Since 2018, iBanFirst has held AISP (Account Information Service Provider) and PISP (Payment Initiation Service Provider) licenses, allowing users to access a consolidated view of their bank accounts.
How to Synchronize Your Bank Accounts:
1. Access Synchronization:
Go to the Accounts tab.
Select External Accounts.
Choose Synchronize an External Account.
2. Synchronization Process:
Choose your country, your bank, and the type of account.
Scan the QR code with your phone’s camera, then click Continue on a computer.
Enter your online banking login details. This information is encrypted and secure.
After authentication, select the bank accounts you want to synchronize.
You will remain connected for a period of 180 days.
3. Viewing Synchronized Accounts:
Synchronized bank accounts and their balances are accessible from the External Accounts screen in the Accounts section.
Click on an account to view the corresponding transactions.
Bank account balances are automatically updated every 24 hours or every 2 hours if a manual action is performed.
4. Disconnecting a Bank Account:
By default, you can access information from your other banks for 180 days without needing to reconnect.
To disconnect an account:
Go to the Accounts tab.
Select External Accounts.
Choose Manage My Accounts.
Select the bank account you want to disconnect and click Disconnect a Bank Account.
To see the list of banks available for bank account synchronization with iBanFirst, [click here].
Data Security:
When you synchronize your bank accounts, we do not store or have access to your personal banking data. All banking login information is processed securely and in accordance with data protection standards.
Learn More About AISP and PISP Licenses:
The European PSD2 regulation (Payment Services Directive No. 2) requires banks to allow third parties access to banking data with customer consent. AISPs provide account information services (read-only), while PISPs can initiate payments on behalf of the customer.
Bank Coverage for iBanFirst Through Powens for AIS Services
iBanFirst collaborates with Powens to offer extensive bank coverage for its Account Information Services (AIS). Powens, a provider of financial data aggregation solutions, ensures secure and comprehensive access to various banks. If you would like to know if your bank is on the list of available banks or if you wish to add it, please contact us at: csm@ibanfirst.com.