Account Information Services
Using AIS may also reduce the time taken to process loan applications.
AIS is a free and optional service provided to Blarney Credit Union members, by an independent third-party provider, Truelayer Provider (AISP) to enhance the loan application process. Truelayer (Ireland) Limited is registered as an Account Information Service Provider (AISP) with the Central Bank of Ireland (Institution code C433487). Their privacy policy is available here.
This document explains the AIS process.
If you consent to using AIS to supply bank account information and wish to proceed, we will provide instructions by e-mail, including a link to the portal of the Account Information Services Provider ('AISP') that will enable you to initiate the AIS process.
If you do not consent to using AIS to supply bank account information, you can:
- Provide paper bank statements to us.
- Send bank statements to us by e-mail.
- Upload bank statements (when making an on-line loan application).
Truelayer (Ireland) Limited is registered as an Account Information Service Provider (AISP) with the Central Bank of Ireland (Institution code C433487).
Frequently Asked Questions
The revised Payment Services Directive (PSD2) is a piece of EU legislation which entered into force in 2015. Among the primary objectives of PSD2 were:
- To protect consumers.
- To give people and small businesses the ability and choice to safely and securely share their financial data in order to get access to better financial services and products.
Being an AISP (Account Information Service Provider) means that a company can ask an individual or business for authorisation to connect to a bank account and use that bank account information to provide a service.
The service provided by an AISP is a regulated payment service.
Businesses who are AISPs are authorised to access bank account information on a ‘read only’ basis. This means that the AISP has access to the account information but will never be able to complete any transactions on your bank account.
Truelayer (Ireland) Limited is the AISP used by the Credit Union to enable Members to provide bank account information digitally, in support of loan applications. Truelayer (Ireland) Limited is registered as an Account Information Service Provider (AISP) with the Central Bank of Ireland (Institution code C433487).
If an AISP is registered in any EU member state, it can provide Account information Services (AIS) to consumers and businesses in any EU member state.
This document explains how the overall process works.
This service eliminates the effort of collecting, printing and returning bank statements to the Credit Union. Instead, your bank account information is transferred electronically to the Credit Union on your behalf (but only when you give authorisation to do so).
Your bank account data will only be used for the purpose of assessing your loan application to the Credit Union.
Truelayer (Ireland) Limited will access your account data only once (immediately after you have given authorisation).
Truelayer (Ireland) Limited will hold your bank account information on their systems for a maximum of one hour after accessing your bank account. After which, your bank account information will be deleted by Truelayer (Ireland) Limited on their systems.
Truelayer (Ireland) Limited will share your bank account information with the Credit Union (after authorisation by you) via the cloud-based loan application assessment system used by the Credit Union.
Truelayer (Ireland) Limited and Blarney Credit Union Limited are two separate Data Controllers. Where Truelayer (Ireland) Limited shares bank account information with Blarney Credit Union Limited it is based on implied consent by proceeding with AIS via Truelayer (Ireland) Limited during the bank account information retrieval process to facilitate the loan application process, when you the member authorise Truelayer (Ireland) to do so.
Truelayer (Ireland) Limited and Blarney Credit Union Limited are two separate Data Controllers, therefore the Member will be able to access their rights separately with each entity. Blarney Credit Union Limited’s privacy notice is available here. Truelayer (Ireland) Limited’s privacy policy is available here.
No, this is a new optional service offering directly for our members by Truelayer (Ireland) Limited to reduce the time taken to process loan applications and to enhance the loan application process.
As a Member, this optional service is available to you directly at no extra cost.
