Afterbanks Arcopay
Arcopay (formerly Afterbanks) is a Madrid-based, PSD2-licensed Open Banking API platform — a subsidiary of Minsait (Indra) — serving 250+ fintechs, lenders, and ERP providers across Europe and Latin America with bank data aggregation, account-to-account payments, and account verification.
- Company typePrivate
- Founded2012
- HeadquartersMadrid, Spain
- Headcount11–50
- GTM typeB2B
- OfferingSoftware
What Afterbanks Arcopay does
Arcopay (legal entity: MORPHEUS AIOLOS S.L, formerly Afterbanks) is a Madrid-based Open Banking API platform founded in October 2012 and operating as a subsidiary of Minsait, the IT services arm of Spanish-listed Indra. The company operates an "apified" PSD2-licensed platform providing financial data aggregation (Account Information Services), Account-to-Account payment initiation, and account holder verification, supplemented by three add-on modules: automated Spanish Norm 43/19 file downloads for accounting reconciliation, non-financial aggregation from telecommunications and utilities providers, and brokerage wealth aggregation for private banking clients.
The platform connects to more than 20 financial institutions across Europe and Latin America — including Santander, BBVA, Sabadell, Bankinter, CaixaBank, ING, Eurobank, Novobanco, Caixa Geral, BPI, UniCredit, Intesa Sanpaolo, Alpha Bank, Banamex, Banco Pichincha, Banco Nación, and Actinver — and serves over 250 clients spanning fintechs, lending and credit platforms, accounting/ERP software providers, insurance, and enterprise accounts. Notable logos include Santander, BBVA, Sabadell, Mapfre, Sage, Holded, Grupo Primavera, Sofinco, DelSol, and Gilbobs.
Commercially, Arcopay runs an API-first B2B go-to-market combining direct enterprise field sales with a self-serve developer portal. Revenue comes from three tiered subscription plans — Basic (up to 300 monthly connections), Startup (up to 1,000), and Corporate (up to 3,000) — all with quote-based pricing and inclusive onboarding and technical support. The company is also authorized by the UK FCA as a PISP and AISP, extending its regulated service footprint beyond the EEA. Total disclosed equity funding is approximately $454K across Angels Capital (2018) and Lanzadera Accelerator (2019), suggesting the business has operated with limited external capital, consistent with its position within a larger parent group.
Afterbanks Arcopay firmographics
Firmographics- Name
- Afterbanks Arcopay
- Legal name
- MORPHEUS AIOLOS S.L
- Website
- https://arcopay.io
- Company type
- Private
- Founded year
- 2012
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Arcopay (formerly Afterbanks) is a Madrid-based, PSD2-licensed Open Banking API platform — a subsidiary of Minsait (Indra) — serving 250+ fintechs, lenders, and ERP providers across Europe and Latin America with bank data aggregation, account-to-account payments, and account verification.
- Ownership category
- akta.pro rank
Afterbanks Arcopay industry classification
Industry- Product category
- Open Banking API Platform
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232), Finance and Insurance (52)
- SIC
- Services-Computer Programming, Data Processing, Etc. (7370), Finance Services (6199)
- akta.pro primary industry
- A2A Payment Initiation Service Providers (PISPs) (FSAMAFAB)
- akta.pro secondary industry
- Payment Initiation & Account-to-Account (A2A) Payments (PIS, RTP initiation) (FSAGACAI)
Keywords
Where Afterbanks Arcopay is headquartered
LocationHeadquarters
- HQ city
- Madrid
- HQ country
- Spain
- HQ region
- Europe
Offices1 record
Markets served
Afterbanks Arcopay business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Technology or R&D, Personnel, Operations, Marketing or Sales
Revenue model
- API Usage-Based Subscription: Tiered subscription model based on monthly API connections. Three plans (Basic up to 300, Startup up to 1,000, Corporate up to 3,000 monthly connections) with custom pricing. Plans include initial onboarding session and technical support. Revenue generated through recurring subscription fees tied to connection volume tiers.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Basic Plan: Up to 300 monthly connections, focused on low volumes and internal company consumption |
| Subscription | Monthly | Startup Plan: Up to 1,000 monthly connections, focused on medium volumes with scalability projection |
| Subscription | Monthly | Corporate Plan: Up to 3,000 monthly connections, focused on high volumes with projects of determined size |
Go-to-market motion2 records
Distribution channels3 records
Marketing channels8 records
Afterbanks Arcopay product offering
Product offeringCore offering
Arcopay is an Open Business Technology platform that delivers API-based financial data connectivity and Account-to-Account payment services to businesses. Its core offerings include Financial Aggregation (Account Information Services under PSD2), Payment Initiation for bank-to-bank transfers, and Account Holder Verification, complemented by specialized modules for Spanish Norm 43/19 file downloads, non-financial aggregation (telco and utility data), and brokerage wealth aggregation. Services are delivered through a tiered subscription model tied to monthly API connection volumes, with onboarding and technical support bundled into every plan.
