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TrueLayer

🌎 truelayer.com

TrueLayer is Europe’s leading open banking payments network, providing a platform for smarter, faster, and safer online payments by combining real-time bank payments with financial and identity data. They cater to businesses of all sizes, enabling them to onboard users, accept payments, and make payouts at scale across the UK and Europe.

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Updates as of Oct 02, 2024

• CCH iFirm Validate uses TrueLayer's Open Banking platform to enable auditors to conduct bank confirmations and account verifications.
• TrueLayer reported a doubling of payment volume to £21bn in 2023, reaching an annualised £29bn from 120 million transactions, but despite revenue tripling to £12.43m, the company remains far from profitability.
• TrueLayer reported a pre-tax £55.6 million loss for 2023 but saw revenue increase by 200% and gross profit rise from £2.96 million to £7.78 million.
• TrueLayer, a payments platform backed by Stripe, is increasing its losses according to the latest accounts reports.
• Jack Wilson, VP Policy & Research at TrueLayer, discussed the impact of new APP fraud rules on A2A payments at Future Fintech.

• Leela Shanson, Head of Corporate Communications at TrueLayer, announced her departure from the company on September 20.

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