The Payment Initiation Service makes its debut in Italy with illimitybank.com

A new approach

For the first time ever in Italy, illimitybank.com’s Payment Initiation Service enables customers to make payments from different current accounts consolidated on a single platform.

illimitybank.com’s customers can access all their accounts using a single log-in, no longer having to hop from one app to another.

In addition to having a complete view of their financial situation at a single point, customers can operate on any account making standard transfers, and from June will also be able to carry out instant, recurring and international transfers.

Read the press release

Open Banking: digital evolution in payment platforms

The new platform will be presented at the streamed event promoted by illimity on StartupItalia at 2 p.m. on 14 May with the following speakers attending:

Silvia Attanasio, Head of Innovation, ABI
Carlo Alberto Carnevale Maffè, Associate Professor of Strategy and Entrepreneurship, SDA Bocconi School of Management
Carlo Panella, Head of Direct Banking and Chief Digital Operations Officer, illimity Group
Paolo Zaccardi, CEO, Fabrick

Follow the Round Table

ILLIMITY CONNECT

Connect other banks

This new function is available for customers who have activated illimity connect, the account aggregation service set up by illimitybank.com.

Within illimity bank customers can connect with all the other banks to obtain a complete view of their finances by simply opening the illimity bank app with their credentials or using home banking. The service activates immediately and is free of charge.

Payment service

This allows customers to make standard bank transfers from the accounts of the aggregated banks directly from the illimity personal area. From June, the service will also provide them with the possibility of making instant, recurring and international transfers as well as topping up their mobile phones.

new

From many apps for one single bank to one single app for many banks. illimity is launching the PIS.

With the launch of the Payment Initiation Service, the illimity connect system, which enables all banks to be connected, is enhanced with the payments function to give customers a first control of their spending.

live
Account aggregation – other banks

This enables customers to connect in illimity bank with all the accounts of the other banks and view them immediately in the illimity bank app.

COMING SOON
Analysis extended to all accounts

The reports and smart analysis of illimity is extended to the accounts of the other banks to provide a complete view of how finances are performing.