UK, 20 June, 2019: Konsentus today announced that the innovative online bank Moneyou, a subsidiary of ABN AMRO, with over 500,000 customers in the Netherlands, Germany, Belgium and Austria, has selected Konsentus to support the roll-out of their PSD2 open banking offerings.
Konsentus will provide Moneyou with Third Party Provider (TPP) Identity & Regulatory checking – a vital component of the PSD2 directive – and allow Moneyou to remain PSD2 and GDPR compliant by ensuring that they only provide authorised and regulated third parties with access to their customers’ transaction accounts.
As a SaaS-based platform delivered via an API, Konsentus offers a plug-and-play solution that will integrate into Moneyou’s in-house digital API platform and their essential core banking functions creating a ground-breaking customer-centric banking experience.
PSD2 open banking has been stated by many industry observers to be the biggest change in payments for a generation. Konsentus is working closely with industry leaders to help financial institutions comply with their PSD2 obligations by the 14th September mandates.
About Konsentus: Konsentus is a RegTech company that was established to provide Identity & Regulatory checking services to Financial Institutions so that they can comply with PSD2 and open banking. Issued through a SaaS based platform it enables Financial Institutions (ASPSPs) to comply with EU regulation on PSD2 Open Banking 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 customers’ “explicit” consent to use their data.
Headquartered in the UK, Konsentus is creating a world class solution for every Financial Institution in Europe. This is being delivered through utilising the best in open standards, coupled with unique solutions and most of all a belief that they can deliver for clients a cost-effective solution to their regulatory requirements.