Banfico
- Company typePrivate
- Founded2017
- HeadquartersLondon, United Kingdom
- Headcount51–100
- GTM typeB2B
- OfferingSoftware
Banfico firmographics
Firmographics- Name
- Banfico
- Legal name
- Banfico Ltd
- Website
- https://banfico.com
- Company type
- Private
- Founded year
- 2017
- Operating status
- Operating
- Headcount range
- 51–100 employees
- Ownership category
- akta.pro rank
Banfico industry classification
Industry- Product category
- Open Banking Compliance Software (RegTech)
- NAICS
- Financial Transactions Processing, Reserve, and Clearinghouse Activities (52232)
- akta.pro primary industry
- Account Verification & Ownership (AVS/AOV, micro-deposits, auth) (FSAGACAB)
- akta.pro secondary industries
- Identity & Authentication for Open Banking (SCA support, token exchange) (FSAGACAF), Customer Permissioning & Consent Management (OAuth, scopes, revocation) (FSAGACAC), Customer Identity (KYC/CDD/EDD) & Onboarding (FSAMAMAA)
Keywords
Where Banfico is headquartered
LocationHeadquarters
- HQ city
- London
- HQ country
- United Kingdom
- HQ region
- Europe
Offices6 records
Markets served
Banfico business model
Business model- GTM type
- B2B
- Offering type
- Software
- Cost components
- Personnel, Technology or R&D, Operations, Marketing or Sales, Infrastructure
Revenue model
- SaaS Subscription Services: Cloud-based plug-and-play SaaS solutions for Open Banking compliance and Verification of Payee services delivered on subscription basis
- Implementation and Support Services: Professional services including onboarding, core banking integration support, conformance testing, and change management support
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Annual | Enterprise SaaS subscription model |
Go-to-market motion3 records
Distribution channels4 records
Marketing channels6 records
Banfico product offering
Product offeringCore offering
Banfico provides cloud-based plug-and-play SaaS solutions for Open Banking regulatory compliance and Verification of Payee (VOP/CoP) account verification. Its modular suite — including the Open Banking Dedicated API, OB Directory, Modified Customer Interface, and Account Verification Service — helps banks and fintechs comply with PSD2/PSD3, SAMA Open Banking, and EPC VOP schemes, validate TPP certificates, and prevent misdirected payments and fraud.
Product overview
Banfico is a RegTech company offering a modular Open Banking and Account Verification SaaS platform. The core offerings include the Open Banking Dedicated API (for PSD2 compliance and TPP validation), OB Directory (for regulatory certificate verification), Modified Customer Interface (UK/EU), and Account Verification Services (CoP/VOP for fraud prevention and payment accuracy). These products work together as an integrated compliance suite: the API platform handles access-to-account connectivity, the directory verifies TPP credentials and certificates, the MCI provides fallback interfaces, and the verification services enable name-check confirmations for payments. All solutions are delivered as cloud-based plug-and-play SaaS with global coverage across 14 countries.
Differentiator
Problem solved
Functional benefit
Brands
- OB Directory: Directory service helping banks comply with regulatory certificate checks and mitigate risks in access-to-account, providing TPP regulatory validation synced with European trust services.
- Open Banking Dedicated API
- Modified Customer Interface (UK/EU)
- Account Verification Service (CoP/VOP)
- VOP Service+
- VOPCasts
- EPC VOP Knowledge Series
Products and services
- Open Banking Dedicated API Enterprise API platform compliant with global Open Banking regulatory standards, providing end-to-end delivery for PSD2 access-to-account compliance, TPP regulatory validation, and certificate checks. Built for banks and fintechs.
- OB Directory Directory service helping banks comply with regulatory certificate checks and mitigate risks in access-to-account services, providing TPP regulatory validation synced with European trust services and connected to 31 NCA Registers and the EBA Register.
- Modified Customer Interface (UK/EU) Secure interface solution with TPP identification that conforms to Open Banking and GDPR regulations, designed for UK and EU banks requiring a modified customer interface for TPP access.
- Account Verification Service (CoP/VOP) Name-checking account verification service guaranteeing that personal and business customers are paying the intended recipient, reducing fraud and misdirected payments through IBAN/name matching for UK (Confirmation of Payee) and EU (Verification of Payee) compliance.
- VOP Service+ Solution designed to optimise service management and enhance conformance validation of VOP implementations, supporting PSPs through the EPC adherence process.
Quantifiable outcome
- 225+ banks and fintechs worldwide rely on Banfico solutions
- +3 more outcomes
Companies that use Banfico
Customer profileNamed customers5 records
Segments3 records
Ideal customer profiles2 records
Banfico technology and API
TechnologyTechnology focussed Yes
API detail
- Has API
- Yes
- API docs
- API detail
Core technology
AI maturity
App detail
Integration4 records
Feature6 records
Banfico partnerships and signals
Strategic signalPartnerships
Eight partnerships are on record, tiered core.
- European Payments Council (EPC)coreActive participation in VOP scheme development including rulebook change management, ART pilot testing, and submission of 7 change requests with 4 accepted into public consultation.
- TemenoscoreBanfico's Verification Of Payee solution is available on Temenos Exchange partner ecosystem, allowing banks to offer VOP as an overlay service on Temenos' core banking solution.
- CBIcoreStrategic partnership to expand global reach of Verification of Payee service. CBI, a fintech serving as industry utility with over 30 years of experience, develops digital infrastructures and services for financial institutions and payment service providers.
