LUXHUB, Luxembourg's Open Banking pioneer, is happy to announce 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. In combination with the company's existing support PFS (Professional of the Financial Sector) status, this new certification positions the company uniquely at the intersection of legacy and digital innovation within the financial services industry, further cementing its role as the missing - and trusted - link between banks and their customers, corporates and individuals.
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.
In the context of AIS, businesses will be able, via LUXHUB, to request permission to access bank account data in real time, and leverage this information to provide a range of value-added services - such as treasury management, accounting reconciliation and process automation.
From the PIS perspective, the new solutions will enable anyone with a bank account to directly initiate a payment in a secure and simple way - improving user acceptance and conversion.
These new licenses represent a major milestone for LUXHUB, as we become Luxembourgs¨' first and only full-scope Open Banking enabler, first comments Jacques Pütz, former 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.
We are excited by the prospect of facilitating the creation and implementation of more innovative solutions for the benefit of the end users. In the era of open innovation, collaboration is key, he adds.
LUXHUB unveils its new brand identity
As the fast-growing Fintech officially announces the acquisition of the AISP and PISP licences, it also showcases its new and dynamic brand identity. The four squares, representing the founding banks of the company, are again present and interlinked, with the creation of an additional square in the negative space - the Hub. This fifth square also points to the notion of ecosystem, advocating innovation, collaboration and connection at the highest levels.As we become Luxembourgs first and only 360-degree Open Banking enabler, we are also extremely happy to unveil LUXHUBs new identity," explains the CEO.
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
Jacques Pütz
This fresh identity is therefore more aligned with the strategy developed by LUXHUB and the ambition to broaden its range of solutions, the number of its partners and the size of its client base.