Yapily

What is Yapily and what do they do?

Yapily is a technology company that provides open banking infrastructure and payment solutions, enabling businesses to connect with banks and financial institutions. Founded in 2017 and headquartered in London, Yapily focuses on facilitating seamless payment processes and financial data sharing through APIs.

The core payment services Yapily offers include:

• Account Information Services (AIS): Allowing businesses to access bank account information with user consent, which enables personalized banking services and insights.
• Payment Initiation Services (PIS): Enabling businesses to initiate bank transfers directly from a customer’s bank account, which optimizes payment processing by reducing reliance on traditional card networks.
• Direct Debit Services: Providing a simplified mechanism for businesses to collect recurring payments from customers’ accounts, enhancing operational efficiency.

Yapily aims to empower businesses to enhance customer experiences and streamline payment processes through its robust API solutions.

Who is it for?

Yapily’s technology is designed for a broad range of industries that require efficient payment solutions and financial data access. Some of the key sectors utilizing Yapily's services include:

• Fintech Companies: Startups and established companies looking to innovate in financial services.
• E-commerce Platforms: Businesses seeking to simplify payment processes for online transactions.
• Banks and Traditional Financial Institutions: Organizations mandated to adapt to open banking regulations and offer enhanced digital services.
• Marketplaces: Operational frameworks that need to facilitate secure transactions between buyers and sellers.

By leveraging Yapily’s services, these sectors can adopt modern financial solutions while remaining compliant with regulatory frameworks.

Why do businesses choose Yapily?

Businesses are increasingly adopting Yapily’s offerings because of several verified strengths and benefits:

• API-Driven Infrastructure: Yapily’s well-documented APIs allow for easy integration, enabling businesses to harness open banking advantages without extensive development work.
• Cost Efficiency: By utilizing direct bank transfers and reducing intermediaries, businesses can lower transaction costs, increasing profitability in payment activities.
• Improved User Experience: Fast and secure payments enhance customer satisfaction, fostering loyalty and encouraging repeat business.
• Customizability: Yapily’s API can be tailored to meet specific business needs, allowing companies to design payment solutions that align with their unique goals.
• Robust Security: Yapily employs industry-standard security measures, ensuring that data sharing and payment processes meet stringent security requirements.

Businesses using Corefy can simply obtain a MID from Yapily and connect it to Corefy’s dashboard in a few clicks, without dealing with any integration work.

Is Yapily trustworthy?

Yapily is regulated by the Financial Conduct Authority (FCA) in the UK as an Authorized Payment Institution (API). This regulatory approval indicates that Yapily complies with the necessary standards for operational security and data protection.

Moreover, Yapily adheres to the General Data Protection Regulation (GDPR), which establishes a framework for data protection and privacy for individuals within the European Union. This compliance further ensures that user data is handled securely and responsibly.

Yapily's focus on security practices, governance frameworks, and regulatory compliance reinforces its commitment to providing trustworthy financial solutions in the open banking landscape.