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A financial technology company based in London called Yapily offers an open banking API platform that allows third-party apps to securely access bank account data and initiate payments. Backed by investors like Lakestar and Holtzbrinck Ventures among others, the company was founded in 2017 by former Goldman Sachs executive Stefano Vaccino.
With a microservices-based technical infrastructure in place at Yapily, the management of containerized applications is accomplished via Docker and Kubernetes. Additionally, the use of Apache Kafka as a message broker enables the platform’s different components to stream data in real time.
Compliance with industry standards such as PSD2, GDPRand ISO 27001 enables Yapily to ensure the safety of its clients’ information0 authentication and authorization protocol it secures its APIs to ensure that only authorized applications are able to access the data.
At Yapily, developers have access to a number of APIs including Account Information API, Payment Initiation API, Confirmation of Funds API, and Data Enrichment API. Multiple banks’ account information that includes balances, as well as transactions, can be retrieved utilizing a uniform format by means of the Account Information API.
With the help of Payment Initiation API developers can start payments straight from their bank accounts and check whether there are sufficient funds available in a particular account by using Confirmation of Funds API. Additionally, the categorization and analysis of transaction data through the use of the Data Enrichment API provides valuable insights into user spending habits for developers.
In supporting developers’ integration efforts, Yapily offers several resources that are highly beneficial. The platform has detailed documentation available along with sample code and a developer portal where developers can seek support as well as interact with peers who are working on similar projects. Also,Yapily provides a safe and secure testing ground where developers can try out their apps without utilizing actual banking data.
Yapily thus far have had no noteworthy security breaches. Still, the company prioritizes security and has integrated various safety protocols to secure its platform from any possible dangers. To maintain the confidentiality and integrity of its platform it carries out routine security checks while also adhering to industry regulations by implementing measures such as two-factor authentication.
In order to achieve their future objectives, Yapily aims to expand globally and build up their platform’s features. The objective is to broaden its global support for banks and other financial entities while simultaneously providing developers with new tools that can help them design inventive applications. Also the company is planning on expanding its staff while investing in R&D in order to stay at the forefront of open banking technology.
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