FriendlyScore Supported Banks: 16+ Institutions (2026)

Open Banking is a system that allows third-party financial service providers to access consumer banking data through APIs, with customer consent. Regulated by PSD2 in Europe and similar frameworks globally, Open Banking enables services like account aggregation, payment initiation, and financial comparison tools. It promotes competition and innovation in financial services.

An API aggregator (also called open banking platform or data aggregator) is a company that provides unified access to multiple banks' APIs through a single integration. Instead of connecting to hundreds of banks individually, developers integrate once with an aggregator like Plaid, Tink, or TrueLayer to access thousands of financial institutions. This simplifies building financial apps.

Financial aggregators are companies that provide unified access to multiple banks and financial institutions through a single integration. Also known as API aggregators or banking data aggregators, they let developers and apps connect to hundreds or thousands of banks without building separate integrations. Examples include Plaid, TrueLayer, Tink, Yodlee, and MX. Financial aggregators power account linking, transaction history, balance checks, and payment initiation in fintech apps.

PSD2 (Payment Services Directive 2) is an EU regulation that requires banks to provide API access to authorized third parties. Implemented in 2019, PSD2 created the legal framework for Open Banking in Europe. It introduced two new types of regulated providers: AISPs (Account Information Service Providers) for data access and PISPs (Payment Initiation Service Providers) for payments.