Fintech Fizen obtains AISP licenses in Poland

Monday 9 May 2022 14:40 CET | News

Fintech Fizen has obtained an entry in the AISP register from the Polish Financial Supervision Authority (KNF), according to Fintek

Thus, the company will be able to provide services in the field of Open Banking. Access to account information (AIS) is one of the two solutions introduced by the PSD2 directive – next to payment initiation (PIS). On the Polish market, such services are developed primarily by banks. It regards bank account aggregators, i.e. the ability to view the balance from other banks, or the option of making a transfer from bank X in the bank Y application.

Currently, there are 13 entities in the AISP register from the POLISH FINANCIAL SUPERVISION Authority. In addition to Fizen, these are such companies as Ramp Network, Banqware, Kontomatik, Comarch Finance Connect, ING Usługi dla Biznesu, Easy Check, inFakt, or FeedAI. 

Obtaining such authorisation only allows the provision of the Account Information Service (AIS). In order to offer payment initiation (PIS), it is necessary to obtain separate consent from the supervisor.

Fizen is a fintech Polish that provides an API that allows business customers to access banking data. This is especially useful for user verification processes such as KYC or AML.

Fizen currently operates in Poland, the Czech Republic, and Slovakia. It is also preparing to start in Romania. The goal for the coming months is also to obtain a permit to provide the second service in the field of Open Banking – i.e. the payment initiation service. The company is also in the process of finalising a seed round with a Polish investment fund, at which Fizen's valuation is PLN 11 million.

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Keywords: AISP, Open Banking, data aggregation, banking license
Categories: Banking & Fintech
Companies: Fizen, KNF
Countries: Poland
This article is part of category

Banking & Fintech




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