Similar Open Banking Providers like Tink in the UK

Tink is one of the most recognised names in open banking across Europe and the UK, offering both account information services (AIS) and payment initiation services (PIS). Its platform supports balance checks, Pay by Bank transactions, and is often referenced in conversations around variable recurring payments (VRP).

But in 2025, many UK firms are exploring open banking providers like Tink that are more aligned with local needs. Businesses want solutions with stronger UK bank coverage, FCA authorisation, faster deployment, and pricing models designed for accountants, mid-sized firms, and compliance-focused sectors.

This guide highlights four providers similar to Tink in the UK market. At the forefront is Finexer, a UK-first platform built around compliance and accounting workflows. Alongside Finexer, we’ll also review TrueLayer, Plaid, and Yapily

Criteria	Finexer	TrueLayer	Plaid	Yapily
FCA Authorisation	✅ Fully authorised for AIS + PIS, tailored to UK compliance and audit needs	✅ Authorised, widely used for AIS + PIS across UK and EU	✅ FCA authorised, strong AIS coverage, payments still expanding	✅ FCA authorised, API-first approach, good coverage for AIS + PIS
UK Bank Coverage	✅ 99% of UK banks (high street + challenger)	⚠ Covers major banks, good reliability but EU-first integrations remain	⚠ Good UK coverage, but strength lies more in multi-region footprint	⚠ Strong UK coverage, though built with pan-European expansion focus
Payments Capabilities	✅ Pay by Bank, batch payouts, VRP roadmap	✅ Leading in Pay by Bank & VRP pilots, strong payment partner ecosystem	⚠ Supports Pay by Bank, VRP still emerging in UK	⚠ Pay by Bank supported, VRP rollout ongoing across markets
Data Enrichment	✅ Categorised transactions, cashflow insights, compliance-ready feeds	⚠ Basic categorisation, better known for payments than enrichment	✅ Strong enrichment features for fintech apps and lending	⚠ Core data feeds, enrichment limited compared to others
Deployment Speed	✅ 2–3x faster than market average with onboarding support	⚠ Longer ramp-up for SMEs, geared towards fintechs & enterprises	⚠ Standard timelines, more suited for global platforms	⚠ Developer-heavy setup, requires in-house tech capacity
Best Fit	UK accountants, mid-sized firms, compliance-driven businesses	Fintechs & payment platforms needing VRP	Consumer apps, lending, multi-region fintechs	Enterprise platforms needing deep API control

Finexer as a Tink Alternative

For firms searching for open banking providers like Tink but wanting a stronger UK focus, Finexer is often the first choice. Built entirely around the UK market, it connects to 99% of banks and is fully FCA-authorised for both account information services (AIS) and payment initiation services (PIS).

Where Finexer stands out is speed. Deployment takes a fraction of the time compared to larger, Europe-wide platforms, helping businesses go live up to 2–3x faster. For accountants and finance teams, this means less time wrestling with integrations and more time delivering value to clients.

Payments are equally well covered. From Pay by Bank for one-off transactions to batch disbursements and future-ready support for variable recurring payments (VRP), Finexer is built for day-to-day operations as well as scaling use cases.

Another differentiator is cost. Instead of high, fixed-fee commitments, Finexer uses a flexible, usage-based pricing model, making it easier for mid-sized firms to adopt open banking without overspending. And for those who want a client-facing solution, Finexer’s white-label capability means the entire experience can carry your brand.

Why choose Finexer?

• UK-first compliance and bank coverage
• Rapid deployment with onboarding support
• Affordable, usage-based pricing
• White-label features for branded rollouts

Finexer isn’t just “similar” to Tink, it’s designed to be the UK-specific option for businesses that need open banking to work faster, cleaner, and more compliantly.

TrueLayer

TrueLayer is one of the most established open banking providers in the UK, known for powering Pay by Bank experiences and secure data connections. The platform is FCA-authorised for AIS and PIS, giving businesses confidence that compliance standards are met.

A key strength of TrueLayer is its role in driving variable recurring payments (VRP) adoption across UK banks. Firms that need recurring payments, such as subscription billing or account top-ups, often explore TrueLayer for this capability.

For developers, the platform offers detailed documentation and SDKs, making integration accessible for fintechs and payment platforms. While it has strong brand recognition and a broad European footprint, some mid-sized firms find the model more suited to larger-scale players.

Highlights:

• Strong UK and EU presence with FCA authorisation
• Early mover in Pay by Bank and VRP solutions
• Comprehensive developer support and API docs

Plaid

Plaid is another major name in open banking providers, offering account information services (AIS) and payment initiation services (PIS) as part of its global platform. After its launch in the UK market, Plaid became a recognised option for businesses needing connectivity to both traditional banks and digital challengers.

Plaid’s focus is on data access and enrichment. Its APIs allow firms to pull transactions, verify balances, and analyse customer spending behaviours, which is valuable for personal finance apps, lending, and credit scoring. For payments, Plaid supports Pay by Bank flows, though its coverage and pricing are generally aligned with fintechs operating across multiple markets.

While its strength lies in being a multi-region provider, businesses focused solely on the UK sometimes prefer a more locally optimised platform.

Highlights:

• Established player with global reach
• Strong AIS data aggregation and enrichment
• Supports Pay by Bank transactions

Yapily

Yapily positions itself as a connectivity-first open banking provider, focusing on strong API integrations for both data access and payments. Like Tink, it supports AIS and PIS services, giving businesses the ability to retrieve account data and initiate transactions securely.

Its platform is often chosen by fintechs and enterprise-level firms that want a technical foundation to build custom financial products. With coverage across the UK and Europe, Yapily appeals to companies operating in multiple markets.

On the payments side, Yapily enables Pay by Bank transactions and continues to expand its offering around variable recurring payments (VRP). Its developer-friendly approach is a plus, but smaller firms may find the setup better suited to teams with in-house engineering capacity.

Highlights:

• API-first approach with strong UK and EU coverage
• AIS and PIS functionality for data and payments
• Supports Pay by Bank and VRP

Wrapping Up

When exploring open banking providers like Tink in the UK, businesses have several strong options. Platforms such as TrueLayer, Plaid, and Yapily offer reliable services for payments and data connectivity, especially for larger or multi-market firms.

For organisations that prioritise UK coverage, FCA compliance, and faster deployment, Finexer stands out. With connections to 99% of UK banks, a usage-based pricing model, and onboarding support that helps firms go live quickly, Finexer is built to meet the needs of accountants, financial platforms, and mid-sized businesses.

Instead of stretching across multiple regions, Finexer focuses solely on the UK, making it an attractive choice for firms that need open banking to work faster, cleaner, and with audit-ready precision.