PSD2 is the updated EU payment services directive and allows institutions regulated by a Central Bank of a European Member State to act as Account Information Service Providers (AISPs). AISPs can connect directly into European banks and financial institutions and securely access individuals’ transactional data through APIs. PSD2 data can only be accessed with the account holder’s consent. Verge.Capital is an AISP that provides an online interface that requests individual’s consent and enables connecting information from multiple financial institutions in one single interface. Verge.Capital consolidates the data retrieved through PSD2 into a usable format for individuals, lenders, brokers, and banks. No one can access PSD2 data without being regulated as an AISP or without collaborating directly with an AISP. AISP companies, like Verge.Capital, get read-only access to your information.
How does Verge.Capital work?