Consorsbank offers customers figo based MultiBanking

More than 10,000 account holders already have the chance to end account chaos

Based on figo technology, Consorsbank has introduced MultiBanking for its customers. They now can also add accounts and deposits they have with other banks after logging into their online banking, giving Consorsbank customers the opportunity to manage all their finances in one place and to keep an eye on their overall financial situation when they want. The technical foundation for this is figo. With its business model, the Hamburg-based FinTech company has opened the banks’ existing data and represents this new, open banking world like no other company. Banks such as Consorsbank have recognized the resulting opportunities and are using figo to offer their customers innovative banking solutions: in this case, MultiBanking. (more…)

figo’s PSD2 | RTS Progress-O-Meter (Infographic)

figo's PSD2|RTS Progress-O-Meter

figo’s PSD2|RTS Progress-O-Meter (Infographic)

 

Here is where you find more PSD2 RTS related Info

  • figo’s RTS Change Log shows you the recent developments regarding changes of the RTS
  • Listen to our figo’s PSD2 Podcast and stay on top of the game with your PSD2 related knowledge

Excursus – Open Letter to EU decision makers on PSD2 RTS

figo's open letter to EU decision makers on PSD2 RTS

Dear Commission Members,

dear MEPs and

dear Members of the European Council,

Dealing with all pros and cons of the debate on the EBA’s Regulatory Technical Standards (RTS) under PSD2 and especially with the “Screen Scraping” fronts must indeed be a challenge. As it comes with far more than the usual number of hurdles. That is, most importantly: regulating fast-evolving technology.  None of us involved can provide solid experience in that regard.   

This open letter is not about the usual pros and cons of this debate. Others have summarised them well. It rather intends to provide you with actual solutions, i.e. smart trade-off ideas that could mean an end to the everlasting “Screen Scraping Debate” and eventually the RTS process. From our point of view, every decision you make on this topic over the next weeks should be challenged by means of the following questions, in addition to PSD2’s general goals or first level regulation limits. (more…)

#figoInside: take four 🎬 – with the cloud-based ERP software weclapp

The series #figoInside entered the next round. This time we present the cloud-based ERP-software weclapp. CEO Ertan Özdil answered our questions and told us, how he got the idea of creating weclapp: “The working world is changing as a result of new technologies and is becoming faster, more mobile and isn’t bound to departmental, local or national borders. This is where weclapp starts. Our ERP software enables us to work in the cloud, beyond any boundaries.”

(more…)

View the update on the figo RTS Change Log #2

Click on the pic to get the brand new, second update of ‘RTS Change Log’!

“We did it again! Now that we created our RTS change log in the first place – why not keep it up to date? The EBA just published its Opinion in response to the European Commission intention to amend the EBA Technical Standards. At the same time, it additionally published a version of the RTS that included its proposals for amendments.

In order to enable you to keep track of all these confusing changes from different parties we proudly present the RTS change log #2. Simply click on the image!

figo RTS Change Log #2

What’s the figo RTS Change Log?

figo shares the change log version of the RTS with you! Have you ever wondered about what was actually changed in the Regulatory Technical Standards defining the “technical how to” of the Payment Services Directive 2 (PSD2)? It’s a tough job to keep track of the ever changing “final drafts” of the RTS, right?

We love to make your life easier. With our technology and the related topics. So sharing our progress in keeping track of the changing requirements of relevant banking regulation feels like the right thing to do for us. Enjoy the convenience!

(more…)

“Bank CEOs should question everything that is assumed today” #figoInside aboalarm

aboalarm is an early figo partner since 2014. Since then the two companies have worked together in many ways. aboalarm is not only using figo in its contract checker but also participated at figos 3rd Bankathon in Hamburg where they won the second prize. Most importantly, figo and aboalarm (fintracer) have developed the transaction categorisation on top of the figo API together. Read the interview with Product Manager David Drews for more insights about Munich-based aboalarm. (more…)

figo talks PSD2 #7: Commission’s RTS fallback proposal: balanced or unfortunate?!

Let’s talk RTS – it’s getting technical!

Today’s ‘figo talks PSD2’ podcast is all about the newest developments of the so called Regulatory Technical Standards (RTS) concerning a fallback solution needed to be provided by banks. This fallback solution will happen in case of unavailability or inadequate performance of the interface.

In today’s 7th episode of ‘figo talks PSD2’ we are discussing the topic with:

Foto of Sebastian Tiesler, Chief Product Officer @figo

Sebastian Tiesler, Chief Product Officer

Foto of Joachim Penk, Chief Technology Officer @figo

Joachim Penk, Chief Technology Officer

 

 

 

 

 

 

Foto of Cornelia Schwertner, Head of Regulation @figo

Cornelia Schwertner, Head of Regulation

Foto of Nadja Schlössel, Global Strategy and Brand @figo

Nadja Schlössel, Global Strategy and Brand

 

 

 

 

 

 

 

We are talking about:

  • Introduction of the current status of the RTS
  • Getting often misunderstood terms straight
  • The fallback proposal – what’s that?
  • What does the fallback mean for the XS2A API strategy of a bank?
  • What are the technical needs, if a bank decides to provide a dedicated XS2A interface?
  • How could a PSD2 compliant direct access look like?
  • What’s the advantage of using a well-performing API?
  • … enjoy listening yourself, now!

(more…)

Regulatory Technical Standards made easy: RTS Change Log!

Click on the pic to get the brand new ‘RTS Change Log’!

figo shares the change log version of the RTS with you! Have you ever wondered about what was actually changed in the Regulatory Technical Standards defining the “technical how to” of the Payment Services Directive 2 (PSD2)? It’s a tough job to keep track of the ever changing “final drafts” of the RTS, right?

figo_PSD2: RTS Change Log

We love to make your life easier. With our technology and the related topics. So sharing our progress in keeping track of the changing requirements of relevant banking regulation feels like the right thing to do for us.

(more…)

Bankathon CEE: BAWAG P.S.K., Erste Bank, Raiffeisenbank International & UniCredit work toward a common cause

Viennese FinTech company ChillBill wins it! For the first time, women decided the Bankathon

Bankathon winner ChillBill © Tom Roschanek

Bankathon winner ChillBill © Tom Roschanek

Bankathon CEE – Figures, data, facts

The special programming competition is focussed on banking and financial services. Organized by FinTech companies figo and IntraBase, the now tried and tested concept took place for the first time in Vienna, under the motto “PSD2 and beyond”. The Payment Services Directive 2 (PSD2) is a topic currently being implemented by banks, for which new players on the market – the FinTechs – already have solutions. So why not bring together all parties, let loose their creativity, and reinvent the banking of the future with the intensity that only a 30-hour-long programming competition can offer? Said and done! Over 250 guests, including 75 brilliant programmers and product developers from twelve nations across 24 teams, made the first bankathon in Vienna! And at the end of it, more than €10,000 in prizes have been awarded. Diamond sponsors rewarded their personal favorite teams with their own prizes. (more…)

Bankathon CEE: Interview with Gold-Sponsor TCI Consult

TCI Consult made a last minute decision and changed their role at Bankathon CEE from Supporter to Gold-Sponsor! Franz Amesberger, CEO of TCI Consult in Vienna told us why. In the run-up to this special event he was looking forward to a high level of creativity and inspiration and making new contacts. We know now: He hasn’t been dissapointed!

(more…)