ibanXS, an open banking platform, has received a PSD2 licence from De Nederlandsche Bank, the Dutch central bank.
With the licence, ibanXS has become a licenced account information and payment initiation service provider.
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Established in 2019, ibanXS is a fully operational pan-European PSD2 open banking platform that is connected to more than 1500 European banks across 22 countries.
Through the platform, licensed and now also non-licensed, companies can help their customers access their bank accounts to retrieve bank data (AISP) and begin payments (PISP), using unified ibanXS API.
The Revised Payment Services Directive (PSD2) is an EU Directive to regulate payment services across the European Union and European Economic Area.
The introduction of PSD2 eases the entry of new providers of payment and account information services and will act as an online third party between the consumer and the bank. These third parties could be other banks or fintech companies. All such providers must have a PSD2 licence.
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By GlobalDataibanXS CEO and co-founder Hans Vermeijs said: “I am so very proud of the entire team. In very short time, we realised a mature platform, a vast reach of connected banks, and now the official PSD2 Open Banking licence.
“With these three ingredients ibanXS is the ideal partner for every company that wants to offer his clients access to banks. “
Under the supervision of the Dutch Central Bank, ibanXS claims secured processing of its clients’ data.
ibanXS operates in the PSD2/Open Banking space, which is said to be collaborative. This is useful for payment service providers, who intend to focus on their core-activity, instead of applying for an additional licence and for accounting software companies, who do not want to use the services of their competitor.
ibanXS chief commercial officer and co-founder Edy Bruinooge said: “Next to being “Technical Provider” for licensed companies, such as Online Payment Platform, ibanXS can provide services to non-licensed companies, with our “License-as-a-Service” model.”
