Yapily – Europe’s leading open banking infrastructure provider – today announces its strategic collaboration with Google to support the rollout of Google's bank account verification service as an option for business customers in Europe.
Building on momentum
The announcement comes as open banking adoption continues to accelerate across Europe. In the UK alone, open banking payments now total 29.9 million per month, with nearly one in four adults and SMEs using the technology. The sector is valued at over £4 billion and growing over 70% year-on-year, having already created nearly 5,000 new jobs.
In Europe, open banking accounted for 17% of total e-commerce transaction value in 2024. While the number of users across the continent has soared to 63.8 million – a five-fold increase on 2020 – in a global market set to grow a further 427% by 2029.
Yapily has had a front-row seat to this growth. The company recently hit profitability, significantly increased its revenue in the last 9 months, and added a string of major partners to its platform, such as Adyen and Allica Bank, alongside long-standing partners like Intuit QuickBooks, Pleo, Zilch, and Ant Group. Yapily partners can connect to over 2,000 banks in 19 markets across the UK and Europe.
The platform supports a wide range of use cases, from instant account-to-account payments and Variable Recurring Payments (VRPs) to data insight and transaction categorisation, and real-time cash flow tools and personalised financial services for both retail and SMEs.
Yapily’s founder and CEO, Stefano Vaccino, said: “I’m extremely proud that Google is working with Yapily to help deliver Google’s bank account verification services for business customers in Europe. With open banking adoption predicted to grow significantly in the next few years, I’m excited to see what the future of this strategic collaboration holds.”