Regulatory Alerts2019-11-21
Added · Updated
Account information services provision and other business activities
Account information service providers are permitted to pursue other business activities, including additional payment services, financial services, or non-financial activities, subject to specific regulatory conditions. Providers must obtain an extension of their licence for other payment services and may require separate licensing from the Dutch Authority for the Financial Markets for financial services. Supervisory authorities can mandate the establishment of a separate entity if non-payment activities impair the institution's financial soundness or regulatory compliance. Additionally, providers may use account information for other business purposes only if the payment service user provides specific prior consent under the GDPR.