Asking customers to upload bank statements is slow and easy to fake. Open banking lets them share verified account data in seconds, with consent.
Codersarts open banking API integration connects your product to bank data and payment APIs, with consent flows, data normalization and secure storage.
What Is Open Banking Integration?
Open banking lets customers securely share bank account data, or start payments, with third-party apps through regulated APIs and consent. Integrations typically use providers such as Plaid in the US, TrueLayer or Tink in the UK and EU, and India's Account Aggregator framework through providers such as Setu, to link accounts, read balances and transactions, verify income and initiate bank payments.
Who This Is For
Lenders verifying income and affordability
Personal finance and budgeting apps
Accounting and expense tools
Wallets and payment apps funding from bank accounts
Wealth and investment platforms
What We Integrate
Account linking
Consent flows to connect bank accounts securely.
Balances and transactions
Normalized, categorized transaction data.
Income and affordability
Income detection and affordability checks for lending. See lending platforms.
Account verification
Confirming account ownership before payouts.
Bank payments
Pay-by-bank and payment initiation where available.
Consent management
Renewals, revocation and data retention.
Reliability
Webhooks, retries and refresh handling. See webhook fixes.
Open Banking Providers by Region
Region | Framework | Example providers |
|---|---|---|
United States | Provider-led APIs and data access rules | Plaid, MX, Finicity |
UK and EU | PSD2 and open banking standards | TrueLayer, Tink, Yapily |
India | Account Aggregator framework | Setu, Finvu, OneMoney |
Common Integration Problems We Fix
Problem | Usual cause | Fix |
|---|---|---|
Linked accounts stop syncing | Consent expiry not handled | |
Messy transaction data | No normalization | |
Sensitive data exposed | Weak storage controls | |
Slow dashboards | Unindexed queries |
How Much Does Open Banking Integration Cost?
Cost depends on providers, regions, data use and whether you need payments as well as data. Provider fees are separate.
Scope | Typical timeline | Typical cost |
|---|---|---|
Account linking and verification | 1 to 3 weeks | $3,000 to $10,000 |
Transactions, categorization and insights | 4 to 8 weeks | $12,000 to $35,000 |
Multi-region data and bank payments | 2 to 4 months | $35,000 to $80,000 |
What changes the cost: regions and providers, data features, categorization, payments, consent handling and storage requirements.
Ranges are typical for a global team. Your price is fixed after scoping, before any work starts.
Ways to Start Small
Starting point | Best for | From |
|---|---|---|
Fixing sync and refresh issues | $29 | |
A ranked bug list for an existing platform | $199 | |
Ongoing fixes with a fixed budget | $290 for 10 hours |
How We Work
Scope. Data, payments, regions and consent.
Choose providers. Coverage, cost and regulation.
Build. Linking, data sync and storage.
Normalize. Clean and categorize data.
Test. Sandboxes and real-bank testing.
Launch. Monitoring and consent renewals.
What You Receive
Working open banking integration
Consent and refresh handling
Normalized data
Secure storage
Documentation and code ownership
Example Engagement: Income Checks for a Lender
An illustrative example based on the pattern we see most often. Client details are kept confidential.
The situation: A consumer lender reviewed uploaded PDF bank statements by hand and saw edited documents.
What we did:
Integrated account aggregation for consented bank data
Built income and obligation detection rules
Kept statement upload as a fallback with review
The result: Most applicants shared bank data in seconds, review time dropped and fake statements stopped being a problem.
Mistakes to Avoid
Ignoring consent expiry
Storing more data than needed
No fallback when a bank isn't supported
Treating raw transactions as clean data
Why Codersarts
Payments, security, cloud and AI engineers in one team
Money movement designed for correctness, not just the happy path
Fixed-price tasks for small jobs, so you can start without a large contract
Plain-language documentation for partner and bank reviews
You own all code, data and accounts
Frequently Asked Questions
What is the Account Aggregator framework?
India's consent-based system for sharing financial data between regulated entities.
Plaid or TrueLayer?
Plaid is strong in the US; TrueLayer and Tink in the UK and EU. Coverage decides.
Can we initiate payments?
Yes, where payment initiation is available in your region.
How much does integration cost?
Account linking typically costs $3,000 to $10,000, plus provider fees.
Related Pages
Lending platform development: using bank data for decisions.
System integration: other integrations.
Fintech solutions: every fintech service in one place.
Use Verified Bank Data in Seconds
Tell us what bank data or payments you need, and we'll plan the integration.