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February 18, 2020

Konsentus, Openitio partner to support PSD2 implementation

Konsentus has partnered with Openitio to assist financial institutions comply with the PSD2 Modified Customer Interface (MCI) publishing requirements.

The move comes when the 14 March deadline in the UK is just a month away.

Both the companies agreed to support the financial institutions across the UK and Europe to comply with PSD2 regulatory requirements.

They will also work to minimise institutions’ exposure to risk and potential frauds.

Based in the UK, Openitio delivers ready to install PSD2 interface technology. Its MCI can be setup in days with no impact on existing systems.

Openitio CTO Bhupinder Saini said: “We are delighted to collaborate with Konsentus.  Our combined solutions are easy and fast to integrate with existing systems and processes.

“Financial Institutions can be compliant quickly in the Open Banking ecosystem whilst knowing their customers’ data is being protected.”

Konsentus CCO Brendan Jones said: “The combined Openitio and Konsentus offering removes any barriers to being PSD2 compliant.

“The plug and play pre-integrated solution gives financial institutions the confidence they need to continue innovating and growing their business without needing to worry about regulation and risk.”

Konsentus delivers financial institutions with real-time Third Party Provider (TPP) identity & regulatory checking services.

In November 2019, the company launched an analysis tracker to monitor the progress of Open Banking across the EEA.

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