Mike Woods, CEO, Konsentus

Fidor Solutions, the subsidiary of Fidor Bank, has selected RegTech provider Konsentus in a bid to bolster its PSD2 open banking offering roll-out. The partnership will see Konsentus’ Third Party Providers (TPPs) be integrated into Fidor’s API digital banking platform, fidorOS (fOS), in an attempt to provide PSD2 and open banking compliant solutions. Fidor Bank will utilize TPPs Identity & Regulatory Checking.

Dr Michael Maier, CEO at Fidor Solutions stated: “One of Fidor’s key value propositions is to provide a frictionless banking experience, and Konsentus supports us in delivering on this promise. As we roll out new services to our digital banking customers in line with the PDS2 open banking directive, we can do so with full confidence that Konsentus protects our customers, while allowing a wide range of third-party payment service providers to securely access their transaction accounts.”

According to the supplier, Konsentus‘ solution will ensure PSD2 and GDPR compliance for Fidor Solutions’ bank clients. Konsentus will work with the banking functions provided by Fidor Solutions’ fOS digital banking platform.

Mike Woods, CEO at Konsentus, commented: “We are delighted to deliver our services to Fidor Solutions and their bank clients. For Fidor Solutions and their B2B clients who are focused on delivering a customer-centric experience through innovation and speed, Konsentus is a great fit. Our offering will enable Fidor Solutions to quickly provide enhanced value to its clients.”

Recently, Konsentus announced that the online bank Moneyou, a subsidiary of ABN AMRO, with over 500,000 customers in the Netherlands, Germany, Belgium and Austria, has selected Konsentus to support the roll-out of their PSD2 open banking offerings.

by Megha Bhattacharya
Market Analyst at IBS Intelligence
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