Product overview
Arcopay is an Open Business Technology platform providing API-based financial data connectivity and Account-to-Account payment services. The platform operates as a unified offering with a core technology stack centered on Financial Aggregation (Account Information Services), Payment Initiation, and Account Holder Verification, augmented by specialized modules including Norm 43/19 File download, Non-Financial Aggregation (telecom and utilities), and Brokerage Wealth Aggregation. Services are delivered through three tiered pricing plans (Basic, Startup, Corporate) differentiated by monthly connection volumes, with the monthly cost including onboarding and technical support across all services.
Differentiator
Problem solved
Functional benefit
Products and services
- Financial Aggregation (Account Information Services) Core service enabling connection and aggregation of data from multiple financial institutions to obtain real-time connectivity, providing detailed insights into client financial health and reducing reconciliation time and errors. Targets enterprises and fintechs building products that require bank data connectivity.
- Payment Initiation PSD2 Account-to-Account payment technology enabling customers to pay directly from their own bank account in a secure, fully traceable way. Replaces traditional bank transfers with digital payments capable of handling higher average transaction values and streamlining checkout conversion.
- Account Holder Verification Verifies the account holder of a financial product by gathering information directly from the user's bank. Enables lenders and credit platforms to quickly access essential details during loan applications and assess risk with accuracy and security.
- Norm 43/19 File Download Automates the download of Spanish Norm 43 and Norm 19 banking files for accounting software, offering hassle-free connectivity and slashing bank reconciliation time. Service only available in Spain and tailored to accounting/ERP platforms serving Spanish customers.
- Non-Financial Aggregation Connects with top telecommunications providers and utilities to aggregate invoices and contracts in a standardized JSON format, enhancing management software offerings for end users by simplifying invoice and contract collection.
- Brokerage Wealth Aggregation Wealth aggregation technology providing a complete view of clients' investments across fixed and variable income assets. Enables portfolio analysis, risk monitoring, and tax efficiency planning for private banking and wealth management clients.
Quantifiable outcome
- Reduced reconciliation time through automated bank connections and file downloads
- +1 more outcomes
Companies that use Afterbanks Arcopay
Customer profileNamed customers16 records
Segments5 records
Ideal customer profiles5 records
Afterbanks Arcopay technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Feature6 records
Afterbanks Arcopay partnerships and signals
Strategic signalPartnerships
Two partnerships are on record, tiered minor.
- Pensumo Pensión por Consumo, S.L.minorPartnership for providing banking aggregation services related to pension/consumption services. MORPHEUS AIOLOS provides financial data aggregation services to Pensumo for their pension-related products.
- DiglominorPartnership for providing banking aggregation services for scoring and financial data analysis. MORPHEUS AIOLOS provides user financial information aggregation to obtain financial data for scoring purposes.
Scale indicators3 records
Recent moves1 record
Expansion highlights6 records
Afterbanks Arcopay competitors and assessment
Company assessmentDirect peers
- Plaid: Global Open Banking and financial data-aggregation platform connecting thousands of apps to bank accounts via APIs. Closely comparable to Arcopay in core AIS/PIS functionality, though Plaid focuses on the US/UK while Arcopay concentrates on Iberia/LatAm.
