Griffin vs Modulr
Griffin
griffin.com
Modulr
modulrfinance.comSide by side
| Figure | Griffin | Modulr |
|---|---|---|
| Price from | £100/mo | £16.25/mo |
| Free plan | — | — |
| Free trial | — | — |
| Open source | — | — |
| Web | Yes | Yes |
| iOS | — | Yes |
| Android | — | Yes |
| API | Yes | Yes |
| Plans published | 4 | 12 |
| Spec score · Banking-as-a-Service Platforms | 7.8 (#11) | 8.5 (#4) |
| Founded | 2017 | 2016 |
| Headquarters | London, United Kingdom | London, United Kingdom |
| Payments | Payment features include Faster Payments, instant book transfers between Griffin accounts, payment webhooks, and Confirmation of Payee. | The platform supports instant GBP and EUR pay-ins and pay-outs, CHAPS, Bacs, SEPA and SWIFT payment services. |
| Regulation | Griffin Bank is authorised by the Prudential Regulation Authority and regulated by the FCA and PRA. | Modulr says it is licensed as an electronic money institution by the FCA in the UK and DNB in the Netherlands. |
| Security | Griffin’s security standards page states that data is encrypted at rest and in transit and that system access is monitored and restricted by least privilege. | Modulr says its cloud-first platform is designed for scale and security and displays ISO, BSI, Cyber Essentials and PCI marks on its site. |
| Support | Griffin lists [email protected] and a developer Slack community as support and community channels. | The site provides customer support, fraud support and a service status page. |
| What it does | Griffin provides banking-as-a-service infrastructure that companies can use to embed bank accounts, payments, and other financial products through APIs. | Modulr automates payroll, supplier payments, collections and other business money flows through portals and APIs. |
Plans
Griffin
- Business bank accounts£100 a month
- Platform banking monthly package£10,000 a month
- Platform banking onboarding£15,000, paid once
- Platform banking EnterprisePriced on request
Modulr
- Payroll Payments Bronze£16.25 a month
- Accounts Payable and Spend Management Bronze£20 a month
- Bronze£30 a month
- Bundle Bronze£30 a month
- Payroll Payments Silver£67.20 a month
- Accounts Payable and Spend Management Silver£75 a month
- Bundle Silver£110 a month
- Silver£110 a month
- Payroll Payments Platinum£300 a month
- Accounts Payable and Spend Management Platinum£320 a month
In their own words
Griffin
Griffin provides banking-as-a-service infrastructure for companies embedding bank accounts, payments, and other financial products through APIs. It operates its own core banking platform and banking license. Business accounts for fintechs and venture-backed startups can be managed online or by API, while embedded savings and bank accounts support customer funds and client money. Payment features include Faster Payments, instant transfers between Griffin accounts, payment webhooks, and Confirmation of Payee. Verify automates KYC and KYB checks and provides onboarding workflows. The REST API uses JSON and includes a free sandbox without fees or an NDA. Griffin also works with tell.money on open-banking integrations. Griffin Bank is authorised by the Prudential Regulation Authority and regulated by the FCA and PRA. Security documentation cites encryption at rest and in transit, monitored access, and least privilege. Business banking starts at £100 per month; platform packages are £10,000 per month, with onboarding from £15,000 one-off.
Modulr
Modulr provides a platform for automating money moving into and out of a business. Its listed products cover payroll payments, accounts payable, spend management and collections. Accounts are available in GBP, EUR and nine other currencies, with local IBANs in GB, NL, ES, FR and IE. The platform supports instant GBP and EUR pay-ins and pay-outs, CHAPS, Bacs, SEPA and SWIFT. Businesses can issue virtual and physical Visa and Mastercard cards, with Apple Pay and Google Pay support; controls include spend limits, authorisation windows and merchant category code settings. Listed integrations include BrightPay, Sage, Xero, QuickBooks, Workforce and Conferma, while Sage Intacct is marked as coming soon. Developers have API documentation, guides and sandbox access. Modulr says it is licensed as an electronic money institution by the FCA in the UK and DNB in the Netherlands. It also states that it is not a bank and that customer funds are safeguarded rather than covered by FSCS. Paid plans are listed at £30 a month for Bronze, £110 a month for Silver and £500 a month for Platinum. The service is available on Android, iOS, web and API.