Identity and regulatory checking service provider Konsentus has signed seven new partners to its third-party provider (TPP) platform.
March 14 is the deadline for financial institutions across Europe to have PSD2 open banking APIs live for external testing. In an email from the FCA, Konsentus claims the regulator has stated firms must ensure technical specifications around their access interfaces and testing facilities for TPPs are ready by this date.
These seven new clients will use Konsentus’ TPP Identity & Regulatory checking platform to meet their open banking requirements and begin testing. The new strategic partners are Epiphany Srl, Fiorano, Forgerock, Paymentology, PSI-Pay, Transact payments, and Tribe.
Earlier in the year, the RegTech startup formed a strategic partnership with Mastercard which gave the card issuer access to new open banking services. The new solutions, which are included in the TPP solution, enables Mastercard to ensure companies seeking customer data are legitimate, fraud monitoring tools, and access a communications hub of banks and TPPs.
Konsentus chief commercial officer Brendan Jones said, “With a live production environment, as well as sandbox and swagger documentation, we have everything in place to quickly support Financial Institutions as they look to comply with PSD2 open banking requirements.”
UK-headquartered Konsentus provides financial institutions with identity and regulatory checking services to aid their PSD2 and open banking compliance processes. The SaaS-based platform provides real-time validation of TPPs and every time one requests access to a financial institution, Konsentus checks its regulated status and advises the FI.
Late last year, electronic payments and card solutions platform Transact Payments formed a deal with Konsentus to access the open banking solution.
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