DenizBank AG chooses Konsentus for risk-free Open Banking operations

As the bank further expands into Germany and Austria, it identified the need for a secure and cost-effective infrastructure that aligns with its business processes and meets regulatory requirements. By leveraging Konsentus Verify, it aims to automate the complex process of TPP validation, supporting retail and commercial banking products, and ensuring stronger compliance, operational efficiency, and security.

Improving Open Banking operations

Konsentus Verify is a solution that offers real-time, standardised data on regulated entities across the EEA, allowing financial institutions to eliminate the risk of having external data sources or unauthorised TPPs access to customer account data and funds. This enables banks like DenizBank AG to minimise operational overhead while focusing on a better and safer customer experience.

DenizBank AG chose Konsentus Verify as it stood out as a solution that delivered compliance and risk mitigation, and aligned with the bank’s mission and internal operations. Konsentus was fast to implement, cost-effective, and capable of adapting to regulatory developments and changes such as PSD3 and FiDA.

DenizBank AG is committed to offering improved, modern, and secure digital banking services and experiences for its customers in Germany and Austria. Konsentus aims to support the bank in its endeavours by enabling it to deliver compliant Open Banking services. Its platform is designed to scale with its clients’ demands and needs, helping them meet regulatory requirements while staying ahead of challenges and developments.

This collaboration reflects DenizBank AG’s dedication to future-proofing its operations with technology that supports sustainable growth, regulatory readiness and operational resilience. The bank is subject to the Austrian Banking Act, a member of the statutory uniform deposit protection scheme AUSTRIA GmbH, and is part of the DenizBank Financial Services Group.