Mastercard Open Banking (formerly Finicity) vs TrueLayer: both are open banking API aggregators offering account information (AIS) and payment initiation (PIS). TrueLayer has the broader connectivity footprint (64 vs 6 countries of bank coverage), and they overlap on 4 shared markets. Mastercard Open Banking (formerly Finicity) is headquartered in US, while TrueLayer is based in GB.
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Mastercard Open Banking (formerly Finicity) vs TrueLayer at a glance
| Mastercard Open Banking (formerly Finicity) | TrueLayer | |
|---|---|---|
| Headquarters | US | GB |
| Market focus | Multi-region | Multi-region |
| Countries covered | 6 | 64 |
| Institutions tracked | 4,351 | 70 |
| Account data (AIS) | ||
| Payments (PIS) | — | |
| Verification | ||
| Regulated | US | FCA, Central Bank of Ireland, PSD2 |
| Sandbox | ||
| Pricing model | Custom / enterprise quote | Custom / enterprise quote; payments priced per transaction |
| Free production tier | — | — |
| Developer portal | ||
| Sources | ||
| View Mastercard Open Banking (formerly Finicity) | View TrueLayer |
Mastercard Open Banking (formerly Finicity) vs TrueLayer: bank coverage overlap
Mastercard Open Banking (formerly Finicity) and TrueLayer share 4 markets where both connect to banks. Mastercard Open Banking (formerly Finicity) additionally reaches 2 markets TrueLayer does not (NG, PR), while TrueLayer reaches 60 markets Mastercard Open Banking (formerly Finicity) does not (AE, AL, BD, BE, BG, BR, CH, CN…).
Coverage figures are derived from verified per-bank connectivity data tracked on Open Banking Tracker, not provider marketing claims. See the coverage explorer for the full breakdown by continent.
Choose Mastercard Open Banking (formerly Finicity) if…
- you want the largest number of connected institutions (4,351)
- you prefer a provider headquartered in the United States
Choose TrueLayer if…
- you need the widest country coverage (64 markets)
- you prefer a provider headquartered in the United Kingdom
Frequently asked questions
What is the difference between Mastercard Open Banking (formerly Finicity) and TrueLayer?
Mastercard Open Banking (formerly Finicity) vs TrueLayer: both are open banking API aggregators offering account information (AIS) and payment initiation (PIS). TrueLayer has the broader connectivity footprint (64 vs 6 countries of bank coverage), and they overlap on 4 shared markets. Mastercard Open Banking (formerly Finicity) is headquartered in US, while TrueLayer is based in GB.
Which has wider bank coverage, Mastercard Open Banking (formerly Finicity) or TrueLayer?
TrueLayer has wider coverage, reaching 64 countries versus 6 for Mastercard Open Banking (formerly Finicity). They overlap on 4 shared markets.
Can I use both Mastercard Open Banking (formerly Finicity) and TrueLayer?
Yes. Many teams use more than one open banking aggregator — for example one for its strongest region and another for fallback coverage or specific institutions. Both Mastercard Open Banking (formerly Finicity) and TrueLayer expose account information (AIS) and payment initiation (PIS) APIs that can run in parallel.