Open banking continues to gain momentum throughout Europe, revolutionizing how consumers and businesses manage financial transactions. In the UK alone, open banking payments now exceed 29.9 million each month, with nearly one in four adults and SMEs adopting the technology. The sector is valued at more than £4 billion, growing over 70% year-on-year, and has already created around 5,000 new jobs.
Across Europe, open banking represented 17% of total e-commerce transaction value in 2024, with user numbers rising to 63.8 million—a fivefold increase since 2020. The global open banking market is projected to expand by 427% by 2029, underscoring its transformative potential.
Yapily has been at the forefront of this rapid growth. The company recently achieved profitability, significantly increased its revenue over the past nine months, and welcomed several new high-profile partners, including Adyen and Allica Bank. These join existing long-term partners such as Intuit QuickBooks, Pleo, Zilch, and Ant Group. Through Yapily’s platform, partners can connect with over 2,000 banks across 19 markets in the UK and Europe.
The platform enables a diverse range of use cases — from instant account-to-account payments and Variable Recurring Payments (VRPs) to data insights, transaction categorization, and real-time cash flow management. These capabilities empower both consumers and businesses with smarter, faster, and more personalized financial services.
Stefano Vaccino, Founder and CEO of Yapily, stated:
“We’re proud to be supporting Google in delivering its bank account verification services for business customers in Europe. With open banking adoption accelerating rapidly, this collaboration marks an exciting milestone for the industry and a major step toward a more connected financial future.”
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