AIS
ServicesAccount Information Services
Definition
Account Information Services allow third-party providers to access account data (such as balances and transaction history) with customer consent. AIS enables use cases like account aggregation, personal finance management, credit scoring, and financial planning.
What is Account Information Services?
Account Information Services (AIS) is one of the two core services enabled by Open Banking and PSD2 regulations in Europe. AIS allows licensed third-party providers (called AISPs - Account Information Service Providers) to securely access a customer's bank account data—including balances, transaction history, and account details—with the customer's explicit consent. This data access forms the foundation for many innovative financial services and has transformed how consumers manage their finances.
How Account Information Services Work
AIS operates through a secure API connection between the bank (ASPSP) and the third-party provider (AISP). Here's the typical flow:
Customer initiates consent - The user chooses to connect their bank account through a third-party application
Strong Customer Authentication (SCA) - The customer authenticates directly with their bank using two-factor authentication
Consent is recorded - The bank records the customer's consent and the scope of data access granted
API connection established - The AISP receives access tokens to retrieve account data via the bank's Open Banking API
Data retrieval - The AISP can now fetch account balances, transactions, and details within the consented scope
Ongoing access - Depending on the consent, the AISP can continue to access updated data (typically for 90 days before re-authentication)
AIS Use Cases
Account Aggregation
View all your bank accounts from different providers in one place. Apps like Plaid, TrueLayer, and Tink enable this across thousands of banks.
Personal Finance Management (PFM)
Budgeting apps analyze your spending patterns, categorize transactions, and provide insights to help you manage money better.
Credit Scoring & Lending
Lenders can assess creditworthiness by analyzing real transaction data instead of relying solely on credit bureau scores.
Accounting & Bookkeeping
Business accounting software automatically imports bank transactions, reducing manual data entry and improving accuracy.
Affordability Checks
Lenders verify income and expenses directly from bank data to ensure loans are affordable for borrowers.
Subscription Management
Apps identify recurring payments and subscriptions, helping users track and cancel unwanted services.
Regulations by Region
EU
Under PSD2, AIS providers must be authorized by their national competent authority. AISPs have lighter regulatory requirements than payment providers, as they only access data without moving money.
UK
The UK's Open Banking Implementation Entity (OBIE) sets technical standards. AISPs must be registered with the FCA.
Australia
The Consumer Data Right (CDR) enables AIS-equivalent services under ACCC accreditation.
USA
No federal AIS regulation, but providers like Plaid operate under existing financial regulations and consumer protection laws.
Related Terms
Top AIS Providers
Frequently Asked Questions
What is AIS in banking?
AIS (Account Information Services) is a regulated service under Open Banking that allows authorized third-party providers to access your bank account data—like balances and transactions—with your permission. This enables apps for budgeting, account aggregation, and credit assessment.
Is AIS safe?
Yes, AIS is designed with security in mind. Providers must be regulated and authorized. You authenticate directly with your bank using Strong Customer Authentication (SCA). Third parties never see your banking passwords, and you can revoke access at any time.
What's the difference between AIS and AISP?
AIS refers to the service (Account Information Services), while AISP refers to the provider (Account Information Service Provider). An AISP is a company licensed to provide AIS to consumers.
What's the difference between AIS and PIS?
AIS (Account Information Services) provides read-only access to account data. PIS (Payment Initiation Services) allows initiating payments from your account. AIS is for viewing data; PIS is for moving money.
How long does AIS consent last?
Under PSD2, AIS consent typically lasts 90 days before requiring re-authentication. However, the customer can revoke consent at any time through the third-party app or their bank.
Related Resources
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