Bud vs Armalytix vs Finexer: Best for Verified Audit Data in 2025?

When you’re preparing financial audits, KYC checks, or compliance reports, raw bank statements aren’t enough. You need verified audit data that is accurate, categorised, and sourced directly from the bank to meet regulatory standards and reduce manual review time.

That’s where tools like Bud, Armalytix, and Finexer come in.

Each one offers access to bank data via Open Banking, but their approach differs:

• Bud focuses on enrichment and analytics.
• Armalytix simplifies report generation for accountants and lawyers.
• Finexer delivers verified, categorised data via flexible APIs for real-time audit workflows.

In this blog, we’ll compare all three providers across:

• Audit data accuracy
• Categorisation depth
• Compliance fit
• Integration effort
• Cost transparency

By the end, you’ll know exactly which tool fits your team, whether you’re an accountant needing fast compliance checks, or a finance firm building deeper audit workflows.

Comparison Table: Bud vs Armalytix vs Finexer

Feature	Bud	Armalytix	Finexer
Primary Use Case	Data enrichment & analytics	Report-ready Source of Funds checks	Verified audit data via white-labelled APIs
UK Bank Coverage	90+ banks via Open Banking	90+ banks via Open Banking	99% of UK banks
Data Format	Categorised API output	PDF and dashboard reports	Categorised data via API (raw or embedded)
Customisation Options	Requires dev team	None (fixed reports)	Fully customisable (UX, categorisation, logic)
White Labelling Available	No	No	Yes
Client Onboarding Support	Self-serve / developer-led	Report dashboard only	Dedicated 3–5 week implementation support
Source of Funds Checks	Custom build required	Included in reports	Built-in with categorised data
Best For	FS firms building internal models	Small firms needing fast reports	Firms needing audit-ready data, fast setup

Finexer: Is It the Smartest Choice for Verified Audit Data?

Finexer is purpose-built for firms that want to embed verified audit data into their systems, under their own brand, with full control. While larger providers may hand you an API and leave you to figure it out, Finexer offers white-labelled Open Banking infrastructure, deep customisation options, and dedicated support from day one through go-live.

Whether you’re an accounting firm, insolvency practitioner, or audit platform vendor, Finexer helps you go live in weeks, not months, with hands-on onboarding that’s rarely offered by larger Open Banking providers.

Where This Tool Stands Out

Finexer’s key strength is in customisable audit data delivery, paired with practical support to help teams move fast.

• White-labelled interface: Embed audit-ready bank data under your firm’s brand
• Configurable categorisation layers: Tailor how data appears based on your workflow
• Hands-on support: Dedicated integration and compliance assistance for 3–5 weeks
• No AISP status required: All compliance handled under Finexer’s regulated framework

This makes Finexer ideal for firms that want a fully branded, audit-grade solution without building it from scratch or relying on generic dashboards.

Audit Data Capabilities Explained

Finexer provides:

• Real-time AIS access from 99% of UK banks
• Categorised transaction APIs built for financial reconciliation, audit checks, and KYC reviews
• Income & source of funds identification, with raw and enriched data available
• Live balance & transaction tracking with custom flags (e.g., gambling, credit, high-risk spend)
• Client-friendly UX journeys or fully white-labelled API-only setups
• Compliance-ready architecture, so you can skip FCA registration hurdles

In short, Finexer gives your team full visibility and flexibility, without locking you into predefined templates.

What Works Well (and What Doesn’t)

What Works Well:

• Fully white-labelled audit data infrastructure
• 3–5 week assisted implementation, faster than most big providers
• Categorised, real-time data with audit and compliance relevance
• Transparent, usage-based pricing built for UK firms
• No need to manage regulatory approval or AISP status

What Could Be Improved:

• UK-only focus (global coverage not yet available)

Bottom Line: Should You Use Finexer?

If you want a custom-branded audit data solution with full control, without dealing with compliance headaches, Finexer is the clear winner.

Unlike Bud, which is built for large FS firms, or Armalytix, which offers limited flexibility, Finexer delivers developer-ready APIs, white-labelled interfaces, and personalised support, all in weeks, not months.

For firms that need verified, audit-grade bank data inside their workflows without compromise on speed, branding, or support. Finexer stands out as the best choice.

VSID & Finexer: Key Benefits of the Partnership

Finexer partnered with VirtualSignature ID (VSID) to strengthen digital onboarding and financial verification for high-value property transactions. By integrating Finexer’s Account Information and Payment Initiation APIs, VSID created a secure, compliant workflow for client identity checks, AML compliance, and funds validation all in one unified platform.

Key benefits of the partnership include:

• Cost and Time Savings: Finexer’s pre-built, compliant software helped VSID streamline operations and cut unnecessary overhead.
• Efficiency Gains: Real-time bank data improved client workflows, automating AML checks, identity validation, and proof of funds, with faster turnaround times.
• Customer Satisfaction: With fewer delays and more accurate data, VSID exceeded expectations across its legal and accountancy client base.

