The Bank of Greece authorizes ITBS Finance (t/a finker) as a Payment Institution to provide Account Information Services (AIS) in Greece and the EEA.
The authorization which is under the Payment Services Directive Two (PSD2) demonstrates our commitment to provide Open Banking Services in the EEA after Brexit.
At its most basic level, Brexit means that the right to do business between the UK and Europe is no longer a given and The European Central Bank (ECB) is demanding that entities looking to access Europe must be licensed in the EU. Based on that license, they must acquire “passports” for all markets in which they operate.
There’s no question that this has been a challenge for our team as the ECB’s requirement meant relocating our operations from an FCA regulated UK firm to a new firm based in Greece, namely ITBS Finance.
About finker
We help firms to understand how the revised payment services directive (PSD2) impacts them in their corporate strategy and provide the technology tools to assist their digital transformation.
About the Bank of Greece
The Bank of Greece, in cooperation with the relevant European authorities, monitors the banking risks that threaten financial stability, supervises credit institutions and insurance companies operating in the country and is responsible for their resolution, where necessary. It also oversees payment and settlement systems.
