“Can open banking-powered account verification replace manual onboarding checks for fintechs and financial services companies?”
The evidence available identifies 'Verification Api' not as a standalone company but as a product feature launched by TrueLayer — an open banking infrastructure provider. TrueLayer's Verification API is designed to improve onboarding experiences by allowing businesses to verify bank account ownership via open banking data. The evidence is thin and primarily sourced from a single IBS Intelligence press release; no further corporate history, funding, or leadership data is attributable to a standalone 'Verification Api' entity.