PSD2 AISP – Account Information Service Provider

In order for a financial service provider to be fully authorised through PSD2 to use the Open Banking APIs they have to be registered as either one of or both of the following.  

AISP – Stands for Account Information Service Provider 

PISP – Stands for Payment Initiation Service Provider

What can AISP’s do?

Being an authorised AISP means that business can ask for permission to connect to a bank account and use that bank account information to provide a service.

Businesses who are AISP’s, are authorised to ‘read-only’ access of bank account information. Basically, they can look but can’t touch, which means they cannot move a customers money.

Services and tools that are associated with AISPs consist of; price comparison, money management tools, quicker and more accurate access to financial products and speeding up manual processes such as applying for a mortgage, a loan and so on.

Accounts reference application

TPP Account information reference application

The web reference application shows how to build an end-to-end Account information reference application with multiple types of services, combining a list of ASPSP consents with bank account list for each consent, account balance and transactions to construct a complete solution.

Scenario

The context of this sample is a web-based bank account management application. Logical parts of the management back-end are represented by individual services, allowing loose coupling of functionality and independently-upgradeable components:

• Add bank accounts from a list of available ASPSP
• Account balance
• Account transactions

Using bankIO’s Link API aggregation, the frontend maintains a single connection to the aggregator, rather than relying on implementing an API integration for each ASPSP. This allows the frontend to scale independently using bankIO’s Link API aggregation to meet its unique requirements for data capacity and throughput.