Ontario-based Carta Worldwide, the transaction processing solutions provider, has partnered up Konsentus, the identity and regulatory checking services. The partnership will help ensure Carta Worldwide’s clients are compliant with EU’s Revised Payment Service Directive (PSD2).
Speaking of the deal, Mike Woods, CEO of Konsentus, said Carta Worldwide can now “confidently offer their clients a reliable, fast and scalable solution to ensure they are compliant with PSD2 open banking.”
It’s been a hectic few months for Konsentus. The company signed several new partnerships in the first half of 2019. For instance, it entered a strategic partnership with Token.io, the SaaS-based PSD2 API provider in March as well as with seven other companies.
Additionally, Konsentus signed on Dutch bank ABN AMRO subsidiary Moneyou as a client in June. Konsentus also announced it would support Fidor Bank with PSD2 compliance at the end of June.
The British company also netted a pre-Series A round led by Mastercard in June. However, the amount of the funding round remained undisclosed.
The business seemed to continue in July. Not only has it now signed the deal with Carta Worldwide by also released an eIDAS checking service. Again, this was to better support companies to comply with PSD2.
The European legislation will open up the retail banking market. The Revised Payment Service Directive will mean banks no longer have a monopoly on their customers’ account information. Now, other companies will also be able to get access to customers’ data.
The final parts of PSD2 will be implemented in September 2019. However, not every developer is ready for this, according to research from Tink, the API developer. It warned in in early July that none of the bank APIs it had tested so far lived up to the standard set out by PSD2.
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