Konsentus acquires Open Banking Europe from PRETA

By Megha Bhattacharya

Konsentus said today that it has acquired Open Banking Europe S.A.S. from PRETA. Open Banking Europe will remain a separate operating entity which will continue to be led by John Broxis. The software solutions of Open Banking Europe will be directly integrated into the Konsentus business.

The Open Banking Europe (OBE) initiative, founded in 2017, aims to provide its members with a collaborative environment to identify market issues and problems, championing awareness and creating solutions via guidance, standards, and tools.

Mike Woods, CEO, Konsentus, stated, “Working with PRETA’s Open Banking Europe was an obvious next step to accelerate our European expansion and cement our position as a market leader. We are delighted to welcome the clients of PRETA OBE to Konsentus and are proud that over 500 financial institutions, including some of the biggest and most prestigious banks within Europe, will also become Konsentus clients. I am delighted that John Broxis, who was Managing Director of PRETA’s Open Banking Europe initiative, is joining the Konsentus team, which will ensure a smooth transition. In addition, his vast industry expertise will be invaluable in uniting the open banking ecosystem and global community.”

The Open Banking Europe Community is expected to complement Konsentus’ work for supporting the safe and secure exchange of financial and non-financial information between payment service providers and other market players for the benefit of the wider digital economy.

Recently, Konsentus announced that it has rolled out an international infrastructure platform for speeding up the open banking implementation process. The new international Open Banking Hub is a SaaS-based solution that aims to assist in the creation and support of open banking economies worldwide.

Giorgio Ferrero, PRETA commented, “We identified the need for Open Banking Europe to grow beyond its incubation stage and move to the next level in an accelerated manner. With their global expansion plans, product pipeline and fast-growing partner and customer base, Konsentus is well-placed to pursue the initial ambition for OBE Europe to boost safe and secure Open Banking globally. We are pleased to bring our OBE clients to this thriving environment, where they will continue to be well served by Konsentus and John Broxis, and can benefit from new and innovative Open Banking services on a European and global scale.”