Open Banking Platform Yapily Launches in Spain

Yapily, an open banking platform, has expanded into Spain, according to a company statement. Yapily notes that it already can cover over 95% of Spanish bank accounts, both retail and commercial, at 52 banks.

Yapily recently raised $51 milion in Series-B funding and said it is hiring a local team in Spain.

Yapily says that with 100% PSD2 connectivity it has near-total market coverage for the deployment of open banking-enabled products and services. Vivid, a Berlin-based financial platform for investing, banking and saving, already uses Yapily in Spain.

Angel Salamanca, Yapily’s Country Lead for Spain, said Spain’s Fintechs are looking for scalability, innovation, and opportunities for international expansion.

“Yapily’s open banking infrastructure can provide them with all of these as well as the tools to build better products and services. Our infrastructure is API-first, secure, reliable and delivers a great developer experience. Yapily is content to remain in the background – invisible to end users and putting our customers in control and at the forefront in creating better user journeys and experiences.”

Yapily states that Salamanca brings to the organization considerable experience of financial services innovation for Spain’s open banking sector. He was previously responsible for Banco Santander’s open banking services strategy and its integrations with Fintech and non-financial companies. Prior to that, he spent time at a range of other organizations, including BBVA and PwC.

Based in the UK, Yapily operates in multiple European Union member countries, including Germany, Italy, and France.

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