The new PIS service will be offered for customers who have activated illimity connect, the account aggregation service
The bank plans to gradually extend the PIS service. (Credit: Pixabay/Juraj Varga)
Illimity Group’s digital direct bank illimitybank.com has announced the introduction of the Payment Initiation Service (PIS) in Italy.
The system allows customers to make payments from accounts of other banks consolidated on its platform.
The new service would be offered for customers who have activated illimity connect, the account aggregation service that is already available for customers from all banks.
The bank’s customers are also enabled to make standard bank transfers from the illimity platform operating on one of their aggregated accounts, and would also male instant, recurring and international transfers.
In addition, the operations available through the PIS service are planned to be gradually extended, enabling customers to fund their spending plans or add to their illimitybank.com deposit accounts using their aggregated current accounts.
Illimity Group direct banking head and chief digital operations officer Carlo Panella said: “illimitybank.com is enhancing its offer in the spirit of constant innovation.
“From a wholly open banking standpoint the direct bank also enables its customers to make payments from the accounts of other banks from their illimity account, and we in illimity are proud of being the promoters of this innovation.”
“We will continue working in this direction in order to extend our services and provide our customers with new and useful solutions.”
In September 2019, illimitybank.com has launched the account aggregation service for the first time in Italy.
illimitybank intends to strengthen its position as an integrated management platform
The new solution has been developed as part of the open banking collaboration with Fabrick and is expected to enhance the account aggregation offering.
Through the new initiative, the bank intends to strengthen its position as an integrated management platform for the finances of its customers.