London-based Open Banking fintech Yavrio is now connected with the five largest US banks and, in addition, has introduced “advanced” embedded payments, following a seed funding round earlier this year.
Yavrio is now connected to corporate accounts at Wells Fargo, JP Morgan, Citibank, Bank of America and U.S. Bank, as part of its international expansion plans and to capitalise on the growth of Open Banking in the US.
The fintech has also introduced embedded ACH, RTP, FedNow and Wire payments across more than 9,600 banks for customers in the US, giving businesses the ability to securely send funds from their payment journal to vendors via their bank account.
In a press statement, Yavrio said that its advanced integration with corporate banking systems connects businesses to the core of financial operations, “unlocking” real-time banking data, access to essential banking infrastructure and multiple payment rails.
Its integration of real-time financial data and payments directly into enterprise resource planning (ERP) systems aims to eliminate the inefficiencies of manual banking and error-prone CSV imports.
According to an industry report published by Markets and Data, the US Open Banking market is projected to grow from $7.08 billion in 2023 to reach $35.79 billion by 2031.
In January, Yavrio raised $2.4 million in seed funding, led by Fuel Ventures with a $1.9 million investment.
John Lewis, chief executive officer of Yavrio, said: “After a slow start, Open Banking is gaining real momentum in the US, and we are delighted to see Yavrio at the forefront, delivering powerful solutions that make life easier, more efficient, and more secure for finance teams and the real economy.”
Lewis called the introduction of embedded payments “a game-changer” for businesses, given that it enables them to send cross-border and domestic payments securely from their payment journal, “ready for approvers to authorise as normal within their bank portal, enhancing payment efficiency and accuracy”.
“Seamless banking connectivity is at the heart of what we do and connecting to these five key banking institutions in the US marks a significant step forward for our business,” he added.
“It also demonstrates our commitment to offer businesses integrated banking solutions no matter where they are located or who they bank with, redefining financial automation for firms globally.”
Further reading: Open Banking in the US – a new era of consumer-centric innovations?
Open Banking Expo USA is taking place on June 26, 2025 in New York. Click here to find out more about speaking, exhibiting and to register to attend.
