The revised Payment Services Directive 2 (PSD2) created the right environment to allow two kinds of service providers. Open banking API is only permitted for authorized service providers. Open banking API is only available to authorized service providers. It is also possible to categorize both AISP or PISP. What is AISP? Is it useful? You can guess by its name, that AISP lets you compare and read personal financial information from different financial institutions and platforms. While it provides a snapshot of account information, AISP does not allow for transactions or other actions. Main differences between PISP. The bank, or financial institution has given permission for the service provider to perform any transaction or undertake other actions. The feature can be used for many purposes, including payments management or saving and loans. Because each service provider has different uses of these technologies, it is difficult to compare PISP or AISP. There are many applications. AISP platforms have a strong point: analytics tools, the ability to compare different services and find the best one for you. Companies may choose to share account information via AISP for many reasons. It all depends on the purpose of the account and any benefits that it could provide to the user. Your indicators can be compared with large data. Some platforms offer useful insight through artificial intelligence systems. Are my personal details available to anyone? What can I do to ensure that my private information is secure? There is no need to be concerned about this. Only you have the right to access and analyze your information. To use the AISP service you must first establish a connection and confirm authentication. AISP is regulated by who? It is based upon PSD2, as mentioned above. Every information provider must meet the requirements to be authorized. While details vary depending on where you live and what the law is in that country, the general rule of thumb applies worldwide. AISP is the best platform to help you manage existing accounts and choose from a variety of services. PSD2 created a new opportunity for users and allowed them to better manage company or personal funds.
What exactly is AISP?
