What is an AISP?
Definition of AISP
AISP stands for Account Information Services Provider. AISP status is awarded and regulated by the Financial Conduct Authority (FCA), and accredited firms can help customers to access account information from separate bank accounts via a single portal. These services are usually designed to help users manage spending and plan their finances.
What do AISPs do?
Account Information Service Providers are authorised to view bank account information but cannot instigate payments or move money on behalf of their users.
Examples of AISPs often include:
- financial institutions
- consumer credit companies, such as Experian
- financial software providers, including FreeAgent
- money transfer services
FreeAgent was among the first companies in the UK to achieve AISP status in 2018. This will allow us to provide Open Banking services to our customers and their accountants.
A list of firms registered as AISPs can be found on the FCA website.
Got questions? Ask Emily!
FreeAgent's Chief Accountant Emily Coltman is available to answer your questions in the comments.