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Token.io description
Token.io provides the tools for businesses to connect to banks and access customer financial data. This allows companies to offer streamlined services like "Pay by Bank" options, improve direct debit setups, and verify account ownership. Token.io boasts broad coverage, connecting to a vast network of bank accounts across many countries, all through a single API. This makes it easier for companies to build financial services without needing complex integrations with multiple banks.
Who is Token.io best for
Token.io is ideal for small businesses needing a single API to connect to various banks and access customer financial data. This simplifies offering "Pay by Bank" options, improving direct debit setups, and verifying account ownership. It boasts broad coverage, connecting to a vast network of bank accounts across many countries.
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Best for small businesses seeking streamlined bank connections and "Pay by Bank" integrations.
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Not industry-specific, but highly relevant for fintech companies needing open banking solutions.
Token.io features
| Supported Token.io connects to banks and aggregates banking data via its open banking API. |
| Supported Token.io verifies account ownership to prevent fraud and streamline user onboarding. |
| Supported Token.io adheres to open banking regulations and standards, including PSD2. |
| Supported Token.io supports various payment types via its A2A payment infrastructure. |
Token.io alternatives
FlinksBetter fit for Canadian financial institutions. Has broader API documentation and developer support. Shows faster website traffic growth but slower employee growth. More user reviews available with both positive and negative feedback.Read more
SyncteraBetter for companies looking to launch their own financial products. Has slightly faster website traffic growth, but slower employee growth. Lower ratings on G2 and Glassdoor.Read more
STARLINGBetter for individuals or small to medium businesses in the UK needing a digital bank account. Starling is growing faster than Token.io. It offers budgeting tools, spending insights, and 24/7 support, unlike Token.io. However, note the mixed customer reviews on inconsistent app experience and customer service. It is a Token.io alternative and competitor.Read more
MXBetter fit for larger companies and financial institutions seeking to improve their customers' mobile banking experience. Has significantly more momentum in terms of website traffic and employee growth. A strong Token.io competitor and alternative.Read more
DIRO Bank Account VerificationWider global coverage (195 countries). Growing much faster than Token.io. Also offers address and identity verification.Read more
BankinglyBetter for financial institutions needing digital banking solutions. Caters to the Finance, Banking & Insurance industry. Has a user-friendly interface and offers features like loan applications and digital onboarding. However, it has slower momentum and some users report limited customization and slow support. Pricier.Read more
Token.io FAQ
What is Token.io and what does Token.io do?
Token.io is a platform that connects businesses to banks through a single API. It enables "Pay by Bank" functionality, streamlines direct debit setups, and verifies account ownership, simplifying financial service integration across a wide network of banks in various countries.
How does Token.io integrate with other tools?
Token.io integrates with banks through a single API, providing access to customer financial data and enabling "Pay by Bank" functionality. It streamlines direct debit setups, verifies account ownership, and adheres to open banking regulations like PSD2.
What the main competitors of Token.io?
Alternatives to Token.io include Flinks, Synctera, Starling, MX, DIRO, and Bankingly. These competitors offer similar services such as open banking APIs, bank account verification, and payment processing. They cater to various financial institutions and businesses needing streamlined financial data integration.
Is Token.io legit?
Token.io appears legitimate, offering secure bank connections and open banking compliance. It simplifies financial service integration through a single API and boasts broad bank network coverage. Reviews on G2 and Glassdoor are generally positive.
How much does Token.io cost?
Token.io does not publicly disclose its pricing information. Contact their sales team to obtain a customized quote based on your specific business needs and desired product features.
Is Token.io customer service good?
There is no information available about Token.io's customer service.
Reviewed by
Michal has worked at startups for many years and writes about topics relating to software selection and IT management. As a former consultant for Bain, a business advisory company, he also knows how to understand needs of any business and find solutions to its problems.
Tymon is a seasoned CTO who loves finding the perfect tools for any task. He recently headed up the tech department at Batmaid, a well-known Swiss company, where he managed about 60 software purchases, including CX, HR, Payroll, Marketing automation and various developer tools.