We're Sweden's First Authorised AISP Fintech Under PSD2

Posted by Simon Edström - CEO on 9/25/18 10:03 AM
Simon Edström - CEO
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We're proud to announce we’ve been approved to operate as an Account Information Service Provider (AISP) in Sweden, by the Swedish FSA (Finansinspektionen). We’re the first authorised AISP FinTech in the country, allowing us to build and provide better and even more relevant services.

The Swedish FSA's approval means we can continue developing products that support consumers to prove their true financial capacity. We see it as an important step in helping the financing industry to digitise its processes, as well as a significant step for the future of our company.

Instantor is Sweden's First Authorised AISP Fintech Under PSD2Image Credit: Hanson Lu

Open Banking Supports Instantor’s Innovations

With the Swedish FSA’s approval, we now have the legal prerequisites to continue building our service offerings as part of PSD2’s Open Banking framework. Our products translate into a faster, fairer and more efficient application processes within financial services. Our customers get real-time data and deep market insights that empower them to better serve the modern consumer by digitalising legacy processes.

Subject to the Swedish FSA´s supervision, an AISP requires registration through an application in accordance with the Payment Services Act which implements the EU directive PSD2 in Sweden.

“Since we started to work on our application this spring, it has been an intense process. We had a good dialogue with the Swedish FSA, and I think we had an advantage of that we early on invested in and have taken compliance very seriously. Gaining the validation and approval of the Swedish FSA for our operations is a quality stamp and an acknowledgement of that work.” - Oskar Löthberg, Head of Legal, Instantor

Always Moving Forward

With over 300 bank integrations in 25 markets, we have the potential to reach half a billion people in Europe, Latin America, and Asia. Utilising bank data, Instantor digitalises financing processes to change how financial institutions assess credit decisions.

Discover how our solutions can accelerate your financial institution’s acceptance rates while reducing risk and application abandonment.

Instantor is Sweden's First Authorised AISP Fintech Under PSD2

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Topics: Startups, product, Compliance, PSD2, Instantor news, Tech