Feb 14, 2018
The First API Based Permission and Consent Management Solution enabling Financial Institutions to meet PSD2 open banking requirements
Konsentus, a RegTech company was launched today by three payment industry veterans:
Konsentus is the first company to launch an API based permission and consent management service for Financial Institutions in Europe to enable them comply with PSD2 Open Banking. With some 8,500+ regulated companies offering transaction accounts in Europe the demand for a simple service enabling companies offering their own APIs to ‘Third Party Providers’ to effectively and cheaply be able to outsource the regulatory burden of access of permission management.
Mike Woods, Founder and CEO of Konsentus stated
“After all my years in the industry it is great to be launching a company that is truly unique in its offering to a market opportunity that in itself is totally new as a result of PSD2. With over 8,500 Banks, Credit Unions, EMIs, PIs all offering transactional accounts that must provide open access APIs we believe the opportunity for a solution like ours to support these organisations, removing their regulatory burden is very significant.”
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, 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.