Open banking licence: AISP, PISP and the UK RAISP
Open banking rests on two services: reading a customer's accounts with their consent (AISP) and initiating a payment from their account (PISP). Each has its own authorisation, in the European Union as in the United Kingdom, with very different requirements.
Published on 4 November 2026 · Jason Pivron, director
AISP and PISP: two separate services
An account information service provider (AISP) aggregates the bank accounts of a user who consents to it. A payment initiation service provider (PISP) triggers a transfer from the payer's account, without ever holding the funds.
Both fall under the Payment Services Directive (PSD2) in the European Union, and under the FCA regime in the United Kingdom. The file is first about security and consent management: that is what the regulator examines first.
In the United Kingdom: the FCA's RAISP
The Registered AISP (RAISP) is the FCA registration for account information only. Our catalogue pairs it with professional indemnity insurance rather than capital.
The file covers the RAISP registration and the security and consent framework. It starts at €59,290, then €9,990 per year. To initiate payments as well, a payment institution status is needed: the Authorised Payment Institution starts at €111,701, then €29,990 per year.
In the European Union
Prices published as of 16 October 2026, government fees included, excluding regulatory capital. The capital shown is our catalogue's, to be confirmed with the regulator for your case.
- AISP: from €59,290, then €18,490 per year; professional indemnity insurance or comparable cover.
- PISP: from €90,790, then €42,890 per year; €50,000 of capital plus insurance or equivalent cover under PSD2.
- Combined AISP + PISP: from €90,790, then €42,890 per year; capital and insurance according to scope.
No renewal, but ongoing obligations
According to our survey reviewed on 30 September 2026, these authorisations stand until the authority withdraws them or they are surrendered: nothing to renew. But supervision fees, capital, reporting and oversight carry on every year, hence the annual line in our prices.
The authorisation is granted by the regulator: we build the file and answer its questions; the decision is the regulator's alone.
How to choose
An app that displays accounts and balances: AISP, or RAISP in the UK. An app that triggers payments: PISP, or payment institution status in the UK. Both: the combined file, cheaper than two separate ones in the EU.
The choice between the EU and the UK depends on your users: a European authorisation can be passported across the European Economic Area, not into the UK. Every licence is on the licences page.
Where to start
A free 20-minute call is enough to frame the exact scope of your service, which decides the status, the capital and the price, with a firm quote before signature: book a call.
Frequently asked questions
What is an AISP?
An account information service provider: it aggregates the bank accounts of a user who consents to it, without initiating payments.
How do you get a RAISP licence in the UK?
Through registration with the FCA, with a security and consent framework and professional indemnity insurance. Our file starts at €59,290, then €9,990 per year.
What capital does a PISP need in the EU?
Our catalogue shows €50,000 plus insurance or equivalent cover under PSD2, to be confirmed with the regulator.
Does an AISP or PISP authorisation need renewing?
No, it stands until withdrawn or surrendered; but supervision fees and obligations carry on every year.