Strands, a Spain-based fintech that focuses on superior digital banking options, introduced on Tuesday it has been granted an AISP license because it prepares to develop its PSD2 providers providing. In response to Strands, an AISP is a fee establishment which, below the revised Fee Providers Directive (PSD2), can entry fee accounts of various banks (and different fee service suppliers), below the consent of the account holder.
The license comes just some months after Strands’ acquisition by credit score bureau and enterprise data firm CRIF. In 2018, CRIF turned the primary credit score bureau to be registered as AISP in 21 European international locations. Though Strands stays an unbiased firm throughout the Italian group, the deal permits it to behave as a registered AISP. Whereas sharing extra particulars concerning the license, Strands’ CEO, Erik Brieva, acknowledged:
“Going to the market as an AISP is a natural step in our growth strategy and it’s yet another example of the potential of our partnership with CRIF. Thanks to our advanced account aggregation capabilities and AI expertise, Strands is in a strong position to help financial institutions all over the world to seize the opportunities generated by Open Banking, take their customers relations to the next level and, ultimately, increase their sales and revenue.”
Strands describes itself as a fintech pioneer with the award-winning resolution for Private Monetary Administration (PFM). Its Finance Suite features a portfolio of merchandise that share a typical basis primarily based on Huge Information Processing, Synthetic Intelligence, Machine Studying, Open API and best-in-class Buyer Expertise.