Investment app Peaks joins forces with International Card Services (ICS), market leader in issuing credit cards in the Netherlands.
As a result, Peaks customers will soon be able to make use of the well-known round up feature, not only on the basis of their bank payments, but also on the basis of their ICS credit card transactions. With this feature, a Peaks customer can authorize Peaks to retrieve their own credit card transaction data from ICS and then use it to determine the 'change' and add this to their Peaks account. The app, which allows its users to easily arrange rounding up digital transactions ('round ups'), encourages people to build up a nest egg for later in an easy way.
With this collaboration Peaks and ICS endorse their focus on innovation and the future. The financial parties are the first in the Netherlands to work together in order to anticipate the implementation of Payment Services Directive 2 (PDS2).
ICS and Peaks are ahead of PSD2
Currently, the Dutch government is implementing PSD2 into national legislation, a process that has suffered considerable delays. When PSD2 is implemented, European banks are obliged to share transaction data with other companies at the request of their customers. The aim of the new European legislation is to encourage new innovative services and to make the financial sector more competitive. Peaks and ICS are proud of this collaboration. Sijbrand Tieleman, co-founder of Peaks: "We are very happy to start now and to not wait for the formal implementation of PSD2. Many of our customers are keen to use our round up feature, and do not want to wait for PSD2 to enter into force. With this important step in the run-up to PSD2, our customers are the first to benefit from the opportunities that this new legislation can offer them."
Innovation is of great importance
Maurice Koot, CEO ICS: "We strongly recommend to anticipate on innovations in the financial world. As a result, our customers are always at the forefront and can make use of the new possibilities offered by the new directive.” Even now, by being the first financial party anticipating on PSD2, Peaks and ICS lead the way. Until now, the round up feature of Peaks was only available to Rabobank account holders. Now users of the Peaks app with an ICS credit card can also use this feature.