Banking Data Aggregation: 44+ APIs Compared (2026)

What is Banking Data Aggregation?

Banking data aggregation is the process of collecting, combining, and organizing financial information from different bank accounts, credit cards, loans, and other financial products into one unified view. This technology enables applications to access bank data securely with customer consent, powering everything from personal finance apps to automated lending decisions.

Modern banking data aggregation relies on APIs (Application Programming Interfaces) that connect to financial institutions. Rather than building separate integrations with each bank, developers use aggregation providers like Plaid, Tink, or TrueLayer to access thousands of banks through a single integration.

What Banking Data Aggregation APIs Provide

Account Information — Balances, account details, and holder information
Transaction History — Historical and real-time transaction data (typically 12-24 months)
Identity Verification — Verify user identity using bank-held KYC data
Payment Initiation — Initiate payments directly from user accounts (PIS)
Data Enrichment — Categorized transactions, merchant identification, spending insights

How Banking Data Aggregation Works

Banking data aggregation connects your application to bank APIs through a middleware layer. Here's the typical flow when a user connects their bank account:

User Initiates Connection

User clicks "Connect Bank" in your app, triggering the aggregator's bank selection interface.

Bank Selection

User selects their bank from the aggregator's list of supported institutions.

Authentication (SCA)

User is redirected to their bank for Strong Customer Authentication—typically 2FA via their banking app.

Consent Approval

User reviews and approves what data your application can access (accounts, transactions, etc.).

Data Retrieval

The aggregator fetches data from the bank API, normalizes it, and returns it in a standardized format.

Ongoing Access

Based on consent duration (typically 90 days in PSD2), you can continue accessing updated data.

Connection Methods

Banking data aggregators use different methods to connect to financial institutions:

PSD2/Open Banking APIs — Secure, regulated APIs that banks are required to provide under Open Banking regulations. Most reliable method.
Bilateral API Agreements — Private partnerships between aggregators and banks, often providing richer data than regulated minimum.
Screen Scraping — Legacy method using automated login. Being phased out in regulated markets but still used where APIs aren't available.

Benefits of Banking Data Aggregation

Banking data aggregation provides significant benefits for both businesses and consumers:

👁️

Complete Financial Overview

See all accounts from multiple banks in one place. Users get a comprehensive view of their finances without logging into multiple apps.

⚡

Faster Decision Making

Instant access to financial data enables real-time credit decisions, faster onboarding, and automated financial assessments.

🔒

Enhanced Security

Users authenticate directly with their bank. No need to share credentials with third parties. Full audit trail of data access.

🛠️

Simplified Integration

One API integration connects to thousands of banks. No need to build and maintain separate connections for each institution.

📊

Data Normalization

Receive consistent, standardized data format regardless of which bank it comes from. Easier to process and analyze.

🌍

Global Reach

Access banks across multiple countries through regional or global aggregators. Scale internationally with minimal additional development.

Top Banking Data Aggregation Providers

Here are the leading banking data aggregation API providers, sorted by bank coverage:

#	Provider	Banks	Countries	Docs	View
1	Salt EdgeVerified	1,589	70	-	View
2	YAXI	820	28	-	View
3	Plaid	281	25	-	View
4	enable:BankingVerified	108	39	-	View
5	NeonomicsVerified	98	40	-	View
6	BridgeVerified	83	62	Docs	View
7	TrueLayerVerified	68	63	-	View
8	Klarna	63	40	-	View
9	Nordigen (acquired by GoCardless)	55	62	Docs	View
10	IbanityVerified	54	38	Docs	View
11	BankingSDKVerified	50	38	-	View
12	Budget InsightVerified	37	38	Docs	View
13	FintectureVerified	34	61	Docs	View
14	Moneyhub Enterprise	26	38	-	View
15	Mono (acquired by Flutterwave)	24	3	Docs	View

View All 44 Providers →

Banking Data Aggregation by Region

The best aggregation provider depends on your target market. Here's a breakdown by region:

United States

The US market is dominated by established players with deep bank coverage through bilateral agreements:

#	Provider	Banks	Countries	Docs	View
1	Plaid	281	25	-	View
2	Token	13	26	-	View
3	Dapi	-	-	Docs	View
4	Finicity	-	-	Docs	View
5	MX	-	-	Docs	View
6	Stripe Financial Connections	-	-	Docs	View

