Omnio, Token.io partner to give FIs improved open banking services and PSD2 compliance

Digital banking platform Omnio Group has partnered with Token.io to give its financial institution customers access to open banking services and PSD2 compliance.

Omnio is a digital banking platform which supplies over 300 companies with banking and payment processes. Its platform helps financial institutions to implement a range of digital financial services including current accounts, saving, loans, mortgage accounts, payments, payroll, corporate expenses, and compensation payouts, among others.

The first client of Omnio which is taking advantage of the new Token.io partnership is An Post, an Irish postal, retail and financial service provider.

Through the new service, An Post will have access to any regulated third-party provider in Europe. It also gains crypto-based security and programmable money, operational support, consent management, monitoring and reporting support.

Omnio Group director of implementation and delivery Rob Liddell said, “Token has enabled us to provide our clients with a PSD2 Open Banking Hub, which delivers secure connectivity between third parties and financial institutions. Our next step is to work with Token to create innovative banking and payment experiences that meet the evolving needs of our digital customers.”

Token is a single API developer which aims to support banks and third-parties with PSD2 compliance. The platform enables both players to connect and build bank direct payment methods and data aggregation solution for customers.

This is just the latest partnership in a long string for Token this year alone. Earlier in the month, the company formed a deal with Khaleeji Commercial Bank to support the institution with its open banking services and meet new regulatory requirements in Bahrain.

The company also recently signed an agreement with fellow RegTech company Konsentus in a bid to help financial institutions accelerating their PSD2 compliance.

Other recent partnerships include integrations with thinkmoney, Tandem Bank.