Konsentus expands its presence in North Africa and the Middle East

Wednesday 25 January 2023 14:59 CET | News

UK-based open ecosystem regtech provider Konsentus has established its MENA regional base in the Kingdom of Saudi Arabia.


With this new regional base, the company aims to provide open data infrastructure and technology services to regulators and financial services providers in Saudi Arabia and its surrounding territories. Konsentus has been working closely with local stakeholders across the region over the last few years in order to facilitate the evaluation and introduction of protected open ecosystems. 

According to the company press release, in order to be able to introduce open data exchange in any MENA country, entities should first implement a secure platform comprising the control and governance of in-country policy and rules. This platform would then ensure that data providers and data recipients could interact with each other in a seamless fashion. 

In this case, the Konsentus Open Trust Platform (OTP) was designed to allow countries to implement safe and secure open ecosystems in a quick and easy way by leveraging end-to-end rules, processes, technology, and tools. Konsentus officials have stated in the company press release that there is a great opportunity to expand the company’s services in the MENA region, particularly in the context of the region’s current digital transformation efforts.


UK-based open ecosystem regtech provider Konsentus has established its MENA regional base in the Kingdom of Saudi Arabia.


Other developments from Konsentus

In May 2022, UK-based EMI Jeton has selected Konsentus Verify to protect its customers from unauthorised third parties gaining access to valuable account data and funds. Konsentus Verify is an infrastructure platform that was designed to allow financial institutions to transact safely and securely within the Open Banking and Open Finance ecosystems. 

Verify checks a third party’s identity and regulatory status each time it attempts to access a financial institution’s Open Banking API. 

In June 2022, Enfuce has also partnered Konsentus in order to leverage its Verify system. Enfuce provides a flexible, scalable, Open Banking service that is both safe and compliant. Their embedded payment experience delivers the features and products that their customers want within a secure environment. 

Konsentus is an ISO 27001-certified company that promotes trust in open ecosystems by enabling participants to interact with each other in a safe manner.  The company’s SaaS technology solutions provide a protected environment for data and funds to be exchanged in an automated way. The company has established a presence in Europe, Latin America, MENA and Southeast Asia.

For more information about Konsentus, please check out their detailed profile in our dedicated, industry-specific Company Database.

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Keywords: regtech, Open Banking, Open Finance, expansion
Categories: Banking & Fintech
Companies: Konsentus
Countries: Saudi Arabia
This article is part of category

Banking & Fintech


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