Europe (PSD2)

European aggregators operate under PSD2 regulation, providing standardized access across EU banks:

#	Provider	Banks	Countries	Docs	View
1	Salt EdgeVerified	1,589	70	-	View
2	YAXI	820	28	-	View
3	enable:BankingVerified	108	39	-	View
4	NeonomicsVerified	98	40	-	View
5	BridgeVerified	83	62	Docs	View
6	Klarna	63	40	-	View
7	Nordigen (acquired by GoCardless)	55	62	Docs	View
8	IbanityVerified	54	38	Docs	View

United Kingdom

The UK has one of the most mature Open Banking ecosystems with strong regulatory support:

#	Provider	Banks	Countries	Docs	View
1	TrueLayerVerified	68	63	-	View
2	Moneyhub Enterprise	26	38	-	View
3	OpenWrksVerified	21	37	-	View
4	FriendlyScore	16	36	-	View
5	Fidel	3	35	-	View
6	Teller	3	1	-	View

Other Regions

Australia: Basiq (Consumer Data Right)
Latin America: Belvo (Mexico, Colombia, Brazil)
Africa: Mono (Nigeria, Ghana, Kenya, South Africa)
Middle East: Tarabut Gateway (Saudi Arabia, Bahrain, UAE)
India: Decentro (Account Aggregator Framework)

Banking Data Aggregation Use Cases

Banking data aggregation powers a wide range of financial applications:

💰

Personal Finance Management

Aggregate all accounts in one view, track spending across banks, set budgets, and provide AI-driven financial insights.

🏠

Lending & Credit Scoring

Verify income, analyze cash flow, assess creditworthiness, and make instant lending decisions based on real transaction data.

📒

Accounting & Bookkeeping

Automatically import bank transactions, reconcile accounts, reduce manual data entry, and keep books up-to-date.

🛒

E-commerce Payments

Enable Pay by Bank checkout with lower fees than cards, instant settlement, and reduced fraud risk.

📈

Wealth Management

Provide holistic portfolio views by combining investment, savings, and checking accounts from multiple institutions.

🔄

Subscription Management

Identify recurring payments, detect subscriptions, help users cancel unused services and save money.

🆔

Identity Verification

Verify user identity using bank-held KYC data. Confirm name, address, and account ownership instantly.

💳

Expense Management

Automatically categorize and reconcile employee expenses by connecting corporate cards and bank accounts.

PSD2 and Banking Data Aggregation Regulations

Banking data aggregation is increasingly governed by regulatory frameworks that ensure security and consumer protection:

PSD2 (Europe)

The Payment Services Directive 2 (PSD2) is EU regulation that requires banks to provide API access to licensed third parties. Key aspects:

AISP (Account Information Service Provider) — License required for accessing account data
PISP (Payment Initiation Service Provider) — License required for initiating payments
SCA (Strong Customer Authentication) — Two-factor authentication requirement
90-day re-authentication — Consent must be renewed every 90 days

Other Regulatory Frameworks

UK Open Banking — CMA-mandated framework for the largest UK banks
Australia CDR — Consumer Data Right covers banking and expanding to energy, telecom
US Section 1033 — CFPB rules establishing data sharing rights (implementation in progress)
Brazil Open Finance — Central Bank-mandated phased rollout
India AA — Reserve Bank of India's Account Aggregator framework

View All Open Banking Regulations →

How to Implement Banking Data Aggregation

Follow this step-by-step guide to integrate banking data aggregation into your application:

Step 1: Choose Your Provider

Evaluate providers based on your requirements:

Which countries do you need to support?
Do you need account data, payments, or both?
What's your expected API volume?
What's your budget?

Step 2: Register for API Access

Sign up for a developer account with your chosen provider. Most offer free sandbox environments for testing. You'll receive API keys and access to documentation.

Step 3: Integrate the SDK or API

Most providers offer multiple integration options:

Drop-in SDK — Pre-built UI components for bank connection
REST API — Full control over the user experience
Webhooks — Real-time notifications for data updates

Step 4: Handle Data Processing

Design your data pipeline to handle incoming bank data. Consider data storage requirements, processing schedules, and compliance with data protection regulations (GDPR, CCPA, etc.).

