Konsentus launches international Open Banking Hub

By Megha Bhattacharya

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.

According to Konsentus, the Open Banking Hub comprises of participant onboarding and registration services, directory services and certificate authority. It offers a data management system that enables national authorities to monitor the adoption of open banking in their country. The hub also allows for the publication of National API standards, a third-party provider (TPP) testing sandbox, a central API and App marketplace, and an API monitoring service to show real-time national API performance. The Konsentus OB Hub solution delivers a programme management forum to educate market participants, alongside testing and support services to enable a fully functioning national open banking environment.

Mike Woods, CEO, Konsentus, commented, “The creation of a central open banking platform enables us to help individual countries realise their open banking ambitions without having to understand, build and execute their own systems. We already deliver first-class technology that’s scalable, resilient and built for maximum availability. Data consolidation, standardisation and formatting in a secure real-time, online environment are why we are global leaders in our field and the trusted partner for safe and secure open banking economies.”

Recently, Konsentus announced that it has partnered with open banking API provider Ozone in a bid to deliver an end-to-end solution for speeding up PSD2 open banking adoption. Konsentus’ Verify is a SaaS-based API solution that offers financial institutions with real-time TPP identity & regulatory checking services and enables them to protect their customers from the risk of open banking fraud.