Available credit data APIs in Germany

3 min

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If you're after credit data APIs in Germany, here are your options:

 

Credit bureau

SCHUFA is Germany’s largest credit rating agency. It supplies on average 450,000 credit reports every day to various financial firms and individuals, and is the backbone of the crediting industry in the country (Gellert, 2019). The organisation shares information on private individuals and businesses and provides their own ratings for each, known as the SCHUFA score. Additionally, they offer a SCHUFA Identity Check service, which scans identity information against their existing database to verify customer information. Each German private resident is entitled to one free SCHUFA report for free, however any additional reports and reports for businesses are paid for.

Experian is one of the leading credit bureaus with branches worldwide, including Germany. Their API, Experian Connect, facilitates sharing of credit data. Credit scores can be shared to evaluate creditworthiness and credit reports can be created. These include inquiries, public records, and transactional history to establish a detailed customer profile. Pricing for these services is not made public.

 

Open banking

Salt Edge is equipped with a PSD2 compliant Account Information API. It allows financial institutions to connect with end-customers’ bank accounts and obtain transaction and payment history. The data can be accessed in real-time and insights are provided as part of the paid package. The package can cost over $500 per month to use.

Yapily has been live in Germany since 2020 with their open banking API. It connects with a range of German banks and adheres to NextGenPSD2 Berlin Group API standards (Danks, 2020). The API is available for local businesses and financial technology companies, helping them to create more services for their clients and elevate their customer experience. Pricing for this service is publicly unavailable.

FinTecSystems is a major finance firm in Germany focusing on open banking infrastructure. They were acquired by Tink in 2021 and their services will be henceforth combined in Germany, Austria and Switzerland (Lindquist, 2021). They provide a range of products including data sharing, insights and risk decisioning. There is no public pricing available.

TrueLayer launched their data API in Germany in 2019 (Peyton, 2019). Their API is aimed at data sharing, personal finance management, and identity verification. They allow for integrations with major German banks. The service is pay-per-use with specific pricing unavailable publicly.

Nordigen facilitates the process of accessing private and business bank account information across European countries. We are a licensed AISP, connecting to official bank APIs across Europe. Nordigen uses only regulated PSD2 integrations and our API allows continuous 90-day access to transaction histories. Our open banking data API is completely free with unlimited use - additional insights, such as credit scores can be accessed for €0.50 per user.

 

Onboarding & automation platform

Fintus Suite is a digital solution for automating business processes in the finance sector. As part of their services, they offer an API integration with SCHUFA, Germany’s leading credit rating institution. SCHUFA supplies on average 450,000 credit reports every day to various financial firms and individuals, and is the backbone of the crediting industry (Gellert, 2019). Fintus Suite helps automate the onboarding process for various clients by utilising its integration with SCHUFA to access and share financial data in real-time. The firm does not provide public pricing information.

 

References

Danks, R. (2020, May 26). https://www.yapily.com/blog/the-yapily-platform-is-live-in-germany/

Experian. (n.d.). https://www.experian.de/

Fintus. (n.d.). https://www.fintus.de/en/

Gellert, N. (2019, May 23). SCHUFA information and score now integrated into fintus Suite. https://www.fintus.de/en/schufa-information-and-score-now-integrated-into-fintus-suite/

Lindquist, M. (2021, May 18). Tink acquires leading German open banking technology provider FinTecSystems. https://tink.com/press/tink-acquires-fintecsystems/

Peyton, A. (2019, January 8). TrueLayer launches data API in Germany. https://www.fintechfutures.com/2019/01/truelayer-launches-data-api-in-germany/

Salt Edge. (n.d.). https://www.saltedge.com/

 

 

 

 

 

 

 

 

 

 

 

 

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Article by

...Stephanie Kreeger
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