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APIs · head to head

Codat vs Enable Banking

Codat logo

Codat

APIs

One API for small business accounting, banking and commerce data

From
On request
Rated
-
Full reviewWebsite
Enable Banking logo

Enable Banking

APIs

European bank API aggregation with a free restricted production tier for your own accounts

From
Free
Rated
-
Full reviewWebsite

The short version

  • Only Enable Banking has a free tier, so it costs nothing to try first.
  • Each has a real cost: Codat the accounting platforms are metering developer access themselves, with Xero introducing tiered connection based developer pricing from 2 March 2026, so a cost you do not control has been inserted between you and the data and it scales with the number of customers you connect.; Enable Banking production pricing is quoted per connected account and call volume with no published rate card, so a free proof of concept gives you no idea of cost at scale.
  • They diverge on capability: Codat covers Normalised accounting API, Enable Banking covers European bank coverage.
  • Prices and features above were last checked on 1 September 2026.

Where they differ

Only the attributes on which Codat and Enable Banking actually diverge.

Attributes where Codat and Enable Banking differ
AttributeCodatEnable Banking
Starting priceOn requestFree
Pricing modelquotePer connected account per month
Free tierNoYes
PlatformsAPI, WebWeb, REST API

Identical on both: user rating (Not yet rated), category (APIs).

What each one covers

Drawn from each product's published feature list. An absence here means we hold no record of it - not that the product lacks it.

Only in Codat

  • Normalised accounting API
  • Banking and commerce data
  • Lending products
  • Write-back
  • Business verification
  • Supplier onboarding
  • Connection management
  • Data quality handling

Only in Enable Banking

  • European bank coverage
  • Free sandbox
  • Restricted production
  • TPP infrastructure as a service
  • Consent handling
  • Payment initiation

What people use each for

The jobs each tool is most often brought in to do.

Codat

  • A business lender that wants live ledger data for underwriting rather than a borrower emailing exported PDF accountsnot Enable Banking
  • A commercial bank monitoring covenant compliance across a portfolio of small business borrowers continuously rather than quarterlynot Enable Banking
  • A payment company verifying a merchant trading history before extending working capitalnot Enable Banking
  • A B2B platform writing bills and payments back into a customer accounting system so reconciliation happens automaticallynot Enable Banking

Enable Banking

  • A small fintech that needs to operate as an agent rather than wait a year for its own AISP authorisationnot Codat
  • An accounting software vendor pulling bank transactions across several European countriesnot Codat
  • A treasury tool building and testing a real integration before committing to a contractnot Codat
  • A lender verifying applicant income from bank data across the Nordics and the EUnot Codat

Where each one falls short

Documented limitations, not opinions. Every one is a constraint you would hit in normal use.

Codat

  • The accounting platforms are metering developer access themselves, with Xero introducing tiered connection based developer pricing from 2 March 2026, so a cost you do not control has been inserted between you and the data and it scales with the number of customers you connect.
  • Pricing is opaque and enterprise shaped for a product developers expect to evaluate technically first, so build decisions get made before anyone knows the unit economics.
  • Normalisation hides but does not remove the underlying differences between accounting systems, and edge cases in multi-currency, journals and tax handling surface as data quality problems that your team must reason about in each source system anyway.
  • Data quality depends on the small business keeping its books properly, so a lender using ledger data for underwriting inherits the bookkeeping standard of its worst borrower and needs its own validation layer regardless.
  • Connection breakage from expired tokens and platform API changes is an ongoing operational load, and a borrower whose connection lapses stops being monitored silently, which is the failure mode that matters most in a lending portfolio.

Enable Banking

  • Production pricing is quoted per connected account and call volume with no published rate card, so a free proof of concept gives you no idea of cost at scale.
  • Coverage is European, which rules it out as a single supplier for anyone needing UK plus North American bank data as well.
  • Operating as an agent under the Enable Banking licence means your regulatory permission depends on another company remaining authorised and willing to sponsor you.
  • Bank API quality varies widely across Europe, and outages or degraded endpoints at individual institutions surface as failures in your own product.
  • It is a small Finnish company selling into regulated financial services, so enterprise procurement and vendor resilience reviews are a recurring obstacle.

Pricing, plan by plan

Codat

On request
  • Codat Platform$undefined/year
    • Priced by connected companies, data types and products
    • Lending and verification products priced above core data access
    • Annual enterprise agreements

Enable Banking

Free
  • Sandbox and restricted productionFree
    • Mock and real bank sandbox access
    • Production access limited to accounts you link yourself
    • Full API surface for development and certification
  • Production$undefined/year
    • Quoted by connected accounts per month and call volume
    • Priced by number of institutions and markets in scope
    • Different rates under your own licence or as an agent

Which should you pick?

Choose Codat if

  • You need normalised accounting api.
  • You work on API, Web.
  • You also want banking and commerce data.
Codat review

Choose Enable Banking if

  • You need european bank coverage.
  • You want to start without paying.
  • You work on Web, REST API.
  • You also want free sandbox.
Enable Banking review

Questions people ask

Is Codat or Enable Banking better?
Neither clearly leads. Codat starts at On request and Enable Banking at Free, and user ratings are close enough to be indistinguishable. Choose on capability and platform support.
Which is cheaper, Codat or Enable Banking?
Enable Banking has a free tier; the other does not. Paid plans start at On request for Codat and Free for Enable Banking.
Does Codat or Enable Banking run on more platforms?
Codat runs on API, Web. Enable Banking runs on Web, REST API.
Can I use Enable Banking for free?
Yes. Enable Banking has a free tier, so you can try it without paying. Codat starts at On request.
What is Codat best used for?
Codat is most often used for a business lender that wants live ledger data for underwriting rather than a borrower emailing exported pdf accounts, a commercial bank monitoring covenant compliance across a portfolio of small business borrowers continuously rather than quarterly, a payment company verifying a merchant trading history before extending working capital, a b2b platform writing bills and payments back into a customer accounting system so reconciliation happens automatically. Of those, a business lender that wants live ledger data for underwriting rather than a borrower emailing exported pdf accounts and a commercial bank monitoring covenant compliance across a portfolio of small business borrowers continuously rather than quarterly are not what Enable Banking is typically brought in for.
What can Codat do that Enable Banking cannot?
Codat covers Normalised accounting API, Banking and commerce data, Lending products, Write-back. Enable Banking covers European bank coverage, Free sandbox, Restricted production, TPP infrastructure as a service.

Answered from the vendors’ own pages

Codat: What is changing with Xero in 2026?

Xero is introducing a tiered, usage based developer pricing model effective 2 March 2026, with tiers based on the number of customer connections an app holds. That is a new cost in the chain for anyone reading Xero data at scale, whether directly or through Codat.

Enable Banking: Is there really a free tier?

Yes, sandbox plus restricted production against accounts you link yourself. Commercial third-party access is quoted separately.

Codat: Can Codat write data back?

Yes. It supports pushing bills, payments and journal entries into accounting systems, not only reading from them.

Enable Banking: Do I need my own AISP licence?

No. Enable Banking offers third-party provider infrastructure as a service so you can operate as an agent under its authorisation.

Codat: Is pricing published?

No. It is quoted by connected companies, data types and products, and users consistently describe it as opaque.

Enable Banking: How is production priced?

By connected accounts per month and call volume, adjusted for markets in scope and whether you use your own licence.

Codat: Does it replace bank data aggregation?

Not entirely. It covers banking alongside accounting and commerce, but lenders commonly run it beside a bank aggregator for transaction level cash flow.

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