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iBanFirst obtains AISP & PISP approval and is once again shaking up the international payment market

Posted on 13.07.2018

iBanFirst obtains AISP & PISP

The iBanFirst platform is one of the first payment institutions to obtain PSD2 approvals for account information (AISP) and payment initiation (PISP).

 

Paris, July 13th, 2018 - iBanFirst, a platform specialised in multi-currency transactions for companies, has become one of the first payment institutions to be granted PSD2 approval for account information (AISP) and payment initiation (PISP) by the Belgian regulator.

The AISP and PISP approvals open the door to a new generation of financial services

Since the PSD1 came into force in 2009 and the PSD2 in 2018, the three traditional functions of banks (deposit, account visualization and payment infrastructure) can now be separated. This separation opens the door to innovation and accelerates the development of new products and services in the payment sector.

AISP and PISP aim to improve the customer experience by opening consumer banking data sharing in a secure way.

"At iBanFirst, securing data exchanges has always been a priority. Obtaining these approvals confirms this and now offers us a legislative framework and legal recognition to directly access certain banking information of our customers. By strengthening consumer rights, this opening promotes the development of our market and opens the door to new and ever more competitive services." said Pierre-Antoine Dusoulier, CEO and founder of iBanFirst.

 

With AISP, iBanFirst customers will find information related to all their bank accounts on our interface. PISP, on the other hand, allows iBanFirst to issue a payment order directly to a third-party bank account. A user of our platform will be able to make his payments online, in foreign currency, in a secure and autonomous way, just by logging into his iBanFirst account.

PSD2 iBanFirst before after AISP PISP

For example, an iBanFirst customer wishing to send $100,000 to his supplier will only give one instruction from his iBanFirst interface, and his customer path will be significantly improved.

Given the appetite of companies for multi-bank platforms and their need for "real-time" information, a significant change is initiated thanks to this measure.

About iBanFirst
Founded in 2013, iBanFirst empowers companies to make foreign exchange payments and transfers, using real-time FX rates. We offer a solution that’s cost-effective, secure, simple and fast. We recognise traditional banks provide a wide range of services for business, but specifically for FX services to companies, we are a genuine alternative to their complex, costly, slow service and hidden fees. Instead, we offer a platform whose technology is purpose-built for efficient ease of use by our clients, while also being fully transparent.

Licenced by the National Bank of Belgium , we are the only 100% online service to create multiple IBANs for 25 different currencies on behalf of companies. The best FX for companies, with iBanFirst better banking means better business.  

 

CONTACT
Sophie Hebert+33 (0)7 69 58 638 683
presse@ibanfirst.com