The first Account Information Service Provider registered by the Central Bank of Hungary
What is Aggreg8's role?
Aggreg8 is the first account information service provider (AISP) supervised by the Central Bank of Hungary.
Aggreg8 operates according to the strongest security requirements in line with the prevailing regulation set by the central bank (MNB). Furthermore, Aggreg8’s operation is covered with a professional indemnity insurance of EUR 52,500 as per EBA’s regulation.
Account information services
The online service – available via aggreg8’s website – enables the Users to download their bank account information and present that in a single dashboard, providing an aggregated view of the User’s financial situation.
Utility bill aggregation services
Apart from offering bank account information services, Aggreg8 is also capable of providing utility bill aggregation. This service shall soon be launched to our Users.
Information-sharing services
Our Users can share the downloaded bank account information – via an explicit consent – with Aggreg8’s contracted business partners. This consent can be managed, renewed, revoked by the User anytime. The information-sharing service is not pre-condition for using the account information services.
What is PSD2?
PSD2 is Payment Services Directive of the European Union. It aims to accelerate the development of digital financial services and to ease the market entry of new players into the financial markets. You can ready more about PSD2 on FintechZone.
New services
PSD2 opens up new opportunities for developing new, secure and innovative financial services. These could include new products snd services based on account information aggregation (AIS), new electronic payment solutions (linked to current account)) (PIS) or new card-based payment solutions (CIS).
New players
PSD2 opens up the financial services market for new players, like Account Information Service Providers (AISP), Payment InitiationService Providers (PISP) and Card-Based Payment Instrument Issuers (CISP).
New opportunities
PSD2 creates new opportunities for authorized third party players – AISP,PISP, CISP, altogether TPPs – to access bank account information via API-interfaces. These TPPs shall offer innovative new financial services to both retail and business customers.
Use cases
Multibank PFM
All bank accounts on one screen, all banking functions in one place – this is what multibank personal finance management (PFM) offers in a nutshell.
Credit Scoring
Paperless, end-to-end online loan origination (e.g. personal loans, consumer credit or SME-financing). Fast administration, reliable account information collected directly from the customer's bank account.
Accounting Software
Keeping a close eye on cashflow and invoices is imperative for small businesses. Luckily, they are now offered digital aggregation services to help manage their workload.
Utility Bill Payments
Account aggregation can work wonders when it comes to tracking and paying recurring electricity, gas, water or internet bills.
Subscription Management
Managing subscriptions for mobile, internet or video streaming services, utilities or insurance can be a daunting task.
Aggreg8 in the press
Recognition
CESA Fintech Startup of the year 2018
Grand prize of FintechShow 2018
Member of Microsoft Startup Program
