What OBCONNECT does

OBCONNECT is a UK-based software-as-a-service company specializing in Open Banking applications, with a particular focus on Confirmation of Payee (CoP) — a verification service designed to reduce fraud and improve customer experience by validating payee details before transactions are completed. Founded in 2018 and headquartered in Watford, the company builds infrastructure that enables financial institutions and payment service providers to integrate CoP and related Open Banking capabilities into their digital banking and payment flows. Its core technology centers on API-driven connections to UK bank rails to perform real-time payee verification, alongside bank-to-bank transfer services. The company markets itself as a horizontal SaaS platform serving banks, payment service providers, and adjacent financial-sector clients seeking to embed Open Banking functionality without building it in-house.

The company's primary strategic relationship is with PayPoint, which invested £3 million in OBConnect in July 2022 as part of PayPoint's broader digital transformation strategy. The deal combines capital with a commercial partnership that leverages PayPoint's established payments infrastructure and UK merchant footprint, providing OBConnect with distribution reach into the UK payments ecosystem. OBConnect operates as a focused start-up while benefiting from PayPoint's market presence, positioning it to scale CoP adoption across multiple sectors. Use of funds has been directed at strengthening the digital payments platform and expanding services across additional vertical markets.

Despite the PayPoint partnership, publicly available information on OBConnect is limited. The company has 11–50 employees, does not publicly disclose pricing, and its website (obconnect.io) currently displays only a verification page rather than substantive product or commercial content. No information on management team, board composition, customer logos, revenue, or post-2022 operating milestones is available in the source data, which materially constrains due diligence and explains why revenue and traction signals remain undisclosed.

Name

OBCONNECT

Website

https://obconnect.io

Company type

Private

Founded year

2018

Operating status

Operating

Headcount range

11–50 employees

Short description

OBCONNECT is a UK-based Open Banking SaaS provider founded in 2018, specializing in Confirmation of Payee and related bank-to-bank verification services for financial institutions and payment service providers, distributed in part through a strategic partnership with PayPoint.

Ownership category

akta.pro rank

Product category

Open Banking Software

NAICS

Other Activities Related to Credit Intermediation (522390)

SIC

Finance Services (6199)

akta.pro primary industry

Account Verification & Ownership (AVS/AOV, micro-deposits, auth) (FSAGACAB)

akta.pro secondary industry

Risk, Compliance & Controls for Embedded Finance (KYB/KYC/AML, Fraud, Disputes) (FSAGALAK)

Keywords

• Open Banking Solutions
• Confirmation of Payee
• Payment Verification Software
• Banking SaaS Platform
• Fraud Prevention Services

Headquarters

HQ city

Watford

HQ country

United Kingdom

HQ region

Europe

Markets served

GTM type

B2B

Offering type

Software

Cost components

Personnel, Technology or R&D, Operations, Infrastructure, Marketing or Sales

Core offering

OBCONNECT provides a Software-as-a-Service (SaaS) platform specializing in Open Banking applications, with a primary focus on Confirmation of Payee (CoP) solutions. The platform helps banks and payment service providers verify payee details before transactions to reduce fraud and improve customer experience, and supports broader Open Banking and bank-to-bank transfer services across the UK market.

Product overview

OBConnect is a SaaS (Software-as-a-Service) start-up specializing in Open Banking. The company provides Open Banking applications and services, with a focus on Confirmation of Payee solutions. Following PayPoint's £3 million investment in July 2022, OBConnect partnered with PayPoint to strengthen its digital payments platform and expand Open Banking services across various sectors in the UK market.

Differentiator

Problem solved

Functional benefit

Products and services

• OBConnect Open Banking Platform A SaaS platform specializing in Open Banking applications, providing Confirmation of Payee solutions that help banks and payment service providers verify payee details before transactions to reduce fraud and improve customer experience. It also supports broader bank-to-bank transfer services and Open Banking-enabled capabilities for UK financial institutions.

Quantifiable outcome

• Reduces fraud through Confirmation of Payee verification

Segments1 record

Ideal customer profiles1 record

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Recent moves3 records

Expansion highlights4 records

Direct peers

• TrueLayer: UK-based open banking platform providing account connectivity, verification, and payment initiation APIs to banks and PSPs. Direct competitor to OBConnect in offering open-banking infrastructure to financial institutions.
• Plaid: Global open banking / financial data aggregation platform serving banks, fintechs, and PSPs with account verification and payment connectivity. Comparable in customer base (financial institutions) and core product surface area.
• Yapily: UK and European open banking infrastructure provider offering account information and payment initiation APIs to banks and regulated firms. Directly competes with OBConnect in the UK open banking space.
• Tink (Visa): European open banking platform (owned by Visa) providing account verification, data aggregation, and payment initiation services to banks and fintechs across Europe. Overlaps with OBConnect's core verification and open banking capabilities.
• SurePay: Dutch-based Confirmation of Payee specialist serving banks and PSPs across Europe with payee name verification to combat fraud and misdirected payments. Highly comparable to OBConnect's flagship CoP offering.
• Token: UK open banking / account-to-account payment network providing bank connectivity and verification to financial institutions and corporates. Overlaps with OBConnect on open banking infrastructure for PSPs.
• Salt Edge: Open banking API platform providing account information, verification, and payment initiation services to banks, lenders, and fintechs globally. Directly comparable in product and customer profile.

Emerging players

• Ordo: UK-based payee verification and request-to-pay fintech serving financial institutions and corporates. Closely overlaps with OBConnect's CoP focus, though with a slightly different product mix (request-to-pay plus CoP).
• Modulr: UK Payments-as-a-Service provider offering embedded accounts, payment initiation, and open-banking-adjacent services to PSPs and platforms. Partial overlap with OBConnect's PSP customer base and open-banking-adjacent capabilities.

Broad incumbents

• Visa Direct / Visa Open Banking: Global payments incumbent (via Tink acquisition and Visa Direct rails) offering open banking connectivity and account-to-account payments at scale. Represents the broader competitive backdrop OBConnect operates within.

Market position

Strengths3 records

Weaknesses3 records

Competitive moat3 records

Key risks4 records

Key highlights4 records

Customer concentration

• LinkedInlinkedin.com/company/obconnect

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about OBCONNECT