After clicking “Add new bank”, you reach the selection of the connection type.
The following options are available:
PSD2 / FinTS connection (standard access via finAPI or BANKSapi)
EBICS connection (included from the Enterprise Edition )
PSD2 / FinTS connection
PSD2
PSD2 (Payment Services Directive 2) is an EU directive that regulates access by third-party software such as COMMITLY to bank data.
For this, COMMITLY uses the regulated account information service providers (AISPs) finAPI and BANKSapi.
FinTS
FinTS (Financial Transaction Services) is an older but still very secure standard.
It is mainly used in Germany.
Security & data protection
All data is transmitted exclusively in encrypted form - there is no unprotected data transmission.
COMMITLY works with read-only access: No transfers can be initiated, transactions are only displayed.
Every 90 to 180 days, access must be confirmed again for security reasons (e.g. with a TAN).
These requirements ensure a secure and legally regulated connection, fully compliant with data protection rules and the GDPR.
EBICS connection
EBICS (Electronic Banking Internet Communication Standard)
A Europe-wide standard supported by many banks.
Developed to make bank connections technically secure and efficient.
How it works
EBICS works like a “technical tunnel” between the bank and COMMITLY.
Account information is transmitted regularly and automatically.
No TANs or manual approvals are required.
The difference between EBICS and PSD2/FinTS:
| EBICS | PSD2/FinTS |
Linked to a person? | No | Yes |
TAN confirmation required? | No | Yes, every 90-180 days |
Connection permanently active? | Yes | Must be renewed regularly |
Use in COMMITLY | Included from the Enterprise Edition | Available by default |