Top 5 Tink Alternatives in the UK

Tink is a leading Open Banking platform that enables businesses to securely access and share customer financial data through APIs, offering services like payment initiation and data aggregation across Europe.

What You Will Discover:

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Open Banking has revolutionised the financial sector, allowing businesses to access and share financial data more securely and efficiently. Introduced across Europe through the PSD2 regulation in 2018, it disrupted banks’ traditional dominance over customer data, enabling secure, customer-consented sharing with licensed fintech companies via APIs.

Tink, a platform founded in 2012 in Sweden, has since become a significant name in Open Banking. While Tink has long held a prominent position in this space, it might not always be the perfect fit for every business. Limited customisation, restricted bank coverage, or a pricing structure that doesn’t align with your needs could mean it’s time to look elsewhere.

There are several alternatives that not only rival Tink but surpass it in key areas, offering greater flexibility, affordability, and functionality. Whether you’re looking to streamline your payments, expand your bank coverage, or simply reduce costs, there are options out there that can take your business further, and we’ve found them!

We’ve explored the market and identified the top 5 alternatives to Tink in the UK. Each offers a range of benefits that could better suit your business, from streamlining payments to reducing costs and expanding coverage. Ready to find out which platform is the best fit for your needs? Let’s dive in.

Tink’s Alternatives

Here’s a quick overview of the top 5 Tink alternatives in the UK:

1. Finexer

2. Volt

3. Bud

4. TrueLayer

5. Yapily

Each of these alternatives offers something unique, making them worthy of consideration depending on your specific requirements.

1. Finexer: The Best Overall Alternative

Finexer was founded in 2019 and is headquartered in Birmingham, UK. Since its launch, Finexer has been committed to providing innovative Open Banking solutions, enabling businesses to manage payments, access real-time financial data, and streamline their financial operations with cost-effective, scalable tools.

Instant Payments

Instant Account-to-Account Payments: Finexer enables real-time payments through the Faster Payments network, instantly transferring funds and improving cash flow and operational efficiency.

Bulk Payments: Finexer supports fully functional bulk payments, allowing businesses to handle multiple transactions with a single click—perfect for managing payouts to suppliers, contractors, or partners.

Cost Savings: Finexer ‘s instant payment system allows businesses to save up to 90% on transaction costs by avoiding traditional card fees.

Open Banking Data

Real-Time Financial Data: Finexer provides enriched financial data, including real-time transaction details and balance checks. This helps businesses gain valuable insights into customer behaviours and financial patterns.

Smarter Decision-Making: Finexer provides businesses with access to accurate, up-to-date financial data, allowing them to make more informed, data-driven decisions and offer personalised financial products to customers.

Major Benefits

99% UK Bank Coverage: Finexer connects with nearly every bank in the UK, allowing for seamless, real-time transactions.

Affordable Pricing: Finexer offers flexible, cost-effective pricing that suits businesses of all sizes, from startups to enterprises, making it one of the most accessible Open Banking platforms on the market.

Customisable White-Label Solutions: Finexer ‘s white-label API enables businesses to fully customise the payment interface, providing customers with a seamless and consistent branded experience.

Secure and Compliant: Finexer adheres to PSD2 regulations and uses AES-256 encryption, ensuring high levels of security and compliance with industry standards.

Other Alternatives

2. Volt as an alternative to Tink

Volt, founded in 2019 in London, has quickly established itself in the Open Banking sector, providing real-time, account-to-account payments. With notable funding, including $60 million in Series B in 2023, Volt is positioned as a robust solution for businesses seeking efficient payment processes across multiple regions, particularly in Europe.

Volt’s strength lies in offering instant payments across 29 countries. However, it falls short on key features like bulk payments and Variable Recurring Payments (VRP), which limits its appeal for businesses needing these functionalities for higher transaction volumes or recurring payments.

Regarding Open Banking data, Volt provides Volt Verify, a basic bank account verification tool. However, it lacks important features like transaction data, income checks, and data enrichment, which competitors such as Tink and Finexer offer. This makes Volt less suitable for businesses that require comprehensive financial insights for decision-making.

Volt’s integration with e-commerce platforms such as Shopify and Magento makes it a strong choice for online businesses. However, its limited customisation options and absence of advanced data features reduce its flexibility for companies seeking a tailored Open Banking experience. Additionally, without features like VRP, Volt may not be the best fit for businesses needing more advanced payment structures.

3. Bud as an alternative to Tink

Bud, founded in 2015, is primarily known for its expertise in financial data aggregation. It allows businesses to access and analyse customer financial data effectively, offering white-label infrastructure that ensures businesses can maintain their own branding throughout the user experience.

However, Bud lacks key features in the payment services space. It does not support bulk payments or VRP (Variable Recurring Payments), limiting its appeal for businesses processing large volumes of payments.

Bud provides real-time balance checks and strong data aggregation capabilities, making it ideal for businesses focusing on data insights. However, its focus on data rather than payments may not suit businesses that require comprehensive Open Banking solutions covering both.

Additionally, Bud’s coverage is primarily concentrated in the US and UK, with limited presence in the EU, which could pose challenges for businesses seeking wider regional reach.

