illimity unveils new banking service that integrates its platform with other banks

Italian lender illimity has launched a payment initiation service (PIS) that enables customers to make payments from accounts with other banks, consolidated in the illimity platform.

The account aggregation service, outlined by the European directive on payment services (PSD2). The tech-driven SME lender introduced the service in September 2019 when the bank first began operating. illimity is aiming to establish itself as the leading integrated management platform for the finances of its customers, to whom they will continue to provide an increasingly advanced range of functionalities and services.

“ is enhancing its offer in the spirit of constant innovation,” said Carlo Panella, head of direct banking and chief digital operations officer of the illimity Group. “From a wholly open banking standpoint the direct bank also enables its customers to make payments from the accounts of other banks from their illimity account, and we in illimity are proud of being the promoters of this innovation. We will continue working in this direction in order to extend our services and provide our customers with new and useful solutions.”

The news comes as illimity posted a bullish statement about its results in the first quarter of 2020, despite having had to tackle the fallout of the coronavirus.

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