- TrueLayer: UK-based AISP/PISP providing PSD2-compliant account aggregation and payment initiation APIs across Europe. Directly comparable as a regulated Open Banking API provider with similar product surface area (AIS, PIS, verification).
- Tink: European Open Banking platform (acquired by Visa) offering PSD2-compliant account aggregation and payment initiation across multiple European markets. Comparable in regulated PISP/AISP positioning and pan-European bank connectivity.
- Yapily: Open Banking API infrastructure provider authorized across multiple European jurisdictions for AIS and PIS. Directly comparable in API-first B2B Open Banking model targeting fintechs, lenders, and enterprise software vendors.
- Salt Edge: Open Banking API platform with global bank connectivity across Europe, UK, Canada, and beyond. Comparable as a PSD2-aligned aggregator serving fintechs, lenders, and ERP/accounting software providers with similar cross-border footprint.
- Token.io: Open Banking payment network focused on Account-to-Account payments under PSD2. Directly comparable on the PIS side, offering bank payment initiation for merchants and platforms across European markets.
Broad incumbents
- Worldline: Large European payment processor with Open Banking capabilities as part of a broader merchant payments and financial services portfolio. Adjacent incumbent that competes on payment initiation at much larger scale.
Others
- BBVA API Market: Bank-operated Open Banking developer platform from BBVA. Comparable as a regulated provider of AIS/PIS APIs in the Spanish market, but operating as both a customer/partner and competitive alternative to Arcopay.
Market position
Strengths4 records
Weaknesses4 records
Competitive moat4 records
Key risks6 records
Key highlights5 records
Customer concentration
Afterbanks Arcopay social profiles
Digital presenceAfterbanks Arcopay financial estimates
Financial estimateRevenue estimate
Valuation estimate
Afterbanks Arcopay leadership team
Management profileNumber of profiles
Afterbanks Arcopay funding detail
Funding detailFunding overview
Funding rounds3 records
Investors2 records
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Afterbanks Arcopay M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Afterbanks Arcopay
What does Afterbanks Arcopay do?
Arcopay is an Open Business Technology platform that delivers API-based financial data connectivity and Account-to-Account payment services to businesses. Its core offerings include Financial Aggregation (Account Information Services under PSD2), Payment Initiation for bank-to-bank transfers, and Account Holder Verification, complemented by specialized modules for Spanish Norm 43/19 file downloads, non-financial aggregation (telco and utility data), and brokerage wealth aggregation. Services are delivered through a tiered subscription model tied to monthly API connection volumes, with onboarding and technical support bundled into every plan.
Is Afterbanks Arcopay a public or private company?
Afterbanks Arcopay is a private company. It is classified as corporate owned and is currently operating.
When was Afterbanks Arcopay founded?
Afterbanks Arcopay was founded in 2012. It employs 11 to 50 people.
Where is Afterbanks Arcopay based?
Afterbanks Arcopay is headquartered in Madrid, Spain, in the Europe region.
How does Afterbanks Arcopay make money?
One revenue line is on record: API Usage-Based Subscription.
Who are Afterbanks Arcopay's main competitors?
Direct peers on record are Plaid, TrueLayer, Tink, Yapily, Salt Edge and Token.io. Worldline is listed as a broad incumbent. BBVA API Market is listed as an others.
Does Afterbanks Arcopay have an API?
Yes. Arcopay provides an API for financial aggregation (Account Information Services under PSD2) and real-time Account-to-Account payment initiation. The platform enables developers to connect and aggregate data from multiple financial institutions, initiate payments directly from bank accounts, verify account holders, download Spanish Norm 43/19 files, aggregate non-financial data (telecommunications and utilities), and access brokerage wealth data. The platform is described as an 'apified platform' with connectivity to over 20 banks including Santander, BBVA, Sabadell, CaixaBank, Bankinter, ING, and others.
What industry is Afterbanks Arcopay in?
Afterbanks Arcopay's product category is Open Banking API Platform. Its primary akta.pro industry code is FSAMAFAB, A2A Payment Initiation Service Providers (PISPs), with a secondary code of FSAGACAI, Payment Initiation & Account-to-Account (A2A) Payments (PIS, RTP initiation). Its NAICS code is 52232 and its SIC code is 7370.