Step 5: Test Thoroughly

Test with sandbox data, then conduct limited production testing before full rollout. Pay attention to edge cases like joint accounts, multiple currencies, and failed authentications.

Learn More About Open Banking APIs

Our comprehensive guide covers technical implementation details, API standards, and best practices for building with Open Banking.

Read the Open Banking API Guide →

Frequently Asked Questions about Banking Data Aggregation

What is banking data aggregation?

Banking data aggregation is the process of collecting, combining, and organizing financial information from different bank accounts, credit cards, loans, and other financial products into one unified view. This is done through APIs (Application Programming Interfaces) that securely connect to banks and retrieve account data with customer consent. Banking data aggregation enables services like personal finance apps, lending platforms, and accounting software.

How does a banking data aggregation API work?

A banking data aggregation API connects to financial institutions either through official Open Banking/PSD2 APIs or secure bilateral agreements. When a user authorizes access, the API retrieves their account information, balances, and transaction history. The aggregator normalizes this data into a standardized format, making it easy for applications to process information from multiple banks through a single integration.

What are the best banking data aggregation APIs?

The best banking data aggregation APIs depend on your region. For the US: Plaid, MX, Finicity, and Yodlee. For Europe: Tink (Visa), TrueLayer, Yapily, and Salt Edge. For the UK: TrueLayer, Yapily, and Moneyhub. For global coverage: Salt Edge and Plaid offer the widest reach across multiple regions.

Is banking data aggregation secure?

Yes, reputable banking data aggregation providers use bank-grade security including 256-bit encryption, secure data transmission, and regular security audits. In Europe, aggregators must be licensed under PSD2 as AISPs (Account Information Service Providers). Data access requires explicit customer consent and can be revoked at any time. Aggregators do not store bank login credentials after the connection is established.

What is the difference between banking data aggregation and Open Banking?

Open Banking is a regulatory framework (like PSD2 in Europe or the UK's Open Banking Standard) that mandates banks to provide API access. Banking data aggregation is the service layer built on top of these APIs. Aggregators use Open Banking APIs where available, plus other connection methods, to provide unified access to multiple banks through a single integration.

How much does banking data aggregation cost?

Banking data aggregation pricing varies by provider and usage model. Common models include per-API-call ($0.10-$2.00), per-user-per-month ($1-$10 MAU), or subscription tiers. Many providers offer free sandbox access for testing and free tiers for low-volume usage. Enterprise pricing is typically negotiated based on volume and features.

What data can I access through banking data aggregation?

Banking data aggregation APIs typically provide access to: account balances and details, transaction history (often 12-24 months), account holder information for identity verification, direct debits and standing orders, and in some cases, loan and credit card details. Some providers also offer enriched data like merchant categorization and spending insights.

Do I need a license to use banking data aggregation?

In most cases, you don't need your own license when using an aggregation provider—you operate under their regulatory license. However, in Europe under PSD2, if you access bank data directly without an aggregator, you need AISP (Account Information Service Provider) registration. Payment initiation requires PISP (Payment Initiation Service Provider) authorization. Always consult legal counsel for your specific use case.

What is PSD2 and how does it relate to banking data aggregation?

PSD2 (Payment Services Directive 2) is EU regulation that requires banks to provide API access to licensed third parties. It created the legal framework for banking data aggregation in Europe by introducing AISPs (for data access) and PISPs (for payments). PSD2 ensures security through Strong Customer Authentication (SCA) and gives consumers control over their financial data.

Which regions have banking data aggregation available?

Banking data aggregation is available globally, with strongest coverage in: Europe (via PSD2 in all EU countries), UK (Open Banking Standard), US (market-driven, CFPB Section 1033 coming), Australia (Consumer Data Right), Brazil (Open Finance), Mexico, India, and the Middle East. Coverage quality varies by region based on regulatory mandates and market adoption.

Ready to Implement Banking Data Aggregation?

Compare 44+ aggregation providers, view bank coverage, and find the perfect fit.

Compare All Providers Account Aggregation Directory

Related Resources

🔄All API Aggregators 📖Aggregator Guide 🔌Open Banking API Guide 📊Account Aggregation 📋Regulations 🏢TPP Directory

Banking Data Aggregation

The complete guide to banking data aggregation APIs. Compare 44+ providers, learn how aggregation works, and find the best solution for your use case.