With PSD2’s Regulatory Technical Standards (RTS) deadline passed, European FIs are under pressure to move quickly to deliver open APIs for testing. The Token and Konsentus partnership enables FIs to fast-track PSD2 compliance by connecting to a managed combination of two open banking technology platforms.
By connecting banks and FIs to its SaaS PSD2 API, Token can provide the functionality required by the RTS including readiness for external testing and readiness for full production by 14th September. Konsentus’ SaaS platform simultaneously conducts automated checking and verification of TPPs that are requesting data and payment access to banks.
Maximising their open banking connectivity and turning regulatory due diligence into a market differentiator will enable FIs to establish a competitive advantage in open banking, as well as establishing PSD2 compliance in the shortest possible timeframe.
The combined solution is based on TokenOS which delivers open APIs and programmable money technology, with the operational support, consent management, monitoring and reporting required to achieve compliance and develop new value-added services.
Konsentus provides fully automated (TPP) identity and regulatory checking services that ensure FIs only provide payment initiation and account information data to regulated TPPs which have demonstrably secured their customers’ consent.
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