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Konsentus Verify

Our simple plug-and-play solution, Konsentus Verify, consolidates data using TPP identity and regulatory checks of registered TPPs across the EEA. We then provide this to our customers in real-time via an API.

This empowers our customers to protect Payment Service User (PSU) data and, at the same time, protect their own brand, reputation and business from fraud and financial risk.

Our software-as-a-service (SaaS) solution for identity checking of TPPs means that our customers don’t have to design, build, test and maintain their own capability in-house. This saves them time, cost, effort, the need for on-going maintenance and upkeep and, having to understand the complexities of the data.

Who we work with

Financial Institutions
API Aggregators
Technology Service Providers

Our award-winning solution

Konsentus Verify enables Financial Institutions to better protect their customers’ data.

Validate

We identify and validate that Third Party Providers are who they say they are

Confirm

We confirm that Third Party Providers are regulated to provide the services they are requesting

Record

We maintain an immutable log to provide support and evidence for dispute management processing

Validate

We identify and validate that TPPs are who they say they are. This is complex, detailed and requires much more than technical ‘know-how’.

Problem

TPPs identify themselves to Financial Institutions through eIDAS certificates. There are over 70 Qualified Trust Service Providers (QTSPs) who can issue eIDAS certificates. Not all QTSPs however can issue PSD2 eIDAS certificates.

There are also complexities with using these certificates as a means of identifying TPPs. Challenges include knowing whether a certificate has been issued by a QTSP entitled to issue certificates for PSD2 Open Banking and understanding when and if a certificate has been invalidated. Different TPP ID schemes exist across the EEA presenting additional problems.

Konsentus solution

Konsentus is able to identify a TPP by its eIDAS certificate as required under PSD2. We can do this regardless of which QTSP has issued the certificate, where it has been issued and the format of the TPP identity information. We are able to tell whether a certificate has been revoked by a QTSP, has a valid signature chain and we can spot any inconsistencies or mis-matching of TPP identity data.

Confirm

We confirm that Third Party Providers are regulated to provide the services they are requesting.

Again, this sounds simple. But there’s always a gap between regulation and reality. Between theory and practice.

Problem

Each National Competent Authority maintains its own register of third parties. That’s 115+ registers across 31 EEA countries in all. These registers are all in different formats and the content constantly changes. Regulated TPPs can be added, removed or have their status changed at any time.

The European Banking Authority (EBA) provides central registers but is not responsible for updating or maintaining them. The NCAs are responsible for maintaining their data on the central registers. Therefore, as the central data is not automatically updated when a change occurs, the data within it is for transparency purposes and should not be relied upon for decision-making.

Konsentus solution

Konsentus sources data hourly directly from the National Competent Authorities (NCAs) registers, the official systems of record. This information is supplemented with data from the EBA registers to form a single, consolidated view which powers our solution.

By providing Financial Institutions with the latest available regulatory information, they are able to make better real-time decisions and protect their customers’ data, secure in the knowledge that the information provided by Konsentus is warranted for its accuracy.

Record

We maintain an immutable log to provide support and evidence for fraud and dispute management processing.  Financial Institutions can be confident they can always access historical data to investigate and resolves disputes.

Problem

Financial Institutions cannot refuse to share data with regulated Third Party Providers if the customer has given their explicit consent. Yet they are also responsible for resolving any disputes or fraud rising from data they have shared.

Konsentus solution

Konsentus maintains an immutable audit log of all transaction API calls to and from our customers. This helps Financial Institutions resolve disputes with TPPs and their customers.

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On completion of this form you will be sharing your personal data with Konsentus Ltd (company number 1115059) (“Konsentus”/”we”/”us”). We will process such information for the purposes of sending you marketing communications and information which we consider may be of interest to you from time to time. This may include sending information by email, or us contacting you by telephone, where relevant details are provided. We rely on our legitimate interests as the lawful basis for processing your data in this way. Under certain circumstances, you have rights under data protection laws in relation to your personal data, including the right to receive a copy of the data we hold about you. You also have the right to opt out of marketing communications at any time by contacting us at insights@konsentus.com. For further information on how Konsentus and its partners will process your data, and your rights in relation to your data, please click here.

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