You can see the rules and regulations in other jurisdictions.
An account can be accessed by a third party upon request of the customer. This was intended, inter alia, to help fintech start-ups with innovative business models that depend on such data (e.g., platforms for combining access to bank accounts held with different banks).1
Whether regulated activities are provided in fully automated form or whether an employee acts on behalf of the investment company is irrelevant for licensing purposes under the Austrian Banking Act or the Austrian Securities Supervision Act 2018. Therefore, entities that provide fully automated investment advice and portfolio management services will also need Austrian licenses.1
We work for international SMEs, startups and Telco's
Participation as a lawyer at investment venture funds, leading venture M&A deals in IT, supporting iGaming and business assets
Legal support for FinTech and Blockchain projects
