Procedure and general account information as a basis

FinTecSystems is an account information service and payment initiation service that always performs the services offered on the basis of the user's login to his online banking account.

Initially, certain information must be explicitly transferred by the merchant via the API/interface in order to trigger a payment by the customer. Various API products are available for this purpose (payform, paycode), which are described in more detail below. The data readable from the online banking of the relevant bank details and the functions for executing a SEPA transfer serve as the basis for all these products.

To minimise the risk of non-payment, a security check based on the sales categorisation/tagging carried out by our system can optionally be used.

On the basis of the electronic account statement for each bank account requested, Fintecsystems identifies and categorizes the relevant transaction history of consumers retroactively up to 360 days. This means that each individual account turnover is provided with at least one turnover day and assigned to its own turnover category. Here the focus is currently on private current accounts.

Tagging for business and company accounts is currently in the beta phase.