Account information service provider (AISP)
An account information service provider (AISP) is a regulated firm authorised by the Financial Conduct Authority (FCA) to access a user's bank account data in read-only mode, with that user's explicit consent, under the Payment Services Regulations 2017 (PSR 2017). As defined by Open Banking Ltd, an AISP provides an online service to consolidate information on one or more payment accounts held by a user across one or more payment service providers. AISPs cannot move money or initiate transactions, that function belongs to a different type of provider, known as a payment initiation service provider (PISP).
What an AISP can and cannot do
An AISP connects to a user's bank via a standardised application programming interface (API). With consent granted, it can retrieve transaction history, account balances, regular payment patterns, and income credits. It presents or analyses that data on behalf of the user or a third party, for example, a landlord running an rental affordability check on a prospective tenant. The access is strictly read-only: the AISP cannot transfer funds, set up direct debits, or alter any account instruction. All access expires when the user withdraws consent, which can be done at any time.
From working with self-managing landlords across the UK, we see this distinction matter in practice. Landlords are sometimes uncertain about what a referencing platform or rent-tracking tool can see. The answer is clear: if the platform operates as an AISP, it can see transaction data but cannot touch the account. The money stays where it is.
How AISPs are regulated in the UK
All AISPs must register with the FCA under the PSR 2017, which implemented the EU's Second Payment Services Directive (PSD2) into UK law. Firms that provide only account information services register as Registered Account Information Service Providers (RAISPs). Firms that provide account information as part of a broader payment services licence hold a broader authorisation. Both categories appear on the FCA register, which is publicly searchable and should be verified before sharing bank data with any provider.
AISPs are also subject to the UK GDPR and the Data Protection Act 2018, which means they must state what data they will access, why, for how long, and with whom it will be shared. This digital consent journey is a legal requirement, not an optional feature.
How AISPs are used in the private rented sector
The most common use case for landlords and letting agents is tenant affordability referencing. An AISP-powered referencing platform can pull up to twelve months of verified transaction data directly from a prospective tenant's bank, producing a real-time income and expenditure profile. Unlike PDF bank statements, which can be altered, AISP-sourced data is tamper-proof and drawn directly from the bank. As all FCA-regulated open banking referencing services must use an AISP, the regulatory framework provides a clear baseline of quality and accountability.
August operates as an agent of Plaid, an FCA-authorised open banking provider, to give landlords a connected view of rent transactions across their portfolio. Plaid operates under AISP permissions, meaning it reads income and payment data to surface rent tracking insights, it does not initiate any payments.
Statutory context
AISPs are defined and regulated under the Payment Services Regulations 2017 (SI 2017/752), which give effect to PSD2 in the UK. Following the UK's departure from the EU, the regulatory framework is now maintained domestically by the FCA and HM Treasury. The Payment Services Regulations 2017 are the primary statutory reference for AISP obligations, scope, and registration requirements. The FCA's approach to regulating account information services, including outsourcing arrangements, is set out in its regulatory guidance under the PSR 2017.
Frequently asked questions
Can a landlord directly become an AISP to run their own tenant referencing?
In theory yes, but FCA registration requires demonstrating compliance with data security, GDPR obligations, and operational governance standards. In practice, self-managing landlords access AISP-powered data through regulated referencing platforms or property management tools rather than seeking their own registration.
Does using an AISP mean a tenant's bank details are shared with the landlord?
No. The tenant consents to share specific account data, typically transaction history for a set period, with the AISP or the referencing platform it powers. The landlord sees a report or summary, not direct access to the bank account. The AISP holds the connection; the landlord receives the output.
How is an AISP different from a PISP?
An AISP reads data only and cannot move money. A payment initiation service provider (PISP) can initiate payments from a user's account on their behalf. Some firms hold both licences; others hold only one. August's use of open banking falls within AISP permissions.
