Implementation of the AIS mechanism to assess creditworthiness

We advised the leading lending institution on the following project:

IMPLEMENTATION OF CREDITWORTHINESS ASSESSMENT WITH THE USE OF THE SO-CALLED AIS SERVICE

• The AIS service is an Account Information Service, introduced by the PSD2 Directive as part of open banking.
• Thanks to this service, the payment account holder may allow their lender (also lessor, insurance company, landlord, etc.) to download the user information directly from electronic banking platform during the application process instead of asking the user to provide such information. Before downloading the information, the user is redirected to the website of their bank to approve such download. The lender may download the data on their own if they have a license granted by the PFSA to do so, and, in the absence of such a license, they may use the service of another provider who has such a license.
• Creditworthiness assessment is mandatory under the draft amendment to Consumer Credit Directive of 2021 and under the draft so-called “Anti-Usury Act” of 2021.

The advisory services of DLK Legal with respect to such projects mostly include:

1. indication of the permissible scope of use of payment account data
2. provision of specimen consent and information clauses allowing for the collection of data from the account and their processing
3. provision of specimen agreement between the payment account information access service provider and the client’s provider (lender, lessor, landlord, etc.).