The figo Bankathon is getting its own spinoff: BANKATHONx

figo is making it possible for banks, companies and anyone interested to organise their own FinTech hackathon tailored to their individual requirements: the BANKATHONx!

Want to increase awareness of your company? Make yourself known as an attractive employer? Become a master of innovation? Form new alliances?

👉 You can do all this and more with your own BANKATHONx. figo will design the event according to your aims and tailor it to your corporate strategy. Additionally, our team will support you with the organising, acquiring participants, marketing and implementation. As the host of a BANKATHONx, you’ll benefit from a well-known brand and attract the attention of an entire industry.


figo talks PSD2 #10: How Open Banking will change the world!

How Open Banking will change the world


Let’s talk about how Open Banking will change the world!

In the 10th episode of ‘figo talks PSD2’ we are talking with Ashley Groom (Global Expansion | GoCardless), Duncan Barrigan (Head of Product Management | GoCardless)  and Nadja Schlössel (Head of Product Strategy | figo). Tune in and stop the confusion with different understandings of Open Banking!


We are talking about:


#figoInside: easybill introduces its cloud-based online billing software

The beginning of our #figoInside series this year will be our partner easybill. Based in Kaarst near Dusseldorf, the company’s mission is to make life easier for its customers with a cloud-based online billing software: From invoicing and recording of incoming payments to automated accounts receivable management – easybill has thought of everything that saves time and nerves for the entrepreneurs.

The founder Philipp Gesell tells us what he thinks about FinTechs, banks and PSD2, how he came up with the idea of easybill and how users benefit from figo’s technology in the #figoInside interview!


‘Licence as a Service’ – PSD2 solution powered by figo

With RegShield, figo plans to help third parties with new authorization requirements

13 January 2018 was the day that the PSD2 became a reality and thus EU member states must comply. In addition to this, BaFin confirmed it on 5 December 2017 as part of the conference “Payment services in the field of digitalization and security needs”: ‘Licence as a Service’ models are basically possible under the Payment Services Directive 2 (PSD2)! This means: companies that offer or use payment initiation and account information services (PISP/AISP) today can also seek a regulated partner for this purpose under certain circumstances. For 2018, figo is aiming for its own payment institution licence (PISP and AISP) and plans to be a reliable ‘Licence as a Service’ partner in the market with the service product ‘RegShield’. figo partners will not have to apply for their own authorization!  (more…)

How banking data contributes to financial inclusion with regard to credit provision

“Is there a right to credit?”, Maria Lissowska (Senior Expert, European Commission) asked at the beginning of the “Panel 3 on Credit”. Well, obviously there’s no written right to credit, but it’s also obvious that the opportunity for a credit is a big contributor to financial inclusion. However, the opportunity for a credit depends largely on the consumer’s creditworthiness. The question should therefore be in the future, how can creditworthiness be reflected by the financial reality of the credit applicant and thus promote financial inclusion?

Instead of often incomprehensible and intransparent credit scores for consumers, banking data itself provides the necessary data for the evaluation of creditworthiness. Because in the sense of data minimisation, the question should be which data is actually needed for the credit decision. Furthermore, the financial reality of a credit applicant is not correlated to market data as the basis for credit scores because every single person applying for a credit is an unique case.


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

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

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



Bankathon #5 Berlin: #ChatSurance triumphs, everybody wins

#ChatSurance shows the possibilities of ‘Open Banking’, combines FinTech with InsurTech and walks away from the Bankathon stage as the winner

Combination of various APIs and inclusion of ‘Alexa’ impress jury

Bankathon #5 Berlin ©


figo has done it again: For the fifth time, the Hamburg-based FinTech company has put on the banking and FinTech hackathon. Venue: Berlin. Wear and tear? Nowhere to be seen! The fact that the Bankathon is established as a neutral platform in the financial sector, bringing together the most – and we mean the most – diverse players in the industry, particularly shines in this fifth edition. Banks, industry associations, payment providers, initiatives, credit bureaus, company builders, consultancies and cloud providers were among the sponsors and supporters. 20 teams from different nations addressed the topic “PSD2 & … ?!”. In the end, their prototypes had to be found within the topics of Health, Identity, Insurance, SME or Travel.

See the video from the Association of German Banks “Bankathon #5 in 60 seconds” (German):

Here you can look at and download our detailed Bankathon #5 recap presentation:

Dropbox link


figo’s two cents on the Commission’s RTS on communication under PSD2

Go! – Parliament and Council should approve provided RTS

It’s almost done! On Monday this week, the European Commission submitted the Regulatory Technical Standards (RTS) for approval by the European Parliament and Council. figo generally welcomes the latest version with regard to the outcome on XS2A communication under PSD2, even if the devil is in the details once again. Any lingering issues – which we will further outline below – should not become deal breakers and the Parliament and Council should give their approval. We think that these last hurdles can be properly solved by the EBA and national authorities, if they plan their practical involvement wisely now. (more…)

Regulatory Technical Standards made easy: New update on the figo RTS Change Log #3

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

Now it’s almost done! The European Commission submitted the Regulatory Technical Standards for approval by the European Parliament and Council. Subject to the scrutiny period of three months, the rules will be published in the Official Journal of the EU and payment service providers will have 18 months to put the measures and tools in place.

In order to enable you to keep track of the financial changes, figo shares the third ‘RTS Change Log’ version with you! Simply click on the image!

figo_PSD2: Regulatory Technical Standards Change Log #3

We love to make your life easier by means of our technology and information on 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!


Bankathon #5 Berlin: Interview with Gold Sponsor Deutsche Bank

In principle, PSD2 opens up possibilities for all kinds of companies that could allow them to improve existing products and services through banking data and create new products by combining their technology with bank data”, said Niklas Grunewald from Deutsche Bank Innovation Labs, Berlin. Thanks a lot for answering the interview and supporting the Bankathon as a Gold Sponsor. We could not imagine a Bankathon without Deutsche Bank! 💙 (more…)