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Konsentus helps financial institutions be PSD2 Open Banking compliant.

 

Issued through a SaaS based platform, the Konsentus Identity & Regulatory checking solution enables Financial Institutions to provide Open Banking services to their customers, confident in the knowledge that they are only providing data to Third Party Providers who are regulated and have customers’ "explicit" consent to use their data.

 

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About Konsentus

Konsentus is a RegTech company helping Financial Institutions comply with PSD2 Open Banking. We enable our clients to ensure they’re only providing data to regulated and known entities. We provide secure, cost effective, mission critical services that are highly scalable. The service is based on RESTful APIs, enabling rapid deployment.

Our solution is easy and quick to implement. From request for sandbox testing, we enable our clients to go into full production operations in less than one week, have a 99.5% up-time SLA, checking of databases within the hour.

We consolidate data across 31 National Competent Authorities working with the EBA Register and 70+ Quality Trust Service Providers (QTSPs) to ensure Financial Institutions never provide data to unregulated Third Party Providers.

  • Easy to integrate: RESTful APIs remove the need for clients to integrate with multiple databases
  • Quick to deploy: Dedicated SaaS solution quickly and easily deployed  
  • High performance: Cloud based, providing scalability, throughput and elasticity
  • Reliable: Resilient system design with maximum availability and fault tolerant
  • Reduces risk: Real-time identity & regulatory checking

Features

Identity checking: Konsentus validates a third party provider’s eIDAS certificate(s) in real-time via the relevant Qualified Trust Service Provider (QTSP). This gives the financial institution confidence that the TPP connecting to its Open Banking API is a PSD2 registered service provider.

 

Regulatory checking: Konsentus holds a register of all regulated entities across the EEA. Every time a TPP attempts to access an FI’s Open Banking API, Konsentus checks in real-time the TPP’s status & the services it can provide. If there is a change, this is reflected within Konsentus’ database within 1 hour.

Token issuance & Verification:
For certain Open Banking services, PSD2 schema requires financial institutions to issue OAuth2.0 access tokens to TPPs. Konsentus provides real-time issuance, checking & validation, and life-cycle management of Access Tokens issued on behalf of the financial institution.

Immutable log: provides ASPSP with a system of record of all activity and actions that can be presented to a regulator if a dispute arises.

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