Bank Feed Risk When Open Banking Providers Get Acquired

Yapily chief executive Stefano Vaccino said on October 2 that the Lakestar-backed provider will stay out of open banking consolidation, as it reported a £355,000 profit on £16.7m of turnover for 2025.

“We prefer to remain on the sidelines for the moment and focus on organic growth and sustainable growth,” Vaccino said when asked whether Yapily had held merger talks. He said he expects more deals across the sector.

For finance teams and accounting software vendors, the question is practical. Many of them take bank feeds and pay-by-bank payments from a small number of infrastructure providers, and a change of owner at one of those providers can alter pricing, priorities and support without any change on the customer’s side.

Yapily stays out of open banking consolidation

Yapily is a London-based infrastructure company that lets businesses read bank data and start payments through open banking. Its customers include Revolut, Intuit, Adyen and Google. It employed 102 people at the end of 2025.

Turnover more than doubled in 2025, and the company moved from a loss to a profit of £355,000. Vaccino attributed the result to a lean organisation and higher revenue from existing customers.

Yapily has not raised money since a $51m Series B in 2021, led by Sapphire Ventures with Lakestar, HV Capital and Latitude taking part. Vaccino said the company held off because it wanted to show open banking was a viable business and that Yapily was committed to it for the long term.

Future funding would come, he said, “if we think open banking needs an acceleration”. A profitable company with no need for new capital has little reason to sell, which is the position Vaccino described.

Who is buying: the open banking consolidation so far

The buyers are payment companies adding capabilities, not accounting software vendors. Three recent deals set the pattern.

TrueLayer, the London pay-by-bank network, agreed to buy Stockholm-based Zimpler in October 2025 and completed the deal on March 3, 2026, after approval from the Swedish Financial Supervisory Authority. TrueLayer said Zimpler would keep operating normally while integration began.

“Today we become one team with a shared mission: to change the way the world pays,” said Francesco Simoneschi, chief executive and co-founder of TrueLayer.

On May 29, 2026, TrueLayer announced the purchase of in3, a Dutch buy now, pay later provider that offers consumer credit through bank payments. Financial terms were not disclosed. TrueLayer said its network reaches more than 25 million consumers in 22 countries and processes over $150bn in annualised payment volume.

The third deal is PayPoint’s move on obconnect, a UK open banking technology provider. PayPoint completed its investment on October 30, 2024, taking a 55.3% stake after announcing a £10.5m investment in August of that year. PayPoint had first invested in obconnect in 2022.

Earlier rounds followed the same logic. Mastercard bought Finicity in 2020 and Visa bought Tink in 2022, both card networks buying data-access businesses.

What it means for bank feed and reconciliation supply

Finance teams rarely contract with these providers directly. The relationship runs through the accounting platform, the ERP or the bank, so the buyer often cannot see which aggregator sits behind a feed.

That matters because the feed underpins bank reconciliation and cash visibility. If a provider is sold, the new owner sets the roadmap. The two TrueLayer deals show the direction: both aim at checkout payments and consumer credit, which is a different market from a controller’s daily cash position.

The risks fall into three groups:

• Supplier concentration. As independents are absorbed, a software vendor that once could choose between several aggregators may find fewer left, and some of them owned by a competitor’s payments business.
• Pricing. A provider folded into a larger group can reprice data access or bundle it with payment services, and the cost passes down to software subscriptions.
• Continuity. Integration work can change bank coverage, support levels or API versions. Zimpler and in3 both continue to operate for now, but the commitment is the buyer’s to keep.

None of the three deals has been reported to interrupt a customer’s feed. The exposure is in the contract terms, not in any outage to date.

Questions to put to software vendors

Practice managers and finance leads can ask the vendors that supply their ledger or payment tools four things.

First, which open banking provider supplies the feed, and does the vendor use more than one. Second, what happens to the contract if that provider changes owner. Third, how much notice does the vendor give of price changes in data costs. Fourth, can bank data and payment mandates be moved to another provider without the customer re-authorising every account.

These belong in a formal vendor review. Accountio’s finance software selection kit includes a template for recording supplier dependencies and exit terms alongside the usual feature comparison.

Software vendors face the same exposure from the other side. A vendor whose bank connectivity runs through one aggregator carries that provider’s ownership risk on behalf of every customer. Intuit, which Yapily lists as a customer, is one example of a large platform that buys connectivity as infrastructure.

Open banking consolidation and the 2027 rule changes

Vaccino said the next two years will matter. “I think 2027 and 2028 are going to be very important years from an open banking perspective,” he said.

He pointed to the next stage of commercial variable recurring payments, which let a customer authorise a business to pull recurring, variable amounts directly from a bank account. These payments are now moving into e-commerce.

He also named the EU’s Financial Data Access framework, which would extend open banking beyond payment accounts and which he expects to become law soon. Yapily has been hiring engineers ahead of both changes.

Both developments widen the amount of bank and payment data that flows through providers. They also raise the value of the providers that carry it, which is the usual condition for further acquisitions.

The next test for buyers comes in the integration periods now running at TrueLayer and PayPoint, and in whether Yapily’s independence holds as the 2027 payment changes arrive. Finance teams should ask their vendors for provider details before the next renewal, not after the next deal.