4. Truelayer as an alternative to Tink

TrueLayer, founded in 2016, has established itself as a leading player in Open Banking, particularly for businesses seeking secure data aggregation across Europe. Its strong compliance with PSD2 and focus on secure financial data make it a trusted platform for companies needing robust data solutions.

However, TrueLayer falls short in payment services. It lacks bulk payment and VRP (Variable Recurring Payments) support, making it less suitable for businesses processing large or recurring transactions. Additionally, its premium pricing may not be ideal for smaller companies or startups.

TrueLayer offers excellent financial data aggregation, including tools for income verification, transaction data, and account checks, making it highly valuable for businesses requiring secure and comprehensive data. However, TrueLayer enriches transactions with two fields that aren’t returned by most bank PSD2 APIs, which can occasionally result in incomplete data for certain transactions, affecting decision-making.

While TrueLayer integrates with multiple financial institutions, it limits businesses in customisation by enforcing its branding across the user journey. This reduces flexibility for companies that want to maintain full control over their customer experience.

5. Yapily as an alternative to Tink

Yapily, founded in 2017, is known for its wide European coverage and focus on account-to-account (A2A) payments. With connections to over 2,000 banks across 19 European countries, it provides businesses with strong support for payment initiation and financial services, making it a popular choice for European companies.

However, Yapily’s bulk payment feature is still in beta, limiting its reliability for businesses with high transaction volumes. Additionally, it lacks full support for VRP (Variable Recurring Payments), which can be essential for companies managing recurring payments.

Yapily’s key strength lies in payment initiation and European bank coverage, making it a solid choice for businesses focused on payments rather than comprehensive data aggregation. However, it does not provide detailed financial data services, such as income verification or transaction categorisation, offered by some competitors.

Yapily offers white-label customisation for payments, allowing businesses to retain full control over their branding. However, the bulk payment feature being in beta may be a drawback for companies looking for fully developed solutions. Additionally, its focus on Europe limits its global reach compared to other providers with broader coverage.

Comparing Tink’s alternatives

Feature	Finexer	TrueLayer	Yapily	Bud	Volt
Bulk payments	✓	✘	In beta	✘	✘
AIS / PIS	Provides both	Provides both	Provides both	Provides both	Provides both
White-label API	✓	✓	✓	✓ (extra fee)	✓
Coverage	Covers 99% of UK banks	Operates in 21 European countries	Operates in 19 European countries	US & UK only, limited coverage to EU	16 European countries
Sweeping VRP	✓	✓	✓	✘	✘
Commercial VRP	✓	✓	✓	✘	✘
Real-time bank data	✓	✓	✓	✓	✓
Financial data aggregation	✓	✓	✓	✓	✓
PSD2 compliance	✓	✓	✓	✓	✓
24/7 support	✓	✓	✓	✓	✓
Fully Customised White-label Solution	✓	✘	✓	✘	✓

Winding Up

When considering alternatives to Tink, Finexer is the most well-rounded solution. With 99% UK bank coverage, fully operational bulk payments, and a fully customisable white-label API, Finexer is perfect for businesses that need reliable, scalable, and flexible infrastructure.

TrueLayer and Yapily also offer strong data aggregation and real-time payment capabilities, but TrueLayer falls short by lacking bulk payment support, and Yapily’s bulk payment feature is still in beta. Bud, while excellent for data aggregation, offers limited payment services, and Volt, despite its global reach across 29 countries, misses essential features like bulk payments and Variable Recurring Payments (VRP).

If your business requires a fully customisable and robust Open Banking solution, Finexer delivers the ideal blend of efficiency, coverage, and cost-effectiveness.

FAQ’S

What makes Finexer the best alternative to Tink?

Finexer is the best alternative to Tink because it offers fully operational bulk payments, 99% UK bank coverage, and customisable white-label solutions. While other platforms like TrueLayer, Yapily, Bud, and Volt each bring strengths such as data aggregation and real-time payments, they fall short in critical areas like bulk payment support and Variable Recurring Payments (VRP), or have features still in beta. Finexer provides a complete and scalable solution, making it ideal for businesses needing both payments and customisation.

How does Finexer ensure secure transactions?

Finexer employs advanced security measures including AES-256 data encryption, multi-factor authentication, and fraud detection technologies. It complies with the highest industry standards, such as PSD2, ensuring that all transactions and data are protected against breaches.

What is the pricing structure for Finexer?

Yes, Finexer offers flexible and competitive pricing models designed to be budget-friendly for businesses of all sizes. By integrating Finexer , businesses can significantly reduce operational costs and allocate resources more effectively with pay as you use model.

Does Finexer provide real-time payments?

Finexer’s platform is designed to be intuitive and user-friendly, ensuring that businesses can easily navigate and manage their financial operations. The platform also offers comprehensive analytics tools, providing valuable insights into financial data to help businesses make informed decisions.

Is Finexer affordable for small businesses?

Yes, Finexer ‘s affordable pricing and customisable solutions make it suitable for businesses of all sizes, including startups and small businesses.