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EU-wide internet banking application for managing more accounts from multiple banks in one place

Project description

New EU-wide application to link multiple bank accounts

Contributing to a more integrated and efficient European payments market, the EU revised Payment Services Directive (PSD2) aims to level the playing field for payment service providers. This new regulation, which opens the EU payments market to third-party payment service providers, obliges all banks in the European Union, Iceland, Liechtenstein and Norway to provide licensed third parties access to client data when requested. However, the banks provide data in different formats. To resolve this, the EU-funded EVERIFIN project will create an EU-wide internet banking application that links all banks in the EU to EVERIFIN to manage accounts from multiple banks in one place. The aim is to unify the fragmented European market.


Everifin is an EU-wide internet banking application offering non-discriminative way to use banking services from multiple banks at the same time independent from citizenship in the EU member state. This is possible thanks to the new European regulation called PSD2. The regulation comes into full force in September 2019 and obliges all banks in the EU, Liechtenstein, Norway and Iceland to give licensed 3rd parties access to client data if the client asks for it. The licenses are issued by a local regulator and can be transferred to any member state.
The challenge is that the customer data which banks provide, are all in different formats. Therefore, we have built a unique solution which brings all data into one standard. We can link all banks in the EU to Everifin and unify fragmented European market faster than anyone ever before. On top of the basic multi-banking functionality, we plan to deliver new disruptive financial services: eBills, instant payments and credit checks and, to name a few.
We have already conducted a market research with real users and measured the size of the market opportunity of multi-banking and eBills. It is clear that these services are highly demanded and people are ready to pay for them. Our corporate partners are excited about the fully electronic invoicing solution - the eBills. They can significantly reduce the costs of printing and delivering invoices, while achieving 50% reduction of overdue payments. This means they spend less on sending reminders and because their customers receive eBills directly in the internet banking, the number of typing mistakes drops dramatically as well.
In November 2019, Everifin received an investment from a Business Angel and took leaps forward in building the final product, ready to be launched at the end of 2019. Additional funding from SME instrument Phase 1 will help us to prepare the feasibility study and expand our business plan for the next features: instant payments and credit checks.

Call for proposal


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Net EU contribution
€ 50 000,00
Mikoviniho 8
91701 Trnava

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The organization defined itself as SME (small and medium-sized enterprise) at the time the Grant Agreement was signed.

Slovensko Západné Slovensko Trnavský kraj
Activity type
Private for-profit entities (excluding Higher or Secondary Education Establishments)
Other funding
€ 21 429,00