Konsentus launches Open Finance solution

Thursday 1 July 2021 09:13 CET | News

Konsentus has announced that it has expanded its product range to help accelerate the digital transformation journey from Open Banking to Open Finance.

Konsentus Verify, an Open Banking fraud and risk management service, is ready to support Open Finance. The company has responded against a backdrop of increasing risk and fraud concerns, brought about by the expanding Open Data economy, to enable Konsentus Verify to validate Open Finance participants – both regulated and non-regulated organisations. 

In addition to checking EU and UK regulated payment service providers, Konsentus Verify can validate data from Open Finance schemes, premium (API) schemes, and trusted organisations.

The technology solution has been built to adapt and scale in response to the complex and changing regulatory landscape. Konsentus Verify for Open Finance brings together disparate data from regulated and non-regulated sources into a single platform. This enables a financial institution to verify in real-time the identity and current authorisation status of a third party through a single interface, regardless of the authorisation scheme. 

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Keywords: Open Banking, Open Finance, Open Data Economy, product launch, Konsentus
Categories: Banking & Fintech
Countries: United Kingdom
This article is part of category

Banking & Fintech