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Fiorano partners with Konsentus to lower costs and risks associated with PSD2 compliance

Fiorano Software, a leading Enterprise Middleware, Integration and API Management specialist, announced today that it has added Third Party Provider (TPP) Identity & Regulatory checking services.

Fiorano Software, a leading Enterprise Middleware, Integration and API Management specialist, announced today that it has added Third Party Provider (TPP) Identity & Regulatory checking services from Konsentus, a UK based Regtech company providing live SaaS-based APIs to check TPP identity & regulatory status, to its ready-to-deploy PSD2 platform to provide enhanced support to Financial Institutions (FIs) working towards PSD2 compliance.

“Having recently launched the Fiorano PSD2 Accelerator, which is designed to provide FIs (ASPSPs in PSD2 terms) with the technology required to meet PSD2 open banking regulatory obligations as a pre-integrated bundle, we are delighted to be able to offer our customers a unique solution to solve their specific challenges around TPP identity and regulatory checking.”

-Biju Suresh Babu, Global Open Banking lead, Fiorano/span>

Whilst the first major deadline passed on 14th March, whereby FIs had to make their ASPSP interfaces available for external testing, the next major PSD2 deadline is 14th September 2019 by when FIs must demonstrate the effective application of all EBA Technology mandates, including X2SA, SCA and CSC.

“Our combined technology solution provides customers with a clear route to PSD2 compliance, which is faster, cost effective and carries reduced risks.  Ultimately our aim is to help clients fulfil their complete PSD2 obligations with full confidence by the September deadline.”

–  Brendan Jones, Chief Commercial Officer, Konsentus

Together, Mastercard and Konsentus are keen to ensure Financial Institutions have access to the right tools not only to meet their regulatory obligations, but also to enable them to realise the full potential of the open banking opportunity, whilst fully addressing their customers’ growing needs and expectations.

About Konsentus

Konsentus is a RegTech company that was established to provide consent & preference management services to financial institutions so that they can comply with PSD2 and open banking. Konsentus issue the consent management tokens on behalf of financial institutions through a SaaS platform, enabling them to comply with EU regulation and provide open banking services to their customers, confident in the knowledge that they are only providing data to Third Party Providers (TPPs) who are regulated, and have the customers “explicit” consent to use their data.

The company was founded by three Financial Service industry veterans seeking to deliver a simple and easy way FIs can comply with the new PSD2 regulations for open access.

Headquartered in the UK, just outside of London our team of professionals are creating a world class solution for every FI in Europe. We are delivering this through utilizing the best in open standards, coupled with unique solutions and most of all a belief that we can deliver for clients a cost-effective solution to their regulatory requirements.

About Fiorano

Fiorano Software, a Silicon Valley USA (California, 1995) based Corporation is a provider of Enterprise Integration Middleware, high performance messaging and peer-to-peer distributed systems. Fiorano operates through its worldwide offices and a global network of technology partners and value-added resellers. Global companies including NASA, AT&T Wireless, Federal Bank, Rabobank, Bank of Kigali, Commercial Bank of Africa, Canadia Bank, IG Index and the NHS have deployed Fiorano to drive innovation through open, standards-based, event-driven, real-time solutions yielding unprecedented productivity.