Konsentus expands product range to boost digital transformation

By Megha Bhattacharya

Konsentus announced that it has expanded its product range to help accelerate the digital transformation journey from open banking to open finance. Konsentus Verify, the open banking fraud and risk management service, is ready to support open finance. In addition to checking EU and UK regulated payment service providers, Konsentus Verify has been enabled to validate data from open finance schemes, premium (API) schemes, and trusted organisations to enable safe and secure access to data and payment services.

Mike Woods, CEO, Konsentus, commented: “In just six months since the acquisition of Open Banking Europe from PRETA, we have consolidated our collective market knowledge and capabilities to launch a number of solutions into the market that will really unlock the value of open banking and open finance. Our fast-growing customer base, which now spans 23 countries, has helped us shape these new solutions and we are excited by the opportunity of being able to deploy them in other international markets into which we are expanding.

The extended capabilities of Konsentus Verify, a component of the Open Banking Hub, and the Konsentus Transparency directory ensure that as the regulation changes, transparency in the ecosystem alongside trusted identity and authorisation checking can continue to take place without new systems and process being required.”

To provide visibility of all ecosystem participants, the services they offer and to facilitate open communication, Konsentus has established the Konsentus Transparency Directory. The Directory brings together developer portals, API information and communication details into a single, searchable service comprising Financial Institution Data: Technical and contact details of bank Developer Portals and their APIs and FinTech Data: Legal, commercial, and communication details of third parties offering open banking services.