finAPI ® PSD2 License

Your solution to the regulatory requirements of PSD2.

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finAPI ® PSD2 License

Possible licensing and registration obligation Use of finAPI without own licensing or registration with BaFin

Due to regulatory requirements, your company may be subject to stricter legal requirements since the beginning of January 2018.

This applies to your company if

  • your consumers or companies are provided with online services that display or process bank account information and/or makes payments from a user's bank accounts, and
  • your company has access to the online-banking credentials of a user data allowing online access to bank accounts, and
  • the online banking credentials allow to access data of payment accounts, in particular checking accounts.

If you meet these criteria, you may have been operating a regulated transaction as an account information service (KID) or payment initiation service (ZAD) since January 2018. On 5 December 2017, BaFin had announced comprehensive information on this subject. You will find the relevant information under: Https://

finAPI PSD2-License

So that you can continue to operate your business as usual despite the obligation to regulate, we provide you with finAPI as an add-on the product "finAPI PSD2 license", which allows you to continue your business model without having to register/license with BaFin. The following prerequisites apply as a minimum:

  • Your company may no longer gain access to your customers' online banking credentials. Technically, the access data must be transmitted directly to finAPI. This is possible, for example, by displaying a website of finAPI to the user (analogous to payment transactions e.g. with PayPal).
  • It must be transparent to the consumer that finAPI the account retrieval and not your company (e.g. via a corresponding reference to finAPI).
  • finAPI offers a web form separate from your system for entering bank access data.
  • • The user must directly conclude a licence agreement with finAPI

finAPI has been a payment institution licensed by BaFin - pursuant to PSD2 - in accordance with the German Payment Services Supervision Act (Zahlungsdienstaufsichtsgesetz - ZAG) since 25 January 2019.

Likewise, the Financial Market Authority (FMA) has granted the finAPIGmbH the license to provide payment services under the freedom to provide services as a payment initiation service and account information services (ZaDiG 2018 pursuant to Annex RI 2007/64/EC).

Important: in the last instance, the BaFin decides on the obligation to register or license and on the compliant use of the finAPIPSD2 license in the individual case.

Advantages of the finAPI PSD2 license

With the finAPIPSD2 license, you can focus on your business. You save yourself the extensive, one-time and ongoing expenses associated with the registration and licensing process, such as

  • a professional liability insurance
  • provision of liability capital
  • internal and external audits
  • meet stringent security requirements for operational processes and data protection
  • security incident management and reporting
  • compliance with money laundering guidelines and establishment of fraud prevention processes
  • ongoing reporting to supervisory authorities


Important: Since the law came into force on 13.1.2018, you should always check whether the regulation applies to your company and if so, whether you would like to register or license your company yourself or whether you would like to use our product add-on "PSD2 license".

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