EU has made it mandatory for banks to open up bank account data to external parties due to PSD2 regulations that came into force in 2018
Yolt Technology Services (YTS), the business-to-business arm of Yolt, unveiled it is now offering API coverage to over 90% of the Netherlands.
YTS has currently API connections with leading Dutch banks including ING, Rabobank, ABN Amro, SNS Bank, Regio Bank, ASN Bank, Bunq, and Revolut.
Besides, YTS makes on average 14 million API calls per week, offering 3 main services for financial institutions and tech businesses across Europe. More precisely, it provides an account information service, a payment initiation service, and data enrichment service. In addition to that, APIs allow third parties to access financial data efficiently, promoting the development of new apps and services.