“Our clients in the legal and accountancy sectors expect the highest standards of efficiency and security, and Finexer’s solutions help us deliver on those expectations every day.”
— David Kern, CEO of VSID

VSID now delivers an end-to-end experience that combines eWitnessing, electronic signature control, AML checks, and verified fund transfers to designated client accounts, all backed by Finexer’s real-time Open Banking infrastructure.

Bud: Is It Right for Your Audit Data Needs?

Bud positions itself as a data intelligence platform built on top of Open Banking. It doesn’t just connect to accounts, it transforms raw transaction data into insights using machine learning. If your team is building custom risk, affordability, or audit models, Bud offers the infrastructure to power that analysis.

Where This Tool Stands Out

Bud shines in data enrichment. It’s best for financial services firms and fintechs that want to go beyond raw bank data and gain behavioural insights from customer transactions. This includes:

• Identifying recurring income and bills
• Detecting spending trends
• Creating affordability or risk scores

Its strength lies in machine learning-driven categorisation and the ability to plug enriched data into your own internal systems or dashboards.

Audit Data Capabilities Explained

Bud offers:

• Transaction Categorisation API: Tags transactions with merchant, category, and metadata
• Income & Bill Detection: Identifies salary, benefits, rent, utilities, and more
• Behavioural Signals: Scores for gambling, credit usage, and cash flow
• Data Coverage: Access to 90+ UK banks via Open Banking (AISP)

These capabilities make Bud ideal for audit teams who want to generate custom insights rather than rely on templated outputs.

What Works Well (and What Doesn’t)

What Works Well:

• Strong enrichment capabilities for audit and risk scoring
• Accurate transaction tagging using machine learning
• Ideal for FS firms building internal tooling or dashboards

What Could Be Improved:

• No pre-built reports, requires engineering resources to use effectively
• Less suited to small firms or accountants without dev teams
• Cost and integration complexity can be a blocker for non-technical teams

Bottom Line: Should You Use Bud?

Bud is a powerful option if you need flexible, enriched audit data and have a tech team ready to integrate. It’s not plug-and-play, but it gives full control over the insights you generate. For auditors or developers building advanced financial intelligence models, Bud is a solid pick, but smaller firms may find it heavier than necessary.

Armalytix: Is It Right for Your Audit Data Needs?

Armalytix is often chosen by accounting and legal firms that want to generate verified audit reports without handling raw transaction data themselves. It uses Open Banking to fetch client-permissioned bank data and turns it into structured reports that support Source of Funds checks, AML compliance, and client onboarding.

Unlike API-first platforms, Armalytix delivers audit-ready outputs designed for immediate use no technical setup or data wrangling required.

Where This Tool Stands Out

Armalytix stands out as a low-effort financial audit tool for professionals who need to collect financial data quickly and present it in a format suitable for documentation, client files, or regulatory submission.

Its user flows are especially helpful for:

• Accountants conducting SOF/SOW checks
• Solicitors handling property transactions
• Advisors preparing client due diligence packs

By focusing on report generation instead of raw API access, Armalytix appeals to teams that prioritise simplicity over customisation.

Audit Data Capabilities Explained

Armalytix enables:

• Open Banking access to 90+ UK banks (via regulated AISP status)
• Automated Source of Funds reports, including:
  • Income sources (e.g., salary, dividends, benefits)
  • Spending patterns and account balances
  • Financial red flags like gambling or excessive debt
• Client-facing data capture journeys with consent handling
• PDF and dashboard outputs ready for submission to regulators or file storage

While Armalytix does not provide raw transaction feeds, it transforms bank data into audit-ready summaries suitable for regulated use.

What Works Well (and What Doesn’t)

What Works Well:

• Quick to deploy with no coding needed
• Trusted by accountants and conveyancers across the UK
• Produces clear, concise Source of Funds documentation
• GDPR-compliant user journey with secure data handling

What Could Be Improved:

• No access to categorised or raw transaction data for internal analysis
• Limited flexibility for integration into audit workflows or dashboards
• Not suitable for firms needing custom audit pipelines or multi-client automation

Bottom Line: Should You Use Armalytix?

If your firm needs fast, formatted audit reports and wants to avoid the complexity of handling Open Banking data directly, Armalytix is a strong fit. It’s one of the most accessible tools for verifying income and Source of Funds without technical effort.

However, if your audit process involves deep data analysis, multiple clients, or the need to pipe data into internal systems, Armalytix may be too limited. In those cases, an API-based solution like Finexer offers more control over the audit data lifecycle.

Final Verdict: Which Provider to Use for Verified Audit Data?

Choosing between Bud, Armalytix, and Finexer comes down to how much control, customisation, and support your team needs.

• Pick Bud if you have a strong in-house dev team and want to build advanced financial models using categorised bank data.
• Choose Armalytix if you need quick, templated reports for compliance but don’t require raw data or integrations.
• Go with Finexer if you want fully verified, categorised audit data delivered under your own brand, with white-labelling, hands-on support, and no regulatory burden.