- InfoCert S.p.AcoreExclusive partnership to offer Open Banking/PSD2 Certificates from Banfico's OB Directory. InfoCert is the leading Certificate Authority at European level providing enhanced security solutions.
- adorsyscoreValue-added technical partnership for Open Banking. adorsys is a financial ecosystem integrator with more than 15 years' experience supporting banks, insurance companies and TPPs with digital transformation.
- Arion BankcoreArion Bank, one of Iceland's leading universal banking groups, chose the Banfico OB Directory Plus to support its Open Banking and PSD2 access-to-account compliance process.
- CIP (Brazil)coreCâmara Interbancária de Pagamentos partnered with Banfico to launch Open Banking platform in Brazil, providing robustness, security and full alignment with Brazil's regulatory requirements.
- Core Banking System ProviderscorePartnerships with major core banking system providers including Mambu, Finastra and Temenos for API compatibility and integration.
Scale indicators6 records
Recent moves8 records
Expansion highlights6 records
Banfico competitors and assessment
Company assessmentDirect peers
- TrueLayer: TrueLayer is a UK-based open banking API platform serving banks and fintechs across Europe with PSD2 connectivity and account verification services, directly competing with Banfico in the Open Banking compliance stack.
- Token.io: Token.io provides open banking payments and account-to-account infrastructure for European banks and PSPs, competing directly with Banfico's PSD2 access-to-account and VOP offerings.
- Yapily: Yapily is an open banking infrastructure provider offering PSD2 connectivity and account verification APIs to banks and fintechs in Europe, directly overlapping with Banfico's core compliance product set.
- Salt Edge: Salt Edge provides open banking API solutions and account verification services for banks, lenders, and fintechs globally, competing with Banfico in PSD2 connectivity, TPP validation, and account verification.
Broad incumbents
- Tink (Visa): Tink, owned by Visa, is one of Europe's largest open banking platforms offering PSD2 connectivity, account verification, and payment initiation — a broader incumbent with overlapping capabilities to Banfico's regulated compliance suite.
- Bottomline Technologies: Bottomline is an established fintech offering payment fraud prevention, Confirmation of Payee, and open banking solutions to banks and corporates, overlapping with Banfico's CoP/VOP and compliance offerings at the enterprise tier.
- Plaid: Plaid is a global open banking and account connectivity platform serving fintechs and banks with broader consumer/marketplace focus than Banfico, but with overlapping capabilities in account verification and API connectivity.
- Mastercard Track Directory / VOP: Mastercard operates its own VOP scheme and directory infrastructure under European mandates, positioning it as both a potential partner and competitor to Banfico's RVM-led VOP offering.
- Trustly: Trustly provides account-to-account payments and verification services across Europe and the US, with overlapping capability to Banfico's VOP and Open Banking compliance stack at the PSP/bank buyer level.
Regional players
- CBI (C\u00e2mara Interbanc\u00e1ria de Pagamentos): CBI is an Italian open banking industry utility and Banfico's strategic partner for VOP expansion; it operates competing Brazilian open banking infrastructure in partnership with Banfico, making it a partial peer in LATAM open banking rails.
Market position
Strengths5 records
Weaknesses4 records
Competitive moat5 records
Key highlights7 records
Customer concentration
Banfico social profiles
Digital presenceBanfico compliance and trust
Trust signalCompliance4 records
Banfico financial estimates
Financial estimateRevenue estimate
Valuation estimate
Banfico leadership team
Management profileNumber of profiles
Profiles2 records
Banfico subsidiaries and ownership
Company hierarchySubsidiaries2 records
Banfico funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Banfico 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 Banfico
What does Banfico do?
Banfico provides cloud-based plug-and-play SaaS solutions for Open Banking regulatory compliance and Verification of Payee (VOP/CoP) account verification. Its modular suite — including the Open Banking Dedicated API, OB Directory, Modified Customer Interface, and Account Verification Service — helps banks and fintechs comply with PSD2/PSD3, SAMA Open Banking, and EPC VOP schemes, validate TPP certificates, and prevent misdirected payments and fraud.
Is Banfico a public or private company?
Banfico is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Banfico founded?
Banfico was founded in 2017. It employs 51 to 100 people.
Where is Banfico based?
Banfico is headquartered in London, United Kingdom, in the Europe region.
How does Banfico make money?
Two revenue lines are on record. SaaS Subscription Services are the primary driver. The others are implementation and Support Services.
Who are Banfico's main competitors?
Direct peers on record are TrueLayer, Token.io, Yapily and Salt Edge. Broad incumbents are Tink (Visa), Bottomline Technologies, Plaid, Mastercard Track Directory / VOP and Trustly. CBI (C\u00e2mara Interbanc\u00e1ria de Pagamentos) is listed as a regional player.
Does Banfico have an API?
Yes. Banfico offers an enterprise API platform compliant with global Open Banking regulatory standards for PSD2 compliance. The Open Banking Dedicated API provides end-to-end delivery for access-to-account services, TPP regulatory validation, and account verification. Developers can access the platform through Swagger pages for end-to-end testing, with a customisable developer portal provided.
What industry is Banfico in?
Banfico's product category is Open Banking Compliance Software (RegTech). Its primary akta.pro industry code is FSAGACAB, Account Verification & Ownership (AVS/AOV, micro-deposits, auth), with a secondary code of FSAGACAF, Identity & Authentication for Open Banking (SCA support, token exchange). Its NAICS code is 52232.