TrueLayer’s API expansion can provide access to data from Germany’s leading banks such as Deutsche Bank, Sparkassen and Commerzbank.
Taking its first international step, Open Banking pioneer True Layer has expanded its Data API to Germany.
As a result of Open Banking, which is approaching its first anniversary, TrueLayer enables businesses to use its Data API to access customer data from banks to become more efficient. This data includes transactional history and account information.
TrueLayer upgraded its Data API in November with an aim of reducing the timeliness and costs usually associated with integrating multiple APIs.
TrueLayer’s platform provides access to data from all of Germany’s major banks, according to the company, including Deutsche Bank, Sparkassen, and Commerzbank.
Access to this data enables third-party companies to approve account verification, personal-finance management and provide customised lending options. Additionally, third-party companies can access the user’s categorised transaction data to improve the qualification process for real-estate buying.
The platform has previously secured a series of partnerships with companies including Zopa, CreditLadder and Anorak, to name a few.
Vedika Jain, Product Manager at TrueLayer, said: “We believe that Germany embodies a collaborative outlook between banks, third-parties and consumers that serves as an example to the world. They also have vibrant technology, startup and finance ecosystems, which is building more and more products that are improving the financial world we live in.”