White Papers

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QTSP service offering

Jul 12, 2019

When a QTSP receives a PSD2 qualified certificate request from a PSP, it is required to perform an identity validation as described in its certificate policy, and verify the PSP’s PSD2 specific attributes using information available on the PSP’s Home NCA public register. When all the checks have been completed successfully, the QTSP issues the qualified certificate(s) in a compliant format.  In this white paper we explore how Konsentus can significantly simplify the regulatory checking process for QTSPs issuing PSD2 QWACs and QSealCs.

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Are there challenges using the EBA register for TPP checking?

Jun 19, 2019

By 14th September 2019, over 9,000 FIs in Europe must comply with ‘Open Banking’ under PSD2’s Regulatory Technical Standards (RTS). This means a FI cannot deny access to a Third-Party Provider (TPP) if they are appropriately regulated; but how do they know this and that the TPP is who it says it is?  This white paper takes a look at the European Banking Authority register and whether there are challenges using it for TPP checking?

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Are eIDAS certificates sufficient for PSD2 Open Banking?

Jun 17, 2019

At the European Banking Authority (EBA) Working Group on APIs under PSD2, a number of market participants raised concerns that there could be a potential mismatch, particularly in the case of a revoked authorisation, between the information contained in the eIDAS PSD2 certificate and the information contained on the EBA and national registers. They highlighted the risk of Financial Institutions (ASPSPs) sharing information with parties no longer authorised by National Competent Authorities (NCAs) but with active eIDAS certificates.  This white paper explores the challenges these financial institutions face and why an on-line, real-time consolidated view of the different existing data sources can provide Financial Institutions with the solution. 

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PSD2 Open Banking for Financial Institutions

Feb 1, 2019

In January 2018 the European Union Payment Services Directive (PSD2) came into force. End users will have a legal right to share their personal transactional account data from their financial institution with regulated third parties to enable better financial outcomes.Financial Institutions (FI) must  provide regulated third parties (TPPs) access to end user transactional account data. This White Paper sets out what FIs need to consider to comply with the European Union Payment Services Directive (PSD2). 

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PSD2 open banking for Programme Managers

Sep 7, 2018

Nearly all BIN Sponsors in Europe have indicated they will push the regulatory responsibility for complying to the PSD2 open banking requirements down to their Programme Managers and many are self issuers i.e. they are a direct scheme member themselves and thus will need to comply. The white paper outlines what they need to consider after all either API, or API with Fallback, or Dedicated Interface must be available to the same ‘up time’ as other online channels e.g. web/app. 

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PSD2 open banking Glossary

May 28, 2018

PSD2 open banking has created more acronyms than probably any piece of regulation.  Do you know your AIS from your XS2A and your ASPSP from your QTSP.  This quick and easy glossary will ensure you know every three or even four letter acronym you might be quorted.

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Identifying an Approved TPP

May 13, 2018

A key part of PSD2 open banking is that ASPSPs, or as they are more generically called Financial Institutions, must be able to have confidence in who they are giving Payment Service Users’ data too.  But how easy is this, with eIDAS certificates, Scheme Regulatory Databases, National Competent Authority Databases and the coming EBA database.  This short White Paper explains how things will work or might work.

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PSD2 open banking: The Ticking Timebomb for Financial Institutions

Apr 2, 2018

The PSD2 open banking clock has started for FIs to be ready by March 2019.  In this short white paper Brendan Jones, CCO of Konsentus highlights the key points FIs need to consider.

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PSD2 open banking, Who Will Use It

Mar 18, 2018

PSD2 open banking is coming, but who will use the services in this new nirvana of data access.  In this piece Brendan Jones CCO of Konsentus outlines the different types of services we are likely to see use PSD2 open banking access.

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Open Banking is Not Just for Banks

Mar 11, 2018

Open Banking is not just for banks and the EU PSD2 open access effects a wide range of what are deemed transactional accounts.  This short white paper clearly outlines if your business is effected and will have to comply with the new regulations.

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The World of Open Banking

Feb 21, 2018

Open banking is not just for Europe, although many of us sitting in Europe probably think it is.  Many other markets around the world have been noticing what Europe is up to and other countries and regions are also looking to adopt similar principles with the ultimate view of delivering better customer financial outcomes.

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