Konsentus partners with Openitio to help FIs meet PSD2 compliance

Identity and regulatory checking platform Konsentus has partnered with PSD2 technology platform Openitio to provide financial institutions with easier compliance.

Openito, which is based in London, offers PSD2 technology which is ready to install with existing infrastructure. As part of the second payments services directive, account servicing payment service providers (ASPSPs) will be required to publish an interface for PSD2 fallback which is known as modified customer interface (MCI).

These systems, which need to be implemented by March 10 2020, will enable third-party providers (TPPs) the ability to identify themselves towards an ASPSP.

Following this partnership, financial institutions in the UK and Europe will be able to comply quickly with the new requirements.

Konsentus is an identity and regulatory checking service provider which enables financial institutions to validate TPPs in real-time, meeting PSD2 compliance.

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.”

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