What is an AISP?

An AISP provides details on transactions and balances, and accesses account information.

With a customer's consent, AISPs will provide account aggregation services across different banks within the EEA to a customer, offering a view of multiple accounts in a single place. This means customers can have access to a comprehensive, aggregated view of their payment accounts via a single portal.

Under PSD2, an AISP must:

  • Have an AISP licence in their home country, and get passporting rights to operate in other European host countries.
  • Provide services only based on the customer's explicit consent.
  • Ensure that the personalised security credentials of the customer are not accessible to other parties, and that, when they are transmitted by the AISP, that it is done through safe and efficient channels.
  • Identify itself at each session to the ASPSP (ie bank) of the customer and securely communicate with the ASPSP and the customer.
  • Access only the information from the designated payment accounts and associated payment transactions.
  • Not request sensitive payment data linked to the payment accounts.
  • Not use, access or store any data for purposes other than for performing the account information service explicitly requested by the customer, in accordance with data protection rules.

Enhanced AISPs can also support personal financial management using spending and revenue patterns to help reach an individual's objectives.

As an example, a customer holding accounts in different banks across different countries can use an AISP to get consolidated reports of these accounts. These reports can provide various charts, such as an analysis of their expenses and revenues.

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