Moneyou selects Konsentus for PSD2 TPP and Regulatory Capabilities

Mike Woods, CEO, Konsentus

Konsentus, a RegTech company headquartered in the UK, has 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.

Konsentus will provide Moneyou with Third Party Provider (TPP) Identity & Regulatory checking – a vital component of the PSD2 directive – and allow Moneyou to remain PSD2 and GDPR compliant by ensuring that they only provide authorised and regulated third parties with access to their customers’ transaction accounts.

Mike Woods, CEO at Konsentus: “We are delighted to deliver our services to Moneyou. As an innovative bank that prides itself on offering a simple and frictionless customer experience, Konsentus is an ideal technology platform for them. Our solution will allow Moneyou to have confidence that they can expand their services offering a consistent experience for their customers.

As a SaaS-based platform delivered via an API, Konsentus offers a plug-and-play solution that will integrate into Moneyou’s in-house digital API platform and their essential core banking functions creating a ground-breaking customer-centric banking experience. PSD2 open banking has been stated by many industry observers to be the biggest change in payments for a generation. Konsentus is working closely with industry leaders to help financial institutions comply with their PSD2 obligations by the 14th September mandates.

Theo van Bon, Moneyou: “We strive to incorporate the latest technology and solutions in a smart way to ensure we offer a first class digital banking experience to our customers. Konsentus supports us in ensuring we protect our customers in line with the PSD2 open banking directive, as we continue to evolve our products and services. Any time our Moneyou customers access and use their accounts they can do so with complete confidence that the regulatory status of any third- party payment service providers accessing their accounts has been checked by Konsentus.”

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