Nocashevents LUXHUB, Luxembourg’s open banking pioneer, granted AISP/PISP status. The company is coming to Banking 4.0

LUXHUB, Luxembourg’s open banking pioneer, granted AISP/PISP status. The company is coming to Banking 4.0

LUXHUB announced that it has successfully obtained both AISP (Account Information Service Provider) and PISP (Payment Initiation Service Provider) licenses – becoming Luxembourg’s first 360-degree Open Banking provider. The new licenses will enable the award-winning Fintech to extend Open Banking solutions to all actors in the economy, beyond the financial sector.

Founded in 2018, with the mission of providing banks with a mutualized solution for PSD2 compliance, LUXHUB has since emerged as a leading digital transformation enabler for the financial services industry. Through its API Gateway, proprietary products and API Marketplace, the fast-growing company has already gained the trust of a large proportion of Luxembourg’s banking ecosystem and beyond.

Building on the success of LUXHUB One, which provides client banks with access to, and the leveraging of, customer account data from multiple financial institutions via a single API, LUXHUB will now be able to utilize its newly obtained AISP/PISP status to develop new (B2C, B2B and B2B2C) solutions for private and public organizations – beyond the financial services industry and outside its regulated scope.

More generally, the addition of the licenses, granted by the CSSF (Commission de Surveillance du Secteur Financier), will enable LUXHUB to further catalyze the digitization of the financial services industry in Luxembourg, and throughout Europe, accelerating its evolution towards embedded finance.

“These new licenses represent a major milestone for LUXHUB, as we become Luxembourg’s first and only full-scope Open Banking enabler,” first comments Jacques Pütz, CEO, LUXHUB. Our new status, as an AISP and PISP, will ensure that we are able to open up our already trusted solutions to a much wider European audience – Fintechs, international corporations, SMEs and many others.”