WHAT IS APILOGIC HUB?


The EU directive PSD2 (Payment Service Directive 2) announced in 2016 implements an open banking API on the European market, enabling third parties’ providers to initiate transfers and access to the client’s bank accounts.

APILogic Hub is an IT solution that aggregates interactions with PSD2 services in one place:

  • PIS - Payment Initation Service
  • AIS - Account Information Service
  • CoF - Confirmation of Funds

provided by all banks in the European Union.

Description of the solution


Prepared by an experienced team of architects and specialists from the financial market, the APILogic Hub solution enables integration with multiple Banks through an unified API. The APILogic Hub user does not have to worry about the implementation differences of PSD2 services that occur between individual banks.

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ACCESS TO CUSTOMER ACCOUNT - AIS / COF


Two services defined by the PSD2 directive – Account Information Service (AIS) and checking funds on the account (CoF) – are implemented by APILogic Hub, providing information on bank accounts and their history.

  • APILogic Hub collects transaction history and bank account information from many banks. The service is designed for individual and company accounts.
  • Before receiving the information, the client gives consent by APILOGIC Hub to access to the accounts and transaction history in the bank.
  • The client authenticates to the selected bank and authorizes APILogic Hub access to the selected payment accounts.
  • APILogic Hub receives a Token from a financial entity, which is used to collect account information and account history.
  • All received information from many banks are aggregated in one place and can be used to perform business analytics, e.g. for up / cross-selling processes or customer need’s research.

USAGE OF THE AIS SERVICE


The AIS service is the opportunity to implement significant improvements in processes related to the sale of services and products. APILogic Hub by AIS service provides automation of many time consuming activities in those processes.

INITIATING PIS PAYMENTS


The payment initiation (Payment Initiation Services – PIS) is he second of the services defined by the PSD2 directive. APILogic Hub implements the PIS service enabling the creation of payments and then its monitoring.

  • APILogic Hub enables creating a payment and monitoring it. The service operates for individual and company accounts.
  • Before creating a payment, the client via APILogic Hub gives consent to its execution and indicates the bank where his account is located.
  • The client authenticates to the selected bank and authorizes the APILogic Hub in order to create and monitor the payment status.
  • APiLogic Hub receives a Token from the financial entity, which is used to initiate the payment.
  • After the payment has been initiated, APILogic Hub periodically polls the bank for payment status until it is completed.

THE USAGE OF THE PIS SERVICE


The PIS service is the opportunity to implement significant improvements in processes related to payments for services and products. APILogic Hub by PIS service provides automation of many time-consuming activities in these processes

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