We’re pleased to announce that our API is now available to more providers for local fintechs and businesses in Italy, providing seamless and secure access to financial data. This enables companies to expand their offering to Italian customers, while leveraging the opportunities of open banking to create new and innovative products.
Why Italy?
With a flourishing fintech ecosystem, the expansion of our Italian coverage is a major milestone for Yapily. We have prioritised our chosen banks in line with customer demand and our integrations are now being used for both Account Information Services (AIS) and Payment Initiation Services (PIS).
The Italian banking landscape is diverse, with 80% banking with ten of the country’s largest banks. Additionally, the Italian fintech scene is expanding rapidly, with the launch of the country’s first Open Banking Hub in October 2019. This is driving Italian fintech innovation, giving banks the opportunity to keep pace with Third Party Providers (TPPs), and offer increasingly competitive banking services in payments, lending, and wealth management - all powered by Open Banking.
What did we do?
Yapily is now live with Unicredit Italy, Intesa San Paolo, UBI Banca, BancoPosta, Banco BPM, BNL and many more. While focusing, and perfecting, the integrations with Italy’s largest banks, we are continuing to work with smaller fintech players to drive complete connectivity for Open Banking within Italy, the UK and beyond.
But Italian coverage didn’t come easy. Unlike the UK, where the banks adhere to the same API standards, connecting to each Italian institution can include bespoke registration and user journeys, all of which have been simplified by Yapily’s API.
As usual, we’ve thoroughly tested our integrations with live Italian bank accounts, giving complete assurance that Yapily’s open banking platform is seamless across Europe.
What’s next?
Now we have integrated with Italy’s largest institutions, we can set up integrations with other banks quicker than ever before. Next up is Banca Monte dei Paschi and Che Banca!
We’ll be announcing our next European country in the coming weeks - so watch this space!
