6 TrueLayer Alternatives for Payments in the UK

If you’re here, you’re likely evaluating TrueLayer alternatives for your payment flows. And if payments sit at the heart of your product, whether you’re a PSP, fintech, lender, or financial institution, you’re in the right place.

Many teams start looking beyond TrueLayer because they need one or more of the following:

• Broader or deeper bank coverage across the UK or Europe
• More control over payment flows, including white-label journeys
• Greater flexibility around account-to-account (A2A) payments, sweeping/VRP, refunds, or payouts
• Clearer commercial models as payment volumes grow
• A provider whose roadmap matches their own

The good news?
The UK now has a strong set of Open Banking providers — each offering its own blend of payment functionality, coverage, customisation, and pricing flexibility.

This guide breaks down 6 TrueLayer alternatives worth considering if your goal is to improve payment initiation, expand into new payment journeys, reduce checkout friction, or optimise costs.

6 alternatives to TrueLayer for payments

Each section explains coverage, payment features, white-label options, strengths, and ideal use-cases — so you can shortlist the provider that fits your workflow.

What to Look for in a TrueLayer Alternative

Criteria	What It Means	Why It Matters for Payments
Payment Initiation (PIS) Depth	How well the provider handles account-to-account transactions, settlement times, and bank-level behaviour.	Strong PIS = fewer failed payments, smoother checkout flows, and predictable settlement.
Support for VRP & Sweeping	Ability to run recurring transfers, automated top-ups, or controlled payment sequences.	Essential for subscriptions, wallets, recurring payouts, and repayment journeys.
Coverage (UK + Europe)	Number of supported banks, reliability across institutions, and business account connectivity.	Directly affects payment success rates and the regions your payment flows can serve.
White-Label & Customisable Flows	Ability to tailor user journeys with your branding or control the full UX.	Reduces checkout drop-offs and maintains customer trust during payments.
Pricing & Commercial Flexibility	Whether costs scale with your volume, including per-transaction fees and discounts.	Helps avoid cost inflation as transactions increase and ensures predictable margins.
Developer Experience	Quality of API docs, ease of integration, SDK availability, and sandbox capabilities.	Determines your go-to-market speed and engineering effort required.
Operational Reliability & Support	Uptime, real-time alerts, error-handling, reporting, and reconciliation tools.	Ensures stable payments at scale and reduces the burden on your internal teams.

1. Finexer

Finexer helps PSPs, lenders, insurtech platforms, and financial institutions use Open Banking to collect real-time bank data and power account-to-account payments with clean documentation, predictable pricing, and fast integration.

Finexer focuses on the infrastructure layer — handling bank connections, regulatory compliance, consent flows, and the operational details that sit behind every payment or data request. This gives your team the freedom to control the user experience, design your own payment journeys, and keep your brand in front of customers while Finexer handles the regulated plumbing underneath.

If you want a TrueLayer alternative that offers UK-wide bank coverage, simpler pricing, and a developer-first approach, Finexer is one of the strongest options to consider.

Deep, Consistent Coverage for Payments & Data Across the UK

If you’re evaluating TrueLayer alternatives, one of the challenges you might have faced is that many providers spread their attention across global geographies, which can create uneven coverage, slower improvements, or less consistency bank-to-bank.

Finexer takes a different approach:
It focuses entirely on the UK, giving you complete bank coverage with consistent behaviour across major retail and business banks.

With Finexer, you can access:

Category	Capability	What You Can Do With It
Payments	Payment Initiation (PIS)	Trigger instant bank transfers directly from customer accounts for deposits, payouts, or collections.
	Pay by Bank	Offer account-to-account checkout for online payments, wallet top-ups, deposits, refunds, and disbursements.
	Bulk & batch payments	Send multiple payments in a single run for payroll, supplier payouts, or refunds at scale.
	Recurring payment setups	Configure repeat payment journeys where banks support recurring or sweeping-style arrangements.
	Low-friction payer journeys	Keep redirects to a minimum and shorten the number of steps required to complete a payment.
Data	Real-time account information	View up-to-date account details before moving money or approving an application.
	Balance checks	Confirm available balances in real time to reduce failed or partially funded payments.
	Up to 7 years of transactions	Analyse long-term income, spending, and commitments for deeper affordability and risk checks.
	Categorised & enriched data	Work with cleaned merchant names and categories instead of raw transaction strings.
	Unlimited data fetch	Run repeated checks and refreshes without being penalised for longer review cycles or complex cases.

Finexer connects to both consumer and business accounts, making it suitable for PSPs, lending, accounting, wealth, and insurtech workflows.

How Finexer Helps Real Businesses Deliver Better Payment & Data Experiences

Finexer is already used by companies across lending, identity verification, digital signature tools, and community finance. Here are real examples:

✔ Committee App (ROSCA savings platform): Building financial inclusion with Open Banking

Finexer enables Committee App to securely collect bank data from users to support fair credit allocation in community savings circles.

