UniCredit Bank Austria unveils country’s first PSD2-compliant multi-banking system

18 martie 2021

All payment accounts and finances from different banks managed from a single location via UniCredit Bank Austria Internet banking or MobileBanking using secure API interfaces.

UniCredit Bank Austria is the first and currently only bank in Austria to support management of accounts held with third parties via secure API interfaces within its Internet and mobile banking platforms, according to a press release.

Open banking are the words on everyone’s lips, and we are paving the way in Austria by launching the first application to comply with the new PSD2 guidelines„, says Robert Zadrazil, CEO of UniCredit Bank Austria. „Our goal as Austria’s leading multi-channel bank is to make our key services available to each and every one of our customers, regardless of time zone, location or usage patterns. We are now taking our commitment in this area one step further by enabling our customers to view and manage payment accounts held with other banks using our 24You Internet banking platform and our MobileBanking app. With these future-oriented digital platforms, our customers have an overview of all their financial information at their fingertips whenever they need it.

This development marks the start of a new era in digital banking, and we are currently the first and only true banking platform in Austria as provided for in the new PSD2 guidelines„, Zadrazil added.

First PSD2-compliant multi-banking platform using secure API interfaces
Since September 2019, account-specific payment service providers and banks have been required to set up dedicated interfaces for third-party providers. Screen scraping is now prohibited and can only be used a fallback in the event of outages or failures. These changes mean that FinTech companies and payment service providers are now able to connect with banks via secure communication interfaces (APIs), which ensures data security for the banks’ customers. In addition, banks now have the opportunity to become platform providers themselves.

Free multi-banking with highest security standards
Accounts held with the following banks can now be managed via 24You Internet banking and the UniCredit Bank Austria MobileBanking app: Erste Bank and Sparkassen, Raiffeisen, Volksbank, BAWAG and easybank, Sparda Wien, Hypo NOE, Hypo Tirol, Hypo Vorarlberg, DolomitenBank Osttirol-Westkärnten, Bankhaus Spängler, Austrian Anadi Bank, Schoellerbank, Marchfelder Bank, Schelhammer & Schattera, Bank Winter & Co, Generali Bank, Bank Burgenland, and Capital Bank and the banks within the UniCredit Group.

How it works

Customers must agree to the Terms and Conditions when using the system for the first time.

Accounts are imported by selecting the relevant bank, by entering either its name or the BIC. The account to be imported is then selected by entering the IBAN

Next, the customer will be redirected to the onboarding process for the bank in question. This step is completed in the third-party bank’s online environment and not in the technical environment of UniCredit Bank Austria’s 24You Internet banking or MobileBanking app

For security reasons and in accordance with the requirements of PSD2, the customer must give approval using a transaction authentication number (TAN) for the account to be connected with UniCredit Bank Austria’s 24You Internet banking or MobileBanking app

Once this process has been successfully completed, the customer will be able to use the imported account via 24You or the MobileBanking app and do the following:

. View account information, such as balance and account activity

. Manually update transactions in their third-party bank account up to four times per day via a „Refresh” button

. It will soon be possible to log payments (SEPA Credit Transfer) directly in 24You and the MobileBanking app too. Customers will be redirected to the Internet banking page of the respective third-party bank to provide final confirmation. This ensures that the very highest security standards are in place.

UniCredit Bank Austria employees will at no time be able to view the accounts that customers have imported, and data relating to these accounts will not be used for marketing purposes.

There is no charge for using multi-banking.

The new MobileBanking app
„Our innovative new MobileBanking app provides the foundation for the next generation of open banking. We have also made further improvements to our video consultation service, which we pioneered in Austria with the launch of SmartBanking, and customers can also open an account online in under 15 minutes”, says Robert Zadrazil, CEO of UniCredit Bank Austria.

The technical basis and the design of the new MobileBanking app make it just as powerful as 24You internet banking, the simplest Internet banking service in Austria. Functionality such as the advanced personal financial manager and intelligent transfer forms makes the app even more appealing.

With the automatically integrated personal finance manager, customers have a perfect overview of their income and expenditure. The new intelligent transfer forms recognise the type of transfer based on the account number, automatically populate known account details and guide the user intuitively through the process. Another new feature is the option to handle foreign or tax office transactions using the new MobileBanking app.

No additional security app required
As previously, all orders can be made and approved directly in the MobileBanking app, and now even more quickly using facial recognition, fingerprint ID or MobileTAN Push. All of this means that, unlike with many other banks, no second app is required. Even SMS confirmation is no longer required, but the app still meets the highest security standards because all security provisions have already been integrated into the app.

A fully redesigned trading area for securities trading completes the portfolio of new features. Easy navigation and an innovative design deliver a full-service trading area even on a smartphone – all current purchase and sales limits, for example, can be entered and managed directly using a smartphone.

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In 23 septembrie 2019, BNR a anuntat infiintarea unui Fintech Innovation Hub pentru a sustine inovatia in domeniul serviciilor financiare si de plata. In acest sens, care credeti ca ar trebui sa fie urmatorul pas al bancii centrale?