What if I do not hold my own AIS or PIS licence?

  For accessing account data, you can build directly on our AISP licence. This lets you go into production quickly, without arranging separate regulatory authorisation first. It is often one of the fastest routes to start working with bank data.

  If you want to initiate payments and you already hold a PIS licence, Enable Banking provides the technical Infrastructure-as-a-Service. We handle every aspect of bank integration, authentication, certificate management, and monitoring, so your team focuses on product, not plumbing.

  In both cases, we manage the technical side. The difference is whose licence the service runs under: for account data, you can use ours, and for payment initiation, you use your own. Talk to us about which option fits what you are building.

• What if I already hold my own AIS or PIS licence?

  If you already hold your own AIS or PIS licence as a regulated Third Party Provider (TPP), you can use Enable Banking's API services under your own licence. In this setup, Enable Banking acts as your Technical Service Provider (TSP): you get a dedicated single-tenant environment with complete isolation and cryptography offloading for your eIDAS certificates (such as QWAC and QSealC). Enable Banking stays invisible to your end-users, and the direct contractual relationship between you and your customers is preserved.

  Getting started means having your TPP registration, eIDAS certificates with the correct roles, and your own legal texts in place, then completing the TPP onboarding form and configuring your DNS records as directed. From there, Enable Banking manages the integration with bank APIs, system monitoring, analytics, reporting, and DORA compliance beneath your licence, so your team builds the product rather than maintaining the plumbing.

  You'll find comprehensive guides in our TPP Infrastructure documentation and the complete Getting Started for TPPs guide.

• Which countries and banks do you cover, and is there a way to review specific coverage by country and bank?

  We cover a wide range of countries and banks across Europe, including the Nordics and Baltics. You can check our precise, up-to-date country and bank coverage, including per-bank details, on our coverage page.

• Are there local regulatory or technical requirements we need to meet in our target markets?

  Requirements vary by country and often by individual bank. Authentication flows, strong customer authentication (SCA), and user journeys all differ across markets.

  Most of that technical variation is handled for you. Enable Banking maps to each bank's requirements, so you integrate once rather than building for every market separately. Country- and bank-specific documentation covers the details for each market.

  On the regulatory side, what you need depends on your use case and whether you are building on your own licence or ours. That is worth confirming early, and it is something we can talk through for your specific markets.