Do you want to get online accesss to bank account information and use that information to deliver better and more efficient service to your Customers?
Do you want to spare your Company efforts from dealing with regulatory duties which could easily take up several months of preparation and extensive documentation?
PSD2 opens up the banks’ data vault, hence new players can get access to this huge amount of information. At the same time, PSD2-related services are strictly regulated and new players are required to complete a registration/authorization process with the national financial authority.
The contractual model – approved by the central bank - and our RegComp service offers the right solution to your Company to be exempt from regulatory compliance on your own, while still taking the full advantage of PSD2.
The obligation arises as soon as you wish to offer your PSD2-related service; the registered financial institution status must be acquired before the service is launched. The registration process requires extensive know-how and regulatory experience; overall the process takes several months even with having a well-prepared team on board. If you wish to save your Company from having to build up compliance know-how and resources that have nothing to do with your core business, then the Aggreg8 RegComp service is for you!
Rules of PSD2 require that the opening of banking data will take place under strict rules and will provide access for third-party players approved by the financial authority.
The legal compliance is provided by Aggreg8’s RegComp service. This operational and contractual mechanism has been approved by the Central Bank of Hungary (MNB), hence fulfills the respective requirements related to the access, processing and handling of bank accoun data.