Thursday, June 20, 2024

TrueLayer recognised as open banking leader by independent research firm

TrueLayer, the leading technology company building financial infrastructure that’s open to everyone, today announced it has been named a Leader in The Forrester New Wave™: Open Banking Intermediaries Q1, 2021.

More than three years into Open Banking, an increasing number of intermediaries are looking to serve organisations, creating a crowded market of potential partners to deliver secure, instant and lower cost payments capabilities.

The report explains how intermediaries with a track record of delivery, strong multi country presence, and a broad set of both firm, developer, and customer-oriented value-added services performed best in its evaluation.

In naming TrueLayer a Leader, Forrester noted the firm has differentiated payment and consent capabilities, with a strong UK presence. It states that TrueLayer “will suit payment-centric firms, particularly in Europe. A big footprint with many of the leading banks in the UK and Ireland make it an obvious choice for this market.”

The report also noted that “developers will like its portal, comprehensive FAQs, and community guidance on Medium”. Customer references note that TrueLayer is a highly collaborative organisation, with a strong track record.

“Open banking is adding value to a wider range of businesses where card processing fees and manual bank transfer processes are stinging merchants and delivering a poor customer experience,” commented Ossama Soliman, chief product officer at TrueLayer. “To have a trusted and independent advisor like Forrester recognise us as a leader in open banking intermediaries is in our opinion a strong validation of our strategy and the innovation we are delivering. For example, how we’re already looking beyond Payments Initiation to solve major pain points for businesses and consumers with our PayDirect solution that combines faster onboarding and instant deposits with instant withdrawals.”

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