LUXHUB, the Open Banking expert has successfully obtained its AISP (Account Information Service Provider) and PISP (Payment Initiation Service Provider) licenses – a first in Luxembourg’s Open Banking ecosystem. These new licences put the company in a commanding position to reach a wider audience in the Luxembourg and Europe.
Photo: from left to right, Claude Meurisse, COO, LUXHUB – Claude Marx, Director General, CSSF – Jacques Pütz, CEO, LUXHUB – and Jean Hilger, Chairman, LUXHUB / Image Credits: LUXHUB
Founded in 2018, LUXHUB is the product of the bold vision of four Luxembourgish banks – Banque Raiffeisen, BCEE, BGL Paribas and POST Luxembourg. By combining their expertise, the four banks aimed to become the leading digital transformation enabler for the financial services industry.
With its mutualized solution for PSD2 compliance, its API Gateway, proprietary product and API Marketplace, it did not take long for LUXHUB to gain the trust of the Luxembourgish banking ecosystem and beyond.
After the success of LUXHUB One, which provides client banks with access to customer account data from multiple financial institutions via a single API, LUXHUB’s new licences will allow them to take their work to the next level.
Their new AISP/PISP status will help them develop new (B2C, B2B and B2B2C) solutions for private and public organizations. This means that they will be the first Open Banking solution in Luxembourg which is able to work outside of the financial services industry and its regulated scope.
“These new licenses represent a major milestone for LUXHUB, as we become Luxembourg’s first and only full-scope Open Banking enabler,” says Jacques Pütz, CEO of 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.”
Simple And Secure
Everyone stands to benefit. By getting access to bank account data in real-time, businesses will be able to provide a range of value-added services such as treasury management, account reconciliation and process automation. The new solution will also improve user acceptance and conversion by enabling anyone with a bank account to directly initiate a payment in a secure and simple way.
On a more general level, this new status will also allow LUXHUB to accelerate the digitization of Luxembourg’s financial services industry and take the next steps towards embedded finance in Europe.
“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,” adds Jacques Pütz.
A Dynamic Brand Identity
To celebrate and accompany this new era of Open Banking in Luxembourg, LUXHUB also unveils its new brand identity. The four squares representing the founding banks are interlinked to point in the new direction that banks are moving – one that celebrates innovation and collaboration at the highest level.
“Through our new services, and thanks to our modern brand identity, we will be able to reach a much broader audience: the path to Open Finance becomes clearer, as together, we shape the future of finance,” explains Jacques Pütz.
