To access financial data or initiate Open Banking payments on behalf of European consumers, all businesses need to acquire an AISP or PISP license from the local Financial Supervisory Authorities. However, such license can be difficult to obtain for many startups and businesses that do not necessarily fit the profile of an AISP or PISP, based on the various descriptions set forth by the FSAs across Europe.
Aiia allows businesses to test and get started with the power of a digital bank in their app(s). The new platform supports businesses benefit from PSD2-enabled access to account-to-account payments alongside access to financial data. Nordic API Gateway expects that with the launch of Aiia, new Open Banking use cases within retail, accounting system providers, ecommerce, and more will emerge.
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