Konsentus has become the first company to launch an API-based permission and consent management service for financial institutions (FI) in Europe to enable them comply with PSD2 open banking.
The company offers solutions to a market that is totally new as a result of PSD2. The solution is available for more than 8,500 banks, credit unions, EMIs, PIs, all offering transactional accounts that must provide open access APIs.
Konsentus issue the consent management tokens on behalf of financial institutions through a SaaS platform, enabling the FIs to comply with EU regulation and provide open banking services to their customers. FIs are only providing data to Third Party Providers (TPPs) who are regulated, and have the customers “explicit” consent to use their data.
Konsentus is a regtech company established to provide consent & preference management services to financial institutions so that they can comply with PSD2 and open banking.