Feb 17, 2020
PSD2 technology platform and interface provider, Openitio, partners with identity and regulatory checking solution provider Konsentus to offer Financial Institutions a quick and easy way to comply with PSD2 MCI publishing requirements, and the imminent March 14 deadline in UK.
London headquartered Openitio delivers ready to install PSD2 interface technology as required under the PSD2 regulation. Their Modified Customer Interface (MCI) can be configured with no impact or dependency on existing systems, and setup in days.
Konsentus is the only SaaS solution in the market providing Financial Institutions with real-time Third Party Provider (TPP) identity & regulatory checking services. Konsentus consolidates data across 70+ Qualified Trust Service Providers (QTSPs), 31 National Competent Authorities (NCAs) and EBA Registers, providing it in real-time to Financial Institutions through a simple cloud-based API. This enables Financial Institutions to ensure they only ever give known and regulated TPPs access to end user accounts.
Together Openitio and Konsentus offer Financial Institutions across the UK and Europe a simple, quick and easy way to comply with PSD2 regulatory requirements whilst also ensuring they are reducing their exposure to risk and potential fraud.
Brendan Jones, CCO Konsentus said “The combined Openitio and Konsentus offering removes any barriers to being PSD2 compliant. The plug and play pre-integrated solution gives Financial Institutions the confidence they need to continue innovating and growing their business without needing to worry about regulation and risk”.
Bhupinder Saini, CTO Openitio said “We are delighted to collaborate with Konsentus. Our combined solutions are easy and fast to integrate with existing systems and processes. Financial Institutions can be compliant quickly in the Open Banking ecosystem whilst knowing their customers’ data is being protected.”
Konsentus protects Financial Institutions for PSD2 Open Banking. Their Software as a Service (SaaS) solution consolidates data from a multitude of databases and registers, deploying the information to their customers in real-time enabling them to comply with PSD2 Open Banking access to accounts. Issued through simple cloud-based RESTful APIs, the easy to implement service helps Financial Institutions reduce risk, limit liability and fight fraud by ensuring data is only ever given to legitimate and regulated Third-Party Providers (TPPs).
Headquartered in the UK, with operations across Europe, Konsentus’ world-class TPP identity and regulatory checking solution gives Financial Institutions the confidence they need to grow their business whilst knowing their customers are protected and they are delivering against regulatory requirements.
+44 (0) 07437 190014
Under the PSD2 Regulatory Technical Standard (RTS), unless ASPSPs have received a specific exemption from local NCAs, they must publish a compliant interface for the PSD2 fallback, also known as a Modified Customer Interface (MCI), within applicable regulatory timelines for PSD2 which for the UK is March 14 2020.
The Openitio MCI meets all specifications for the PSD2 fallback out-of-the-box, including identification and validation of PSD2 Third Party Providers (TPPs) across the UK and Europe, and can be deployed in days, in time for UK and European deadlines.
London headquartered Openitio have deep expertise in technology platforms and interfaces that helps banks comply with obligations and compete in the Open Banking and Open API-centric world.
+44 7588 824941