In this revealing session on “Fintech Tides.” Kristian Sternros, co-founder and COO of Finshark, sheds light on the critical but often overlooked role of Account Information Services (AIS) in the ecosystem of open banking. Despite being less visible compared to Payment Initiation Services (PIS), AIS offers profound capabilities that can revolutionize business processes across various sectors.

What we discuss:

  • Understanding the relationship between AIS and PIS
  • Licensing and regulation
  • How businesses leverage AIS
  • Impact across different industries
  • Real-world examples

The backbone of open banking.

Fundamentals of open banking.

The podcast begins with a foundational overview of open banking, dividing it into two main components: AIS and PIS. Kristian elaborates on how these services interact, with AIS providing essential data that enables PIS functionalities.

Regulatory and licensing nuances.

Kristian discusses the intricacies of regulatory requirements that govern AIS and PIS, highlighting the necessity of specific licenses like the AIS license, which is needed for payment initiation services.

Business applications of AIS.

Moving from theory to application, the discussion pivots to how businesses utilize AIS to empower business success, enhance customer verification processes, and ensure compliance with regulatory standards.

Sector-specific impact of AIS.


AIS is crucial for iGaming platforms, providing tools for compliance and frictionless customer experience by verifying customer data and managing transactions efficiently.


In e-commerce, AIS facilitates secure and accurate transactions, ensuring that refunds and payments are processed directly to the correct accounts, thus enhancing customer trust and satisfaction.

Financial services.

For financial institutions, AIS is invaluable for real-time data access that supports accurate credit assessments and risk management, enabling better decision-making regarding loans and customer creditworthiness.

Real-world implementations of AIS.

Kristian introduces Bolagspartner, a company that specializes in corporate liquidations, utilizing AIS to verify company data swiftly and accurately, thus eliminating the need for cumbersome manual processes.

Another example provided is House:ID, who are using AIS to manage property-related financial information, helping property owners make informed decisions about insurance and mortgage opportunities based on comprehensive data analysis.

Conclusion and future outlook.

The episode concludes with reflections on the future of AIS and its evolving role within open banking, underscoring its critical function in ensuring data accuracy, enhancing user experience, and complying with regulatory standards. Kristian’s insights highlight the transformative potential of AIS across various industries, proving it’s a cornerstone of modern financial services.