Finexer vs TrueLayer: Income Verification for Accountants

How Open Banking Powers Income Verification for Accountants

For years, income verification for accountants was a slow, document-heavy process. Clients had to provide payslips, tax returns, or scanned bank statements, and accountants spent hours cross-checking them for accuracy. This not only delayed reporting but also created opportunities for errors or even fraudulent documentation.

With open banking income verification, the process changes completely. Using Account Information Services (AIS), accountants can connect to a client’s UK bank account with full consent and retrieve verified transaction data directly from the source.

Key advantages for accounting firms include:

• Real-time access to salary deposits
  Identify employer credits and recurring income patterns instantly, without waiting for month-end statements.
• Reduced manual workload
  Automated categorisation of income streams removes the need for manual entry and reconciliation.
• Audit-ready data
  Bank-sourced transaction data ensures accuracy and provides a clear compliance trail.
• Faster client onboarding
  For firms that perform income checks during onboarding, this can cut verification times from days to minutes.

Whether it’s for mortgage application support, loan affordability checks, or regular bookkeeping, income verification for accountants is now faster, more secure, and more accurate when powered by open banking APIs.

Finexer vs TrueLayer: How They Approach Income Verification for Accountants

Both Finexer and TrueLayer offer open banking APIs that can be used to deliver fast, secure, and accurate income verification for accountants. However, their approaches differ in ways that can have a direct impact on an accounting firm’s workflow.

Finexer: UK-Focused, Accountant-Ready

Finexer is designed with UK accounting firms in mind. Its AIS capabilities cover 99% of UK banks, meaning accountants can verify client income regardless of whether the client banks with a high street institution or a challenger bank.
Key points for income verification:

• Rapid deployment – Firms can start verifying income within weeks, reducing project delays.
• White-label reporting – Accountants can present branded income verification reports to clients, keeping the process in-house.
• Recurring income detection – Identify salary patterns, self-employment deposits, and rental income without manual review.

For accountants, this means less time chasing documents and more time delivering value-added advice.

TrueLayer: Widely Integrated but Less UK-Centric

TrueLayer is one of the most recognised open banking providers in Europe and is widely integrated with fintech platforms, including some that serve accountants. Its AIS connections cover a large share of UK banks (estimated at over 90%), but it has a broader global-first approach.
Key points for income verification:

• Extensive third-party integrations – Works well if your accounting firm uses platforms already powered by TrueLayer.
• Strong developer support – Detailed documentation and sandbox environments for building custom income verification tools.
• Data categorisation via partner platforms – Relies on integrations for deeper income classification rather than delivering it natively.

Feature-by-Feature: How Finexer and TrueLayer Stack Up for Income Verification

Let’s be honest, when accountants look at income verification tools, they’re not just thinking about “tech specs.”
They’re thinking:

“Will this save me time, keep my compliance team happy, and work for every client I have?”

With that in mind, here’s how Finexer and TrueLayer compare when it comes to income verification for accountants.

Feature	Finexer	TrueLayer
UK Bank Coverage	Covers 99% of UK banks, including challengers and regionals — great for firms with a diverse client base.	Covers 90%+ UK banks, strong reach but with a wider EU/global focus.
Deployment Speed	2–3x faster than typical market timelines, so accountants can start verifying income within weeks.	Solid setup, but onboarding is often tied to broader platform integration.
Branding Options	Full white-label capabilities — your firm’s name on every report and portal.	No native white-label; branding depends on third-party integrations.
Onboarding Support	3–5 weeks of hands-on assistance during onboarding to ensure smooth implementation and team adoption.	Standard support with extensive documentation and developer resources.
Integration Style	Direct APIs and accountant-focused workflows — no unnecessary extras.	Developer-friendly APIs aimed at broader fintech ecosystems.
Pricing	Flexible, usage-based pricing that works for small to large firms.	Pricing varies and can be tied to wider fintech use cases.

Real-World Scenarios: Matching Provider to Your Firm’s Needs

Not every provider treats income verification for accountants the same way. For some, AIS is one of many services; for others, it’s a core focus. Understanding that difference is key to choosing the right fit.

Scenario 1: The Small Practice Plugging into Existing Tools

You use cloud accounting software and want to add income verification without a big systems change. Here, AIS might be just an extra data feed within the wider platform you already use.

Possible fit: TrueLayer

• AIS is offered alongside other open banking services like payments.
• Works well if you’re tapping into platforms already powered by TrueLayer’s ecosystem.

Scenario 2: The Mid-Size Firm That Needs AIS at Its Core

Your firm handles a growing client base and needs AIS as a primary function, not just an add-on to keep income verification central to your workflow. You want complete bank coverage, faster onboarding, and the ability to own the client experience.

Strong fit: Finexer

• AIS is designed with accounting workflows in mind, not as a secondary feature.
• 99% UK bank coverage to ensure every client is included.
• 2–3x faster deployment than typical market timelines.
• White-label reports to keep your brand front and centre.

Scenario 3: Compliance-Driven Firms

You work with clients in regulated industries, where audit-ready income verification is a compliance must-have.

Strong fit: Finexer

• FCA-authorised AIS infrastructure.
• Consent-based bank data retrieval for an unbroken compliance trail.
• Audit-ready output in your own branding.

Scenario 4: Firms Expanding into Advisory Services

Income verification is just the start; you also want to analyse income trends for cash flow forecasting and financial advice.

Strong fit: Finexer

• Built-in recurring income detection to identify patterns.
• API output that can feed directly into dashboards and analytics tools.

Takeaway:
If AIS is a supporting feature in your workflow, TrueLayer can fit neatly into platforms you already use. But if AIS is the backbone of your income verification process, especially for mid-size UK accounting firms, Finexer’s focus, coverage, and deployment speed make it the more targeted choice.

Recommendation

For UK accounting firms, income verification is no longer a task you can afford to run manually. Open banking AIS has made it possible to verify client income directly from the source, cutting days off turnaround times and reducing compliance risks.

TrueLayer has earned its place as a widely recognised provider in the fintech ecosystem, and its AIS capabilities are a reliable option when they’re part of a broader payments or integrations strategy. For firms whose income verification is secondary to other workflows, TrueLayer can slot neatly into existing setups.

Finexer, on the other hand, is built for firms where AIS is central to operations. If your practice is mid-sized, UK-focused, and needs:

• 99% UK bank coverage so no client is excluded,
• Faster deployment to get your team operational in weeks, and
• White-label reporting to keep your brand front and centre,

Then Finexer’s accountant-first approach will likely deliver more value.

In short:

If AIS is the backbone of your income verification process → Finexer is purpose-built for you.

If AIS is one of many tools you need from an open banking provider → TrueLayer fits the bill.