Impact includes:

• Faster financial assessments
• Seamless user onboarding
• Greater transparency & trust among savings groups

Read case study: Building financial inclusion through Open Banking: Committee App & Finexer

✔ VirtualSignature-ID: Strengthening digital identity verification using bank data

Finexer powers the bank-data verification layer inside VirtualSignature-ID’s identity platform.

Results:

• Reduced document requests
• More accurate verification decisions
• A smoother end-user onboarding journey

Read case study: Transforming digital identity verification: VirtualSignature-ID & Finexer

✔ Sysynkt (ERP platform): Automating reconciliation & financial workflows

Sysynkt uses Finexer to fetch live bank data and reconcile financial operations directly inside its ERP environment.

Benefits:

• Faster reconciliation cycles
• Improved accuracy in financial reporting
• Streamlined operational workflows

Read case study: Driving ERP automation with Open Banking: Sysynkt & Finexer

2. Yapily

Yapily is an infrastructure-level Open Banking provider covering the UK and Europe. It’s designed for businesses that want to build their own payment flows while relying on a stable backend for bank connections and compliance.

Where Yapily Fits

• PSPs and fintechs operating across multiple European markets
• Teams that prefer infrastructure-only providers
• Businesses needing both data and payments at scale

Key Features

• Connectivity to nearly 2,000 banks across 19+ markets
• Strong PIS support for A2A payments, top-ups, and VRP
• White-label and hosted flow options
• Enterprise-level compliance and audit structure

Best For

Companies that need multi-country coverage and deeper API control, rather than a UK-focused go-live with faster deployment.

3. Token.io

Token.io is a payments-focused Open Banking provider known for its strong Pay by Bank performance across the UK and Europe. It’s built for businesses that prioritise A2A payments above data or enrichment.

Where Token.io Fits

• Good option for PSPs expanding Pay by Bank across multiple EU markets
• Works well for subscription billing and wallet top-ups
• Strong VRP and sweeping capabilities

Key Features

• Broad EU coverage for A2A payments
• VRP support for recurring or automated transfers
• White-label flows for enterprises and banks
• Regulated as both AISP and PISP

Best For

Companies running high-volume payments across Europe or shifting card traffic to account-to-account rails.

4. Tink

Tink is a Visa-owned Open Banking provider with broad European coverage. It combines payments and financial data services, making it suitable for companies operating across multiple EU markets rather than UK-specific use-cases.

Where Tink Fits

• Businesses expanding into several European regions
• Products that need both payments and data aggregation
• Teams already aligned with Visa’s wider ecosystem

Key Features

• A2A payments across 18+ European countries
• Account aggregation and spending insights
• White-label and hosted flows (note: white-label often comes at an extra cost)
• Strong bank connectivity for multi-market services

Best For

Fintechs needing multi-country coverage and broader data products, rather than UK-focused AIS/PIS optimisation.

5. Salt Edge

Salt Edge is another well-known option for businesses exploring alternatives to TrueLayer, especially if they require large international coverage rather than a UK-focused setup. The platform offers both payments and data, but its biggest strength lies in operating across 45+ countries.

Where Salt Edge Fits

• Platforms working across multiple European markets
• Teams needing AIS + PIS under a single provider
• Businesses that rely heavily on enriched transaction data

Key Features

• Connectivity in 45+ countries
• Support for recurring and bulk payment flows
• Enrichment and categorisation for transaction data
• White-label interfaces for finance and PFM-style apps

Best For

Companies prioritising international reach instead of UK-optimised payment performance.

6. Bud

Bud is primarily a data intelligence platform that also supports payments, but its strongest capabilities sit in enrichment, categorisation, and affordability insights — not payment initiation performance.

Where Bud Fits

• Lending, credit, or affordability workflows
• Businesses needing deep categorisation or behavioural insights
• Teams using bank data for automation or underwriting

Key Features

• Advanced transaction enrichment
• Affordability scoring and spending insights
• AIS connectivity across major UK banks
• Some payment functionality depending on product tier

Best For

Products where data and insights matter more than pure payment flows.

Conclusion

If you’re evaluating TrueLayer alternatives, the right choice depends on whether you prioritise UK-focused payments, multi-country coverage, or advanced data capabilities.

• Finexer stands out for teams that want fast deployment, predictable UK bank performance, and full control over the payment and consent journey.
• Yapily is a strong fit for multi-market coverage and businesses that prefer deep API-level control.
• Token.io is best for Pay by Bank at scale and VRP-focused payment models.
• Tink works well for products expanding across several European markets with combined data + payment needs.
• Salt Edge suits companies that operate internationally and need global AIS/PIS connectivity.
• Bud is ideal for lending and risk workflows where enriched financial data matters more than payment initiation.