- Voluntary industry commitment on service information for customers launched
- Partnership invests $20m into KuCoin to bring cryptocurrency to the masses
- New loan marketplace launches with actual APR comparison pledge
- Banks share assessment on emerging opportunities for digital transformation in cross-border payments
- BNY Mellon appointed depositary bank by NLB in Slovenia
- NatWest research reveals 62% of Brits use apps to save time and money
- There will always be an arms race in the payments space, says Entersekt expired
- RBS offers freeze for cards to reduce unnecessary cancellations expired
- TSB announces Debbie Crosbie as new CEO expired
- Basel Committee publishes more details on global systemically important banks expired
- One in three working Scots face savings shortfall, finds BoS expired
- Santander backs German credit scoring and personal finance app Bonify expired
17th August 2018
FreeAgent secures Open Banking registration from FCA
Cloud accounting software provider FreeAgent has received new credentials from the Financial Conduct Authority (FCA) enabling it to provide Open Banking services to freelancers, contractors, micro-business owners and their accountants.
The company is now registered as an official Account Information Services Provider (AISP) under the terms of PSD2 – the new EU-wide legislation designed to open up the banking and payments industry.
FreeAgent is among the first tranche of companies to achieve AISP status in the UK and will now be able to officially embark on its Open Banking strategy. The accreditation will allow FreeAgent to provide deeper banking integrations with its award-winning software, and enable users to more readily access their banking information in a secure and compliant way.
Kevin McCallum, Chief Commercial Officer (CCO) at FreeAgent, said: “We’re delighted to have achieved our FCA registration as an Account Information Services Provider. The FCA rightly sets the quality bar fairly high for any business to become an AISP. We have always taken our security and data responsibilities very seriously, and our AISP status confirms that our internal systems and processes meet the highest standards.
“The integrated and seamless flow of information between banks, accountants and business owners is an integral part of the FreeAgent experience in the future. We believe that Open Banking is going to fundamentally change the way that businesses, accountants, software providers and banks share data - giving people a more secure, transparent understanding of their finances than ever before. It will allow us to build new services and customer-focused offerings that would simply not have been possible previously.”