figo RegShield: The first PSD2-compliant product is live in Germany

figo RegShield: The first PSD2-compliant product is live in Germany

figo RegShield: The first PSD2-compliant product is live in Germany

Via Passporting, the company is preparing for the Europe-wide rollout

For three months, Hamburg-based FinTech figo has been a payment institution supervised by BaFin, permitted to offer account information (AIS) and payment initiation services (PIS) – to date the only company in Germany with such authorisation. In the context of the licence, the company has been granted permission to offer a ‘licence-as-a-service’ model: figo RegShield makes it possible for partners to offer their services without having their own registration or licence from BaFin, despite PSD2. In early November 2018, the product went live, with third-party vendors already using the capabilities of RegShield and the first PSD2-compliant services in Germany being conducted with figo.
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PSD2 Third Party Provider – Show BaFin you’re not just a technical expert

More than two years ago I started a blog and shared my experiences with other third party service providers, what it means to adjust to the new PSD2 obligations.  Among other things, I explained in three parts from June 2016 to September 2016 what is important for the remaining preparation time until a BaFin licence application. Where do we stand now?
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Bankathon # 6: RatePAY wins with #swopp

15,000 euros in prize money, 30 hours of coding time, 24 pitches, 16 sponsors, 7 APIs, 5 winners, 4 theme tracks, 3 days, 2 photographers, 1 camera team and the world’s best barista …

… – all told, that’s exactly what you need to describe the sixth Bankathon, which returned to Frankfurt, with interest in the FinTech and banking hackathon continuing unabated. With the TechQuartier as a location for coding and the Handelsblatt ‘Bank Summit’ as a partner for the final pitches, the orga team was able to offer participants and guests exactly what the Bankathon stands for: a platform where the traditional banking world meet industry newcomers at eye level and have meaningful interactions. Here is a detailed recap of the event including teams.

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Bankathon #6 Frankfurt: Media partners

The countdown is running – #6 days are left until Bankathon #6 begins! An important part of the event are its media partners: Berlin Valley, finletter, Gründerszene, IT-Finanzmagazin, Payment & Banking and TechQuartier!

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Bankathon #6 Frankfurt: Silver Sponsor ti&m

Today, we introduce Silver Sponsor ti&m – which stands for technology, innovation & management. The Swiss IT company was founded in 2005, employs more than 300 people and is a leading player in digitization and security products as well as innovation projects. Bankathon #6 marks their debut as a supporter and we are really happy to have them on board!

Follow Marco Berg’s, Managing Director at ti&m, call and seize Bankathon #6 in Frankfurt as the perfect opportunity to connect with other innovators.

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Bankathon #6 Frankfurt: Special Supporter Bankenverband

The Association of German Banks is Special Supporter of Bankathon #6 and thusly on board for the second time in a row. The advocacy group of German private banks, headquartered in Berlin, represents around 200 credit institutions and has 20 extraordinary FinTech members – one of them is figo!

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figo receives ZAG licence and enables ‘Licence as a Service’ through RegShield

Hamburg FinTech is a payment institution regulated by the BaFin in accordance with PSD2

As of 16. August 2018, it’s official: figo GmbH is now a regulated institution under the Payment Services Supervision Act (Zahlungsdiensteaufsichtsgesetz – ZAG), granting figo authorisation by the Federal Financial Supervisory Authority (BaFin) to provide payment initiation (PIS) and account information services (AIS), which have been regulated since the beginning of the year.

At the end of 2015, figo set its focus on fulfilling regulatory requirements as soon as the new licensing requirements for the Payment Services Directive 2 (PSD2) became known. This licence as a payment institution is the natural consequence of a consistent focus on security, transparency and compliance. figo saw early on that the consistent rules offered by the regulation were an opportunity not only for their own business model, but for the entire industry, leveling the playing field.

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Bankathon #6 Frankfurt: Silver Sponsor Sutor Bank

Today we want to introduce to you Sutor Bank, Silver Sponsor of Bankathon #6. The private bank was founded in 1921 in Hamburg and makes professional asset accumulation available to everyone. It supports our event for the third time already – thank you for the trust in us and in the Bankathon!

With Hartmut Giesen, Business Development Manager at Sutor Bank, we have a true FinTech expert on board. Seize the opportunity and talk to him about intelligent technology for tailor-made private banking.

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The P in PSD2 is for Pain

I used to write love letters and was even called an idealist when it comes to Open Banking regulation. So what has happened? Why has the second Payment Services Directive (PSD2) become so painful for me lately?

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Bankathon #6 Frankfurt: Silver Sponsor Senacor

May we introduce Senacor, Silver Sponsor of Bankathon #6? The provider for business and IT transformation, digitization and individual software development supports the event for the third time already! Also, they participate with their own developer team.

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