Kontomatik belongs to the German Kreditech group, but the company was founded in Poland. Its CEO Piotr Warsicki has just announced that the fintech's Vilnius-based subsidiary obtained a license to operate as an AIS. This license, introduced by the PSD II directive, lets companies provide various financial services through gaining access to individual customers’ bank accounts.
It seems that Kontomatik is the first fintech founded in Poland that can boast having an AIS license. Legal services were provided by the firm dLK Legal. Its representative Krzysztof Korus emphasizes that even though formally in this case the license is granted by entering the company in a registry, it's nothing like being listed as a small payment institution (MIP), payment service office (BUP) or lending institution. - The process is as complicated and comprehensive as in the case of applying for a national payment institution license - says Korus.
The Lithuanian license will allow Kontomatik to provide services in all European Union countries thanks to the passporting principle. The company was founded several years ago in Poland, first using the name Kontomierz and offering an aggregate that allowed a user to control accounts in several banks from one place. Today Kontomierz is a Kontomatik brand that still offers the aggregate, but the company's core activity is providing services to banks and lending companies that include delivering account information regarding customers applying for loans.