LUXHUB granted AISP and PISP licenses
Ellie Duncan | News
23 Sep 2021
Strassen-based fintech LUXHUB has obtained both account information service provider (AISP) and payment initiation service provider (PISP) licenses to become Luxembourg’s first “360-degree” Open Banking provider.
LUXHUB said it will be able to use its newly-granted AISP/PISP status to develop new solutions for private and public organisations, beyond the financial services industry and outside its regulated scope, building on LUXHUB One, which provides client banks with access to and use of customer account data from multiple financial institutions via a single API.
“These new licenses represent a major milestone for LUXHUB, as we become Luxembourg’s first and only full-scope Open Banking enabler,” said 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 – fintechs, international corporations, SMEs and many others.”
Founded in 2018, LUXHUB emerged from the combined vision of four major Luxembourg-based banks, including Banque Raiffeisen, BCEE, BGL BNP Paribas and POST Luxembourg.
The acquisition of the new licenses, which were granted by the Commission de Surveillance du Secteur Financier (CSSF), means that businesses will be able, via LUXHUB, to request permission to access bank account data in real time and use this information to provide services such as treasury management, accounting reconciliation and process automation.
LUXHUB also unveiled a new brand identity and said that the four green squares in its new logo represent its founding banks, while the creation of an additional square in the negative space represents “the hub”.
Pütz added: “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.”
From left to right in the image: Claude Meurisse, COO of LUXHUB; Claude Marx, director general of CSSF; Jacques Pütz, CEO of LUXHUB; and Jean Hilger, LUXHUB chairman.
