Glossary
Account information service (AIS)
An account information service, AIS, is the regulated service of reading a customer's bank account data, balances, transactions and account holder details, with the customer's consent, through the bank's Open Banking interface. It is provided by licensed account information service providers and used for account verification before a payout, affordability and income checks, accounting and personal finance tools; the consent expires and must be renewed, every 180 days in the EU.
What it is used for in payments
Confirming that the bank account a merchant or a payout recipient gave belongs to them, before money is sent; checking a customer’s income or balance for credit and instalments; reconciling a business’s accounts automatically. It is not a payment method: no money moves.
The rules
Only licensed or registered providers may read accounts; the customer authenticates at the bank and gives a consent limited in scope and time; the data may be used only for the purpose consented to. Banks must offer the interface and may not block registered providers without cause.
On the platform
Tranzify does not read bank accounts and offers no account information service; the term is here because the Open Banking providers in the catalogue often hold both licences, and a client working with them meets account information in their contracts and in the verification flows those providers offer.
Updated